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Consideration, Cash in Hand Paid, the Receipt and Sufficiency of Which is Hereby Acknowledged, Do Hereby  Form

Consideration, Cash in Hand Paid, the Receipt and Sufficiency of Which is Hereby Acknowledged, Do Hereby Form

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Instructions and help about Consideration, Cash In Hand Paid, The Receipt And Sufficiency Of Which Is Hereby Acknowledged, Do Hereby

IFRS 15 looks at revenue from contracts with customers and it's really a quite recent standard it's merged to previous Revenue standards together where we used to look at risks and rewards and whether they transferred now there's a five-step approach to recognizing Revenue we're going to walk through each of those steps and maybe look at how they've impacted businesses as we go the first thing to do is determine is there a contract and that seems quite simple and that's quite straightforward but that has changed some revenue for businesses because previously they might have had minor income streams like income from licensing and they recorded those in other income towards the bottom of the p l but actually that comes from a contract so now it has to be included within Revenue the second step is to identify the performance obligations within that contract and you might have a contract that say sells a machine installs a machine and then tr

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