IFRS 15 Mapping Linked to Illustrative Examples – Page 1

IFRS 15 Mapping Linked to Illustrative Examples – Page 2

The following mapping provides a good high-level view of IFRS 15.

Please pay careful attention to the last 3 columns that detail the illustrative examples that should be worked through at each stage of your work.

IFRS 15 – Revenue from Contracts with Customers

5 Step Appendix B – Illustrative Examples (Part B2)

Main
Model – Application
Standard Important Not Important
Step Guidance (Part
(Part A1) Already covered Cover on your
Number A1)
in lessons own
- 5 Step model p2 
OBJECTIVE p1 - 4
SCOPE p5 - 8
RECOGNITION p9 - 39
- Identifying the contract p9 - 16 Step 1 3
- Combination of contracts p17 Step 1
- Contract modifications (low importance – p18 - 21 Step 1 5–8
level 1)
- Identifying performance obligations (POs) p22 - 23 Step 2 10 11
- Promises in contracts with customers p24 - 25
- Distinct goods and services p26 - 30
- Satisfaction of POs p31 - 33 Step 5
- POs satisfied over time p34 - 37 B2 - B13 13 - 16 17
- POs satisfied at a point in time p38
- Measuring progress in satisfying POs p39 - 45 B14 - B19 18 - 19
MEASUREMENT p46 Step 5
- Determining transaction price p47 – 49 Step 3
- Variable consideration p50 – 59 40 & 22 23 20 - 21 & 24 - 25
- Significant financing component p60 – 65 28 26 - 27, 29 - 30
- Non-cash consideration p66 – 69 31
- Consideration payable to customers p70 - 72 32
 IFRS 15 Mapping Linked to Illustrative Examples – Page 3

IFRS 15 – Revenue from Contracts with Customers

5 Step Appendix B – Illustrative Examples (Part B2)

Main
Model – Application Important Not Important /
Standard
Step Guidance (Part overly detailed
(Part A1)
Number A1) Covered in Cover on your
lecture own

- Allocating the transaction price to POs p73 - 75 Step 4

- Allocation on stand-alone selling prices p76 - 80 33
- Allocation of a discount p81 - 83 34A 34B & C
- Allocation of variable consideration p84 - 86 35
- Changes in the transaction price p87 - 90 Step 4
CONTRACT COSTS

- Incremental costs of obtaining a contract p91 - 94 36

- Costs to fulfil a contract p95 - 98 37
- Amortisation and impairment p99 - 104
PRESENTATION p105 - 109 38 - 39
DISCLOSURE p110 - 112 41 - 43
- Contracts with customers p113 - 122
- Significant judgements p123 - 126
- Assets recognised in fulfilling contract p127 - 128
- Practical expedients p129
APPLICATION GUIDANCE (Appendix B)
Sale with right of return B20 - B27
Warranties B28 - B33 44
Principal vs agent B34 - B38 45 & 46 46A – 48
Customers options for additional goods and B39 - B43 49 – 52
services
Customers unexercised rights B44 - B47
Non-refundable upfront fees B48 - B51 53
Licensing B52 - B63 54 - 61
Repurchase agreements B64 - B76 62
Consignment arrangements B77 - B78
Bill hold arrangements B79 - B82 63
Customer acceptance B83 - B86
Disclosure aggregated revenue B87 - B89