Are the principles of IFRS 15 applied differently to related party contracts?

The new IFRS rules will be applicable for periods beginning on or after 1 January 2018. Here we look at the question of whether it's possible to avoid ... Feb 15, 2021 ... For a contract to exist, collectibility of the consideration from the customer must be “probable” under both paragraph 9(e) of IFRS 15 and ASC ... Sep 14, 2016 ... For companies with real estate development, property management or construction activities, IFRS 15 replaces several familiar standards and ... Jul 6, 2016 ... EFRAG considers that they bring appropriate clarifications of the existing principles in. IFRS 15 for accounting for revenues from contracts ... Consequently, the entity accounts for the contract with the customer in accordance with the requirements in. IFRS 15. Example 3—Implicit price concession. An ... It is important to note that there are some exclusions from IFRS 15 such as: Lease contracts (IAS 17); Insurance contracts (IFRS 4); Financial instruments (IFRS ... Effective January 1, 2018, Kinaxis adopted IFRS 15, which impacts the revenue recognition of subscription agreements where the software is delivered on-premise. IFRS 15 Revenue from Contracts with Customers provides a single, principles-based five-step model that should be applied to determine how and when to recognise ... This article attempts to highlight the way in which this standard has, and may, affect the manner in which construction companies in Nigeria recognise revenue. IFRS 15 defines the following terms that form an integral part of this IFRS. Contract – An agreement between two or more parties that creates enforceable rights ...