Question1

The Smith family can implement the following technologies:

1. Cloud storage solutions, where they can save their customers details and orders instead
of keeping a book. This also can prevent loss of data due to natural disasters.
2. Customer relationship management, it includes customer communication tools to assist
customers quick and efficiently. Customers can use this tool to rate the business, place
orders and also can communicate if they want to return their orders. Instead of them
calling they can save time and airtime. When customers give the ratings, it will show
their satisfaction and help the business to improve their products quality. Instead of them
returning goods without commenting anything.
Also the CRM platforms can assist in gathering analytical data about customer behavior
which helps enable sales and marketing teams to reach higher targets instead of Matilda
having to make a research about the customer in order to know if they qualify for a credit
or not, the business can implement robot process in which their system will be
programmed to select customers on database and qualify for credit.
3. Robot process automation, via this process customers can chat to the business chat bot
on which they can make

IFRS 15 Requirements Application

An approved written/oral contract with
commitment from both parties on their
respective obligations
The entity can identify each party’s rights
regarding the goods/services to be transferred
The entity can identify the payment terms for the
goods/services to be transferred
An oral contract was concluded out ling the
obligations of both parties with respect to the
chocolates.
The rights of each party are identifiable, i.e
Smith’s (Pty) Ltd will deliver chocolates to Jones’s
chocolatier who in turn will make payments pr
invoice.
The payment terms are identifiable, Jones’s
chocolatier will make payments on the 1st of
Question1

The Smith family can implement the following technologies:

1. Cloud storage solutions, where they can save their customers details and orders instead
of keeping a book. This also can prevent loss of data due to natural disasters.
2. Customer relationship management, it includes customer communication tools to assist
customers quick and efficiently. Customers can use this tool to rate the business, place
orders and also can communicate if they want to return their orders. Instead of them
calling they can save time and airtime. When customers give the ratings, it will show
their satisfaction and help the business to improve their products quality. Instead of them
returning goods without commenting anything.
Also the CRM platforms can assist in gathering analytical data about customer behavior
which helps enable sales and marketing teams to reach higher targets instead of Matilda
having to make a research about the customer in order to know if they qualify for a credit
or not, the business can implement robot process in which their system will be
programmed to select customers on database and qualify for credit.
3. Robot process automation, via this process customers can chat to the business chat bot
on which they can make

every month for the next 6 months and

The contract has commercial substance (expected
change in the future cash flows)
It is probable that the entity will collect the
consideration to which it will be entitled.
thereafter, a 10% increase in the pricing will be
applied for the following 6 months.
The contract has commercial substance as it will
change the future cash flows of Smith’s (Pty) Ltd.
It is probable that Smith’s (Pty) Ltd will collect the
considerations to which it is entitled as Jones’s
chocolatier has agreed to the oral contact
acknowledging his intentions to pay, Mr Smith
made a research and found that Jones’s
Question1

The Smith family can implement the following technologies:

1. Cloud storage solutions, where they can save their customers details and orders instead
of keeping a book. This also can prevent loss of data due to natural disasters.
2. Customer relationship management, it includes customer communication tools to assist
customers quick and efficiently. Customers can use this tool to rate the business, place
orders and also can communicate if they want to return their orders. Instead of them
calling they can save time and airtime. When customers give the ratings, it will show
their satisfaction and help the business to improve their products quality. Instead of them
returning goods without commenting anything.
Also the CRM platforms can assist in gathering analytical data about customer behavior
which helps enable sales and marketing teams to reach higher targets instead of Matilda
having to make a research about the customer in order to know if they qualify for a credit
or not, the business can implement robot process in which their system will be
programmed to select customers on database and qualify for credit.
3. Robot process automation, via this process customers can chat to the business chat bot
on which they can make

chocolatier has the ability to pay since they are a

reputable brand that has been well established,
that has been in existence for the last 12 years.