This is a mind map about IFRS 15 that used to show the connections between different parts of the total while visually organizing information into a hierarchy. It centers on a single idea IFRS that is shown as an image in the middle of a white page, to which related representations of the idea are added. On EdrawMind, you may find and create more mind maps.
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IFRS 15
Nature
applies to all
Contracts with customers
Except
Non-monetary exchanges between entities in the same life of business
Those financial instruments and other contractual obligations within the scope of
IFRS 9
IFRS 10
IFRS 11
IAS 27
IAS 28
Those contracts within the score of
IFRS 16
IFRS 17
Revenue
Income arising from
Ordinary course of business
Presentation
Disclosure
Measurement
Transaction price
1. Variable consideration
Explicitly written in the contract
Result:
Implicit price concession subsequent impairment loss
2. Financing
Receivables should be reflected
Not explicitly stated in the contract
3. Non-cash
Measured at fair value
If cannot be determined:
Stand-alone selling price
Silent on measurement date
4. Payable to customer
Reduction in transaction price and revenue
Recognition
IFRS 15 Mind Map
1
342
IFRS 15
Nature
applies to all
Contracts with customers
Except
Presentation
Non-monetary exchanges between entities in the same life of business
Those financial instruments and other contractual obligations within the scope of
Those contracts within the score of
IFRS 9
IFRS 10
IFRS 11
IAS 27
IAS 28
IFRS 16
IFRS 17
Revenue
Income arising from
Ordinary course of business
Disclosure
Measurement
Recognition
Transaction price
1. Variable consideration
2. Financing
3. Non-cash
4. Payable to customer
Explicitly written in the contract
Receivables should be reflected
Measured at fair value
Reduction in transaction price and revenue
If cannot be determined:
Silent on measurement date
Stand-alone selling price
Not explicitly stated in the contract
Result:
Implicit price concession subsequent impairment loss
IFRS 15
Nature
applies to all
Contracts with customers
Except
Non-monetary exchanges between entities in the same life of business
Those financial instruments and other contractual obligations within the scope of
IFRS 9
IFRS 10
IFRS 11
IAS 27
IAS 28
Those contracts within the score of
IFRS 16
IFRS 17
Revenue
Income arising from
Ordinary course of business
Presentation
Disclosure
Measurement
Transaction price
1. Variable consideration
Explicitly written in the contract
Result:
Implicit price concession subsequent impairment loss
2. Financing
Receivables should be reflected
Not explicitly stated in the contract
3. Non-cash
Measured at fair value
If cannot be determined:
Stand-alone selling price
Silent on measurement date
4. Payable to customer
Reduction in transaction price and revenue
Recognition
Mind Map
Outline
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This work was published by EdrawMind user Danelle Francene Damasco and does not
represent the position of Edraw Software.