Page 27 - FAC4862 slides JAs and Revenue CM
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JOINT ARRANGEMENTS
Outcomes
After you have studied this learning unit, you should be able to
do the following:
Identify contracts with customers within the scope of IFRS 15.
Identify combination of contracts and contract modifications.
Identify separate performance obligations.
Determine the transaction price and the allocation thereof to
separate performance obligations.
Recognise revenue when performance obligations have been
satisfied.
Account for contract costs.
Present and disclose revenue in the annual financial
statements.
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