Search found 4 matches

by nelsonhong
12 Aug 2021, 08:59
Forum: IFRS-related topics
Topic: IFRS 15 Point in Time/Over Time between Subsidiaries
Replies: 3
Views: 6738

IFRS 15 Point in Time/Over Time between Subsidiaries

Hi all, the scenario is as below. - Company A and Company B are subsidiaries of the same parent company. - Company A signs a sales contract to perform accounting service of 2 years for a client; however, Company A does not perform the accounting service itself, it subcontracts the accounting service...
by nelsonhong
10 Jan 2021, 17:33
Forum: IFRS-related topics
Topic: IFRS 15 Contract Costs
Replies: 3
Views: 1094

Re: IFRS 15 Contract Costs

Yes, noticed that there are many outstanding ARs.... So you are saying that, even though that the remaining 5% commission that the sales rep is not currently entitled (due to AR not being collected), should also be booked in the 1st year and amortize over the project life, and to be restated (reduce...
by nelsonhong
07 Jan 2021, 15:39
Forum: IFRS-related topics
Topic: IFRS 15 Contract Costs
Replies: 3
Views: 1094

IFRS 15 Contract Costs

Hi, may I ask for some comments regarding the below scenario in the sales commission. I work in a project-based company, and we pay sales commission (10% flat rate on the gross margin of the sales (sales minus expected costs)) as incremental costs to fulfil a contract. We usually amortize the commis...