International GAAP 2021

Chapter 27Revenue: introduction and scope

• 1 INTRODUCTION
  • 1.1 The distinction between income, revenue and gains
• 2 IFRS 15 – OBJECTIVE AND OVERVIEW
  • 2.1 Overview of the standard
    • 2.1.1 Core principle of the standard
    • 2.1.2 Changes to the standard since issuance
  • 2.2 Definitions
• 3 IFRS 15 – SCOPE
  • 3.1 Scope of IFRS 15
    • 3.1.1 Non-monetary exchanges
  • 3.2 Other scope considerations
  • 3.3 Definition of a customer
  • 3.4 Collaborative arrangements
  • 3.5 Interaction with other standards
    • 3.5.1 Application questions on scope
      • 3.5.1.A Islamic financing transactions
      • 3.5.1.B Certain fee-generating activities of financial institutions
      • 3.5.1.C Credit card arrangements
      • 3.5.1.D Credit card-holder rewards programmes
      • 3.5.1.E Contributions
      • 3.5.1.F Fixed-odds wagering contracts
      • 3.5.1.G Pre-production activities related to long-term supply arrangements
      • 3.5.1.H Sales of by-products or scrap materials
      • 3.5.1.I Prepaid gift cards
      • 3.5.1.J Determining whether IFRS 10 or IFRS 15 applies to the sale of a corporate wrapper to a customer
      • 3.5.1.K Revenue arising from an interest in a joint operation
      • 3.5.1.L Are equity instruments issued by an entity to a customer in connection with a revenue arrangement within the scope of the revenue standard?
• 4 OTHER INCOME AND OTHER REVENUE
  • 4.1 Income and distributable profits
  • 4.2 Interest and dividends
  • 4.3 Disposal of non-financial assets not in the ordinary course of business
    • 4.3.1 Sale of assets held for rental
  • 4.4 Regulatory assets and liabilities

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