1. Accounting, Auditing, Actuarial
  2. IFRS Foundation & IASB
  3. International Financial Reporting Standards (IFRSs)
  4. 2020
Date-stamp loading
  1. IFRS 15: Revenue from Contracts with Customers
  2. IFRS 15: Basis for Conclusions
Previous Next

IFRS 15: Basis for Conclusions

Comparing proposed amendment...
Introduction (paras. BC1-BC1A)
Overview (paras. BC2-BC3)
Background (paras. BC4-BC27H)
BC4-BC13
Why make the change? (paras. BC14-BC15)
Alternative revenue recognition models (paras. BC16-BC27)
Clarifications to IFRS 15 (amendments issued in April 2016) (paras. BC27A-BC27H)
Scope (paras. BC28-BC66)
BC28-BC30
Definition of a contract (Appendix A) (paras. BC31-BC46H)
Accounting for contracts that do not meet the criteria in paragraph 9 (paras. BC47-BC49)
Wholly unperformed contracts (paras. BC50-BC51)
Definition of a customer (paragraph 6 and Appendix A) (paras. BC52-BC57)
Exchanges of products to facilitate a sale to another party (paragraph 5(d)) (paras. BC58-BC59)
Contracts with customers outside the scope of the requirements (paragraph 5) (paras. BC60-BC63)
Contracts partially within the scope of other Standards (paragraph 7) (paras. BC64-BC66)
Identifying the contract (paragraphs 9-16) (paras. BC67-BC83)
BC67-BC68
Applying IFRS 15 at a portfolio level (paras. BC69-BC70)
Combination of contracts (paragraph 17) (paras. BC71-BC75)
Contract modifications (paragraphs 18-21) (paras. BC76-BC83)
Identifying performance obligations (paras. BC84-BC116U)
Definition of a performance obligation (Appendix A) (paras. BC84-BC86)
Identifying the promised goods or services (paragraphs 24-25) (paras. BC87-BC93)
Identifying when promises represent performance obligations (paragraphs 22-30) (paras. BC94-BC112)
A series of distinct goods or services that are substantially the same and have the same pattern of transfer (paragraph 22(b)) (paras. BC113-BC116)
Clarifications to IFRS 15 (amendments issued in April 2016) (paras. BC116A-BC116U)
Satisfaction of performance obligations (paragraphs 31-45) (paras. BC117-BC180)
BC117
Control (paras. BC118-BC123)
Performance obligations satisfied over time (paragraphs 35-37) (paras. BC124-BC152)
Performance obligations satisfied at a point in time (paragraph 38) (paras. BC153-BC157)
Measuring progress towards complete satisfaction of a performance obligation (paragraphs 39-45 and B14-B19) (paras. BC158-BC180)
Measurement of revenue (paragraphs 46-90) (paras. BC181-BC265)
BC181-BC183
Determining the transaction price (paragraphs 47-72) (paras. BC184-BC188D)
Variable consideration (paragraphs 50-59) (paras. BC189-BC228)
The existence of a significant financing component in the contract (paragraphs 60-65) (paras. BC229-BC247)
Non-cash consideration (paragraphs 66-69) (paras. BC248-BC254H)
Consideration payable to a customer (paragraphs 70-72) (paras. BC255-BC258)
Customer credit risk (paras. BC259-BC265)
Allocating the transaction price to performance obligations (paragraphs 73-86) (paras. BC266-BC293)
BC266-BC267
Estimating stand-alone selling prices (paragraphs 76-80) (paras. BC268-BC276)
Allocating discounts and variable consideration (paragraphs 81-86) (paras. BC277-BC285)
Changes in transaction price (para. BC286)
Contingent revenue cap and the portfolio approach to allocation (paras. BC287-BC293)
Onerous performance obligations (paras. BC294-BC296)
Contract costs (paragraphs 91-104) (paras. BC297-BC316)
Incremental costs of obtaining a contract (paragraphs 91-94) (paras. BC297-BC303)
Costs to fulfil a contract (paragraphs 95-98) (paras. BC304-BC308)
Amortisation and impairment (paragraphs 99-104) (paras. BC309-BC311)
Learning curve (paras. BC312-BC316)
Presentation (paragraphs 105-109) (paras. BC317-BC326)
BC317-BC321
Relationship between contract assets and receivables (paras. BC322-BC326)
Disclosure (paragraphs 110-129) (paras. BC327-BC361)
BC327-BC329
Disclosure objective and materiality (paragraphs 110-112) (paras. BC330-BC331)
Contracts with customers (paras. BC332-BC353)
Performance obligations (paragraph 119) (para. BC354)
Significant judgements (paragraphs 123-126) (para. BC355)
Assets recognised from the costs to obtain or fulfil a contract with a customer (paragraphs 127-128) (paras. BC356-BC357)
Disclosures required for interim financial reports (paras. BC358-BC361)
Application guidance (paragraphs B2-B89) (paras. BC362-BC433)
BC362
Sale with a right of return (paragraphs B20-B27) (paras. BC363-BC367)
Warranties (paragraphs B28-B33) (para. BC368-BC378)
Principal versus agent considerations (paragraphs B34-B38) (paras. BC379-BC385Z)
Customer options for additional goods or services (paragraphs B39-B43) (paras. BC386-395)
Customers' unexercised rights (breakage) (paragraphs B44-B47) (paras. BC396-BC401)
Licensing (paragraphs B52-B63B) (paras. BC402-BC421J)
Repurchase agreements (paragraphs B64-B76) (paras. BC422-BC433)
Transition, effective date and early application (paragraphs C1-C9) (paras. BC434-BC453)
Transition (paragraphs C2-C8A) (paras. BC434-BC445U)
Effective date and early application (paragraphs C1-C1B) (paras. BC446-BC453J)
Analysis of the effects of IFRS 15 (paras. BC454-493)
BC454-BC455
Overview (paras. BC456-BC459)
Reporting revenue from contracts with customers in the financial statements (paras. BC460-BC480)
Improved comparability of financial information and better economic decision-making (paras. BC481-BC485)
Compliance costs for preparers (paras. BC486-BC488)
Costs of analysis for users of financial statements (paras. BC489-BC490)
Conclusion (paras. BC491-BC493)
Consequential amendments (paras. BC494-BC503)
Sales of assets that are not an output of an entity's ordinary activities (paras. BC494-BC503)
Transition for first-time adopters of IFRS (paras. BC504-BC509)
Summary of main changes from the 2011 Exposure Draft (para. BC510)
Dissenting Opinion (paras. DO1-DO5)
Appendix A - Comparison of IFRS 15 and Topic 606
Appendix B - Amendments to the Basis for Conclusions on other Standards
Previous Next