ifrs1

The amendments clarify how to:

  • identify a performance obligation (the promise to transfer a good or a service to a customer) in a contract;
  • determine whether a company is a principal (the provider of a good or service) or an agent (responsible for arranging for the good or service to be provided); and
  • determine whether the revenue from granting a licence should be recognised at a point in time or over time.

In addition to the clarifications, the amendments include two additional reliefs to reduce cost and complexity for a company when it first applies the new Standard.

.

Más información