BC28 The boards decided that IFRS 15 should apply only to a subset of revenue as defined in each of the boards' conceptual frameworks (ie revenue from contracts with customers). Revenue from transactions or events that does not arise from a contract with a customer is not within the scope of IFRS 15 and, therefore, those transactions or events will continue to be recognised in accordance with other Standards, for example:

(a) dividends received (although these requirements existed in previous revenue Standards in IFRS, the IASB has moved them unchanged, and without changing their effect, into IFRS 9 Financial Instruments);

(b) non-exchange transactions (for example, donations or contributions received);

(c) for IFRS, changes in the value of biological assets, investment properties and the inventory of commodity broker-traders; and

(d) for US GAAP, changes in regulatory assets and liabilities arising from alternative revenue programmes for rate-regulated entities in the scope of Topic 980 on regulated operations. (The FASB decided that the revenue arising from those assets or liabilities should be presented separately from revenue arising from contracts with customers. Therefore, the FASB made amendments to Subtopic 980-605 Regulated Operations - Revenue Recognition.)