BC332 To provide context for the disclosures, the boards decided to require an entity to disclose the amount of revenue recognised from contracts with customers. The FASB noted that in the absence of a general financial statement presentation standard, it would require an entity to present or disclose the amount of revenue recognised from contracts with customers. However, the IASB noted that the general principles of IAS 1 would apply and, therefore, an entity would need to disclose the amount of revenue recognised from contracts with customers in the notes to the financial statements only if it was not otherwise presented. [When it issued IFRS 18, the IASB carried over these requirements in IAS 1 to IFRS 18.]
BC333 In addition to the amount of revenue recognised, the boards also decided to require an entity to disclose impairment losses from contracts with customers (if not presented in the statement of comprehensive income). The boards made this decision as a consequence of their pr
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