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IFRS 15Workpapers (Step 4 of 5)

Workpaper assignment

Step 4 of 5
Mission · workpaperWorkpaper · IFRS 15L3 · Advanced

Documents

Licence contract with Hôtels Belvédère

Contract

Licence contract with Hôtels Belvédère

Licence contract of 1 October 20X1 with Hôtels Belvédère SA: perpetual licence of the Orionis Hôtel software, price 300,000, invoiced and collected on signature. Case data: the licence is a performance obligation whose control transfers to the customer on 1 October 20X1, the date on which the software is made available. Under the Orionis Plus loyalty programme, the customer receives a 35% discount voucher on the purchase of the Orionis Paie module, valid for 12 months and capped at a purchase of 100,000, i.e. a maximum discount of 35,000. The payroll module is a different product from the hotel software. No voucher had been used at the reporting date.

Contract costs

Software publisher: loyalty programme, multi-year advance payment and costs of obtaining contracts

7 documents9 sections to document
0 / 6 sections completed
Guided mode

Section 1 of 9

Objective

In progress
Section brief
What to document
The engagement, its scope and the working mode chosen.
Why
A workpaper answers one precise question: framing it avoids off-topic work.
How
Read the objective and the assignment, then choose the mode (guided, semi-guided, professional).
Expected result
You know which question the workpaper must settle, and for which reporting date.
Your role
Preparer of the IFRS 15 workpaper
Level
Advanced
Estimated time
≈ 35 min
Progress
0 / 5 steps done (review excluded)

Context

Orionis Logiciels SA (a fictitious entity) publishes business software. In 20X1, three contracts call for analysis: a licence sold to Hôtels Belvédère SA (a fictitious entity) with a discount voucher from the Orionis Plus loyalty programme, a claims management module paid for by Mutuelle Horizon (a fictitious entity) 2 years before its delivery, and an online subscription concluded with Transports Lumière SA (a fictitious entity) in exchange for a commission paid to the salesperson. You are preparing the financial statements for the year ended 31 December 20X1.

Assignment

Costs to obtain and fulfil contracts workpaper.

Purpose of the workpaper

Classify the costs of obtaining and fulfilling the contract (incremental, eligible for capitalisation, within another standard or expensed), determine the contract cost asset, its amortisation and impairment, then record the entries and pass the items of the note.

Questions of the file covered by this workpaper

  • Which costs of the Transports Lumière contract should be recognised as an asset?
  • Calculate the asset recognised from the costs of the contract and the costs recognised as an expense.
  • Determine the amortisation period and calculate the amortisation for the year.
  • Record the entries for the recognition of the asset and its amortisation.

Documents in the file

Open the documents to pick out the relevant information.

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