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IFRS 15Workpapers (Step 4 of 5)

Workpaper assignment

Step 4 of 5
Mission · workpaperWorkpaper · IFRS 15L4 · Expert

Documents

Marketplace merchant terms and conditions

Contract

Marketplace merchant terms and conditions

Marketplace merchant terms and conditions (extract): each third-party merchant freely sets the price of its products, ships them from its own warehouses and remains responsible to the buyer for their conformity, returns and after-sales service. Solvane Market never holds these products; it collects the buyer's card payment when the order is placed, keeps a commission of 15% and remits the balance to the merchant within 30 days. It bears the risk of fraud and non-payment on card payments; the subsidiary's management controller argues that this risk makes Solvane Market the principal for these sales.

Revenue note

Group revenue review: principal or agent, warranties, gift cards and disclosures

6 documents7 sections to document
0 / 4 sections completed
Guided mode

Section 1 of 7

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
Expert
Estimated time
≈ 35 min
Progress
0 / 3 steps done (review excluded)

Context

The Solvane group (fictitious entities) operates, through its subsidiary Solvane Market, an online marketplace on which third-party merchants offer their products, together with a range of home equipment sold under its own brand, Solvane Home. The subsidiary also sells gift cards and warranty extensions. As head of consolidation, you are reviewing the group's revenue at 31 December 20X5 and preparing the related note.

Assignment

Disclosures and contract balances workpaper.

Purpose of the workpaper

Prepare the note: disaggregation of revenue, contract balances and their changes, performance obligations and price allocated to remaining obligations, significant judgements and contract costs.

Questions of the file covered by this workpaper

  • Which information do you present in the revenue note?

Documents in the file

Open the documents to pick out the relevant information.

Choose how you want to work
View the workpaper template