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technical article- revenue revisited

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › technical article- revenue revisited

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • June 27, 2021 at 1:35 pm #626455
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    “IFRS 15 requires that a series of distinct goods or services that are substantially the same with the same pattern of transfer, to be regarded as a single performance obligation. ”

    sir i find this statement very controversial.Like on one hand it states how the gods/services are “distinct” and on the other hand states that “are substantially the same”.

    how and what exactly is the statement trying to convey sir? could you explain by giving an example?

    June 27, 2021 at 3:20 pm #626474
    Stephen Widberg
    Keymaster
    • Topics: 11
    • Replies: 2837
    • ☆☆☆☆☆

    If you are interested in the theory, use:

    https://www.pwc.com/gx/en/services/audit-assurance/assets/revenue-from-contracts-with-customers.pdf

    But keep it simple for the exam!

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