BC30 The accounting requirements for construction and service contracts are addressed in IAS 11 Construction Contracts [IFRS 15 Revenue from Contracts with Customers, issued in May 2014, replaced IAS 11 Construction Contracts and IAS 18 Revenue. IFRS 15 requires revenue to be recognised when (or as) an entity satisfies a performance obligation by transferring a promised good or service to a customer. IFRS 15 measures the revenue by (a) determining the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer; and (b) allocating that amount to the performance obligations.] and IAS 18 [IFRS 15 Revenue from Contracts with Customers, issued in May 2014, replaced IAS 11 Construction Contracts and IAS 18 Revenue. IFRS 15 requires revenue to be recognised when (or as) an entity satisfies a performance obligation by transferring a promised good or service to a customer. IFRS 15 measures the revenue by (a) determining
…Version date: 26 February 2020 - onwards
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