Page 171 - F2 Integrated Workbook STUDENT 2019
P. 171
Revenue from contracts with customers
1.3.1 Step 2: Identify the performance obligations
IFRS 15 says that an entity must identify and separate the distinct performance
obligations within a contract.
Performance obligations are promises to transfer distinct goods or
services to a customer.
One sales contract
Performance Performance
obligation 1 obligation 2
e.g. deliver e.g. provide
computer system support service
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