Five-Step Revenue Recognition and Presentation of Contract Assets and Contract Liabilities under IFRS 15
First written in FY2019-Q1. 1 of 2 entries say "Restated". Latest entry: FY2019-Q3.
1 other company's latest entry also says "Restated".
- FY2019-Q3RestatedAnnual report
「The Company recognizes revenue based on the following five-step approach. Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the distinct performance obligations in the contract. Step 5: Recognize revenue when, or as, performance obligations are satisfied.」
The Company continues to apply five-step revenue recognition and the presentation of contract assets and contract liabilities under IFRS 15. - FY2019-Q1First statedAnnual report
「The Company has applied IFRS 15 Revenue from Contracts with Customers from the beginning of the current consolidated fiscal year. IFRS 15 provides a comprehensive framework for addressing revenue recognition issues. Based on a five-step approach, it measures revenue through changes in assets and liabilities arising from contracts with customers and recognizes revenue when control of goods or services is transferred.」
The Company applied IFRS 15 from the beginning of the current consolidated fiscal year and adopted the five steps of identifying the contract, identifying performance obligations, determining and allocating the transaction price, and recognizing revenue when performance obligations are satisfied. Unbilled receivables are presented as contract assets, and payments received from customers as contract liabilities.