Wiley Interpretation and Application of IFRS Standards

20Revenue from Contracts with Customer

1. Introduction
2. Definitions of Terms
3. Scope
4. The Revenue Model
   1. The Core Principle and Steps
      1. Step 1: Identify the Contract with Customers
      2. Identifying the Contract
      3. Combination of Contracts
      4. Contract modifications
      5. Step 2: Identify the Performance Obligations in the Contract
      6. Distinct Performance Obligations
      7. A Series of Distinct Goods and Services
      8. Step 3: Determine the Transaction Price
      9. Variable Consideration
      10. Constraining Estimates of Variable Consideration
      11. The Existence of a Significant Financing Component in the Contract
      12. Non-Cash Consideration
      13. Consideration Payable to a Customer
      14. Changes in the Transaction Price
      15. Step 4: Allocate the Transaction Price
      16. Allocation Based on Stand-Alone Selling Prices
      17. Allocation of a Discount
      18. Allocation of Variable Consideration
      19. Step 5: Recognise Revenue When Performance Obligations are Satisfied
      20. Performance Obligations Satisfied Over Time
      21. Measuring Progress Towards Complete Satisfaction of a Performance Obligation
      22. Performance Obligations Satisfied at a Point in Time
5. Contract Cost
   1. Incremental Costs of Obtaining a Contract
      1. Costs to Fulfil a Contract
      2. Amortisation
      3. Impairment
6. Presentation
   1. Statement of Financial Position
7. Disclosure
   1. 1. Transition
8. Specific Transactions
   1. 1. Sale with a Right of Return
      2. Warranties
      3. Principal versus Agent Considerations
      4. Customer Options for Additional Goods or Services
      5. Customers' Unexercised Rights
   2. Non-Refundable Upfront Fees (and Some Related Costs)
      1. Licensing
      2. Determining the ...