Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. Contract costs Though the main focus of the standard is indeed revenue, issues related to contract costs are also addressed, given their nature, i.e. provided they …
Athens, January 2019 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. The existence of a material right The standard addresses the treatment of a sensible area of revenue recognition, related to services or goods seemingly given free of …
Athens, June 2018 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. Allocating the transaction price among the POs When a contract includes more than one POs, the total agreed consideration may be different to the sum of …
Athens, June 2018 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. Determining the transaction price The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for …
Athens, June 2018 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant. When and how, is revenue recognized? Revenue is recognized when POs are satisfied. This occurs, either: 1. Over time, i.e. gradually; or, 2. At a point …
Athens, June 2018 Chris Ragkavas, BA, MA, FCCA, CGMA IFRS technical expert, financial consultant Performance obligations are contractual commitments that the reporting entity must comply with, in order to be entitled to consideration. Even if a good or service is …
