{"entries":[{"key":"LX.IFRS15.000001","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"TELECOM","tested_point":"SCOPE_EXCLUSIONS","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §5"],"exercise":{"prompt":{"fr":"","en":"A telecommunications group comprises an operator, a financing subsidiary and an insurance subsidiary. Classify each contract according to whether it falls within IFRS 15 or another standard.","es":""},"explanation":{"fr":"","en":"Excluded from IFRS 15 are leases (IFRS 16), insurance contracts (IFRS 17), financial instruments such as a loan (IFRS 9) and non-monetary exchanges between entities in the same line of business to facilitate sales to customers (IFRS 15, para. 5). The subscription with a smartphone and the services sold to a business customer are contracts with customers within IFRS 15.","es":""},"common_error":{"fr":"","en":"Believing that the capacity swap between operators is revenue because it concerns the operator's ordinary activity.","es":""},"format":"CLASSIFICATION","categories":[{"id":"IN_SCOPE","text":{"fr":"","en":"Within IFRS 15","es":""}},{"id":"OUT_OF_SCOPE","text":{"fr":"","en":"Excluded from IFRS 15 (other standard)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"24-month mobile subscription sold to an individual, with a smartphone","es":""},"category":"IN_SCOPE"},{"id":"I2","text":{"fr":"","en":"Interest-bearing loan granted by the financing subsidiary to a retailer","es":""},"category":"OUT_OF_SCOPE"},{"id":"I3","text":{"fr":"","en":"Insurance contract covering theft and breakage of phones, issued by the insurance subsidiary","es":""},"category":"OUT_OF_SCOPE"},{"id":"I4","text":{"fr":"","en":"Five-year lease of an office building owned by an investor to the operator (contract seen from the investor's side)","es":""},"category":"OUT_OF_SCOPE"},{"id":"I5","text":{"fr":"","en":"Swap of network capacity between two operators, each to serve its own customers better, without payment","es":""},"category":"OUT_OF_SCOPE"},{"id":"I6","text":{"fr":"","en":"Connectivity and hosting services contract sold to a business customer for three years","es":""},"category":"IN_SCOPE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000002","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE","IFRS15.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"FULL_ANALYSIS_SEQUENCE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"how"},"references":["IFRS 15 §5","IFRS 15 §6","IFRS 15 §9","IFRS 15 §22","IFRS 15 §47","IFRS 15 §73","IFRS 15 §31"],"exercise":{"prompt":{"fr":"","en":"A management controller must analyse a new contract signed by her company. Put her whole line of reasoning in order, from the preliminary sorting to the recognition of revenue.","es":""},"explanation":{"fr":"","en":"The preliminary sorting comes first: no customer, no IFRS 15 (IFRS 15, para. 6); excluded contract, other standard (IFRS 15, para. 5). Then come the five steps, which follow the structure of the standard: contract (para. 9), performance obligations (para. 22), transaction price (para. 47), allocation (para. 73), recognition on transfer of control (para. 31). Each step uses the result of the previous one: a price is not allocated before the obligations are known.","es":""},"common_error":{"fr":"","en":"Determining the price before identifying the obligations, or starting the five steps without checking that the other party is a customer.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Check that the other party is a customer and not a partner sharing the risks","es":""}},{"id":"S2","text":{"fr":"","en":"Check that the contract is not a lease, an insurance contract, a financial instrument or an exchange between entities in the same line of business","es":""}},{"id":"S3","text":{"fr":"","en":"Check that the five contract criteria are met","es":""}},{"id":"S4","text":{"fr":"","en":"Identify the performance obligations","es":""}},{"id":"S5","text":{"fr":"","en":"Determine the transaction price","es":""}},{"id":"S6","text":{"fr":"","en":"Allocate the price to the performance obligations","es":""}},{"id":"S7","text":{"fr":"","en":"Recognise revenue when the customer obtains control of each promised item","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000003","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","format":"MATCHING","context":"GENERIC","tested_point":"KEY_TERMS_MEANING","difficulty":"BEGINNER","estimated_time_s":120,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Match each IFRS 15 term with its meaning. One item on the right matches no term.","es":""},"explanation":{"fr":"","en":"These paraphrases reflect the meaning of the Appendix A definitions (IFRS 15, Appendix A). The list price is not the transaction price: the latter is the amount to which the entity expects to be entitled, which may differ from the displayed price (discounts, bonuses, penalties).","es":""},"common_error":{"fr":"","en":"Confusing contract asset and contract liability: the asset arises when the entity has already transferred, the liability when it has already received (or can demand) payment.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Contract","es":""}},{"id":"L2","text":{"fr":"","en":"Customer","es":""}},{"id":"L3","text":{"fr":"","en":"Performance obligation","es":""}},{"id":"L4","text":{"fr":"","en":"Transaction price","es":""}},{"id":"L5","text":{"fr":"","en":"Contract asset","es":""}},{"id":"L6","text":{"fr":"","en":"Contract liability","es":""}}],"right":[{"id":"R1","text":{"fr":"","en":"Agreement between two or more parties that creates enforceable rights and obligations","es":""}},{"id":"R2","text":{"fr":"","en":"Party that contracts to obtain, for consideration, goods or services that are an output of the entity's ordinary activities","es":""}},{"id":"R3","text":{"fr":"","en":"Promise to transfer to the customer a distinct good or service, or a series of distinct goods or services that are substantially the same","es":""}},{"id":"R4","text":{"fr":"","en":"Consideration to which the entity expects to be entitled, excluding amounts collected on behalf of third parties","es":""}},{"id":"R5","text":{"fr":"","en":"Right to consideration for goods or services already transferred that still depends on something other than the passage of time","es":""}},{"id":"R6","text":{"fr":"","en":"Obligation to transfer goods or services for which the entity has already received, or can already demand, the consideration","es":""}},{"id":"R7","text":{"fr":"","en":"List price displayed by the entity at the signature date","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"},{"left":"L5","right":"R5"},{"left":"L6","right":"R6"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000004","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"PHARMA","tested_point":"CUSTOMER_VERSUS_COLLABORATOR","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"customer"},"references":["IFRS 15 §6"],"exercise":{"prompt":{"fr":"","en":"Bioveris (fictitious entity) is a pharmaceutical contract manufacturer. Contract 1: a biotechnology company orders batches of active ingredient from it at a fixed price per batch. Contract 2: Bioveris and a laboratory each fund 50% of a research programme on a new molecule and will share any profits equally. Which counterparty or counterparties is/are a customer of Bioveris within the meaning of IFRS 15?","es":""},"explanation":{"fr":"","en":"A customer is a party that has contracted to obtain, for consideration, goods or services that are an output of the entity's ordinary activities. A partner that participates in an activity whose parties share the risks and benefits, such as the joint development of an asset, is not a customer (IFRS 15, para. 6). Only contract 1 falls within IFRS 15.","es":""},"common_error":{"fr":"","en":"Considering that any contract that generates cash inflows falls within IFRS 15, without asking whether the other party is a customer.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The biotechnology company only","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Both counterparties","es":""},"correct":false,"feedback":{"fr":"","en":"The partner laboratory does not seek to obtain an output of Bioveris's activity: it shares the risks and benefits of the programme with it.","es":""}},{"id":"C","text":{"fr":"","en":"The partner laboratory only","es":""},"correct":false,"feedback":{"fr":"","en":"It is the other way round: the biotech buys, for a price, the output of Bioveris's ordinary activity; it is the customer.","es":""}},{"id":"D","text":{"fr":"","en":"Neither, because both contracts concern pharmaceutical research","es":""},"correct":false,"feedback":{"fr":"","en":"The industry decides nothing. Contract manufacturing of batches is Bioveris's ordinary activity, sold to a customer.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000005","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"TELECOM","tested_point":"PORTFOLIO_EXPEDIENT_CONDITION","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"portfolio"},"references":["IFRS 15 §4"],"exercise":{"prompt":{"fr":"","en":"A telecom operator that manages more than 100,000 subscriptions may, because of that volume alone, apply IFRS 15 on a portfolio basis to all its contracts, including its tailor-made negotiated business contracts.","es":""},"explanation":{"fr":"","en":"False. The portfolio approach is an expedient reserved for contracts (or performance obligations) with similar characteristics, and only if the entity reasonably expects that the effect on the financial statements would not differ materially from applying the standard contract by contract (IFRS 15, para. 4). Volume is not enough; tailor-made negotiated contracts do not have characteristics similar to those of standard subscriptions.","es":""},"common_error":{"fr":"","en":"Seeing the portfolio approach as a right linked to the entity's size rather than as a conditional expedient.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000006","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"INDUSTRIAL","tested_point":"PARTLY_IN_SCOPE_ORDER","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"partly-in-scope"},"references":["IFRS 15 §5","IFRS 15 §7"],"exercise":{"prompt":{"fr":"","en":"Ternova (fictitious entity) sells maintenance services to an industrial customer and, in the same contract, grants it a loan to finance its spare parts. The loan falls within IFRS 9 (case data). An assistant has drafted the memo below. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"A contract partly within another standard is dealt with in a precise order: separation and/or initial measurement under the other standard if it provides for it, exclusion of that amount from the transaction price, allocation of the remainder under IFRS 15; where the other standard has no such requirements, IFRS 15 applies to the separation or measurement (IFRS 15, para. 7). The exclusion of financial instruments concerns the instrument, not the whole contract (IFRS 15, para. 5).","es":""},"common_error":{"fr":"","en":"Reasoning 'all or nothing': either the whole contract under IFRS 15, or the whole contract outside IFRS 15.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The contract contains a part within another standard; the separation and/or initial measurement requirements of that other standard are applied to that part first.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"The total amount invoiced to the customer, loan included, is the IFRS 15 transaction price to be allocated.","es":""},"erroneous":true,"correction":{"fr":"","en":"The amount measured under the other standard is excluded from the transaction price; only any remainder is allocated under IFRS 15.","es":""}},{"id":"S3","text":{"fr":"","en":"Any remainder is allocated to the performance obligations under the IFRS 15 allocation rules.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"If the other standard did not say how to separate or measure its part, the whole contract would fall outside IFRS 15.","es":""},"erroneous":true,"correction":{"fr":"","en":"In that case, the entity applies IFRS 15 to separate and/or initially measure that part.","es":""}},{"id":"S5","text":{"fr":"","en":"Because the contract contains a financial instrument, the maintenance also falls within IFRS 9.","es":""},"erroneous":true,"correction":{"fr":"","en":"Only the financial instrument is excluded; the maintenance sold to the customer remains within IFRS 15.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000007","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL","IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"GENERIC","tested_point":"MIXED_CONTRACT_SORTING","difficulty":"INTERMEDIATE","estimated_time_s":300,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"how"},"references":["IFRS 15 §5","IFRS 15 §6","IFRS 15 §7","IFRS 15 §8"],"exercise":{"prompt":{"fr":"","en":"Analyse the scope of the contract entered into by Calyrion.","es":""},"explanation":{"fr":"","en":"The sorting is done element by element: customer and ordinary activity (IFRS 15, para. 6), exclusion of the loan (IFRS 15, para. 5), order of treatment of the mixed contract (IFRS 15, para. 7) and costs of obtaining within the scope (IFRS 15, para. 8).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Calyrion (fictitious entity) manufactures industrial boilers. It signs with an industrial laundry a single contract comprising: the sale of a boiler, three years of servicing, and a loan of 50,000 granted to the customer to finance its connection works, repayable with interest. The loan falls within IFRS 9 (case data). To obtain this contract, Calyrion paid its salesperson a commission due only because the contract was signed.","es":""},"parts":[{"prompt":{"fr":"","en":"Classify each element of the contract.","es":""},"explanation":{"fr":"","en":"The boiler and the servicing are goods and services that are an output of Calyrion's ordinary activity, sold to a customer (IFRS 15, para. 6). The loan is a financial instrument excluded from IFRS 15 (IFRS 15, para. 5).","es":""},"common_error":{"fr":"","en":"Including the loan in the IFRS 15 contract: a financial instrument falls under another standard.","es":""},"format":"CLASSIFICATION","categories":[{"id":"IFRS15","text":{"fr":"","en":"Within IFRS 15","es":""}},{"id":"OTHER","text":{"fr":"","en":"Within another standard","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Sale of the boiler","es":""},"category":"IFRS15"},{"id":"I2","text":{"fr":"","en":"Three years of servicing","es":""},"category":"IFRS15"},{"id":"I3","text":{"fr":"","en":"Loan of 50,000 repayable with interest","es":""},"category":"OTHER"}],"id":"P1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"How should the amount to be accounted for under IFRS 15 be determined?","es":""},"explanation":{"fr":"","en":"The separation and/or measurement requirements of the other standard apply first; the amount so measured is excluded from the transaction price and the remainder is allocated under IFRS 15 (IFRS 15, para. 7). Measurement under IFRS 9 is not taught in this course.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"First measure the loan under IFRS 9, exclude it from the transaction price, then allocate the remainder to the boiler and the servicing under IFRS 15","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Allocate the total contract amount to the boiler, the servicing and the loan under IFRS 15","es":""},"correct":false,"feedback":{"fr":"","en":"The loan is not an IFRS 15 performance obligation: it is separated and measured first under its own standard.","es":""}},{"id":"C","text":{"fr":"","en":"Exclude the whole contract from IFRS 15 since it contains a financial instrument","es":""},"correct":false,"feedback":{"fr":"","en":"The exclusion concerns only the financial instrument; the boiler and the servicing remain within the scope.","es":""}}],"id":"P2","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"The commission paid to the salesperson, due only because the contract was signed, also falls within the requirements of IFRS 15.","es":""},"explanation":{"fr":"","en":"True. IFRS 15 also governs the incremental costs of obtaining a contract when they relate to a contract (or part of a contract) within its scope (IFRS 15, para. 8). Their treatment is studied in lesson 000013.","es":""},"common_error":{"fr":"","en":"Excluding the commission from IFRS 15 because it is not revenue: the standard also governs costs of obtaining a contract.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000008","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"FAILED_CONTRACT_CRITERION","difficulty":"BEGINNER","estimated_time_s":120,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"five-criteria"},"references":["IFRS 15 §9"],"exercise":{"prompt":{"fr":"","en":"In each situation, only one of the five contract criteria is not met. Link each situation to the missing criterion.","es":""},"explanation":{"fr":"","en":"The five criteria are cumulative: (a) approval (written, oral or in line with customary practices) and commitment; (b) identifiable rights of each party; (c) identifiable payment terms; (d) commercial substance; (e) probable collection, assessed on the customer's ability and intention to pay when due (IFRS 15, para. 9). A single missing criterion is enough for there to be no contract within the meaning of the standard.","es":""},"common_error":{"fr":"","en":"Confusing identifiable rights (what each party is to receive in goods or services) with payment terms (how and when the customer pays).","es":""},"format":"CLASSIFICATION","categories":[{"id":"APPROVAL","text":{"fr":"","en":"Approval and commitment of the parties","es":""}},{"id":"RIGHTS","text":{"fr":"","en":"Identifiable rights","es":""}},{"id":"PAYMENT_TERMS","text":{"fr":"","en":"Identifiable payment terms","es":""}},{"id":"SUBSTANCE","text":{"fr":"","en":"Commercial substance","es":""}},{"id":"COLLECTION","text":{"fr":"","en":"Probable collection","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"The quote has been sent, but the customer has neither signed it, nor accepted it orally, nor acted on it in line with a customary practice","es":""},"category":"APPROVAL"},{"id":"I2","text":{"fr":"","en":"The contract sets a price and a payment schedule, but refers to a 'list of services to be defined later'","es":""},"category":"RIGHTS"},{"id":"I3","text":{"fr":"","en":"The deliverables are described precisely, but the price and the settlement terms remain to be negotiated","es":""},"category":"PAYMENT_TERMS"},{"id":"I4","text":{"fr":"","en":"Two companies invoice each other consulting services of the same amount, with no effect on their future cash flows","es":""},"category":"SUBSTANCE"},{"id":"I5","text":{"fr":"","en":"The customer, whose accounts are frozen by court proceedings, will not have the means to pay when payment falls due","es":""},"category":"COLLECTION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000009","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"REAL_ESTATE","tested_point":"COLLECTABILITY_VERSUS_PRICE_CONCESSION","difficulty":"ADVANCED","estimated_time_s":360,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"judgment"},"references":["IFRS 15 §9","IFRS 15 §14","IFRS 15 §16"],"exercise":{"prompt":{"fr":"","en":"Assess the collectability criterion for Promovia's two sales.","es":""},"explanation":{"fr":"","en":"A price concession and credit risk are not treated in the same way: the former reduces the amount to which the entity will be entitled (plot A, criterion met); the latter, if it makes collection improbable, makes criterion (e) fail (plot B, liability) (IFRS 15, paras. 9 and 16). Characterising the gap is a matter of judgement, here given by the case.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Promovia (fictitious entity) develops and sells building plots in a business park. It signs two sale agreements in the same month. Plot A: contract price 800,000; to speed up the marketing of the park, Promovia usually grants buyers a reduction of about 5% on completion and expects to receive 760,000. The buyer has bank financing approved for that amount. Plot B: contract price 500,000; the buyer is a newly formed company with no equity, whose loan application has been refused; it has paid a non-refundable deposit of 25,000. Promovia has no intention of granting a reduction on plot B.","es":""},"exhibits":[{"title":{"fr":"","en":"Analysis adopted by management (judgement given by the case)","es":""},"body":{"fr":"","en":"Plot A: the 40,000 gap results from a price concession granted voluntarily by Promovia, not from doubt about the buyer's creditworthiness. Plot B: the buyer has neither the means nor any prospect of financing to pay the balance when due.","es":""}}],"parts":[{"prompt":{"fr":"","en":"Plot A: on which amount does Promovia assess the probability of collection?","es":""},"explanation":{"fr":"","en":"800,000 × 5% = 40,000; 800,000 − 40,000 = 760,000. Collection is assessed on the consideration to which the entity will be entitled, which may be lower than the contract price if there is a price concession (IFRS 15, para. 9).","es":""},"common_error":{"fr":"","en":"Assessing collectability on the contract price: the expected price concession reduces the amount the entity will be entitled to.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Contract price of plot A","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Expected price concession","es":""},"value":"5","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Amount of the concession","es":""},"answer":40000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Amount to which Promovia expects to be entitled","es":""},"answer":760000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Amount of the concession","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract price of plot A","es":""},"value":800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Expected price concession","es":""},"value":5,"unit":"PERCENT"}],"result":40000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Amount to which Promovia expects to be entitled","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract price of plot A","es":""},"value":800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Amount of the concession","es":""},"value":40000,"unit":"EUR"}],"result":760000,"unit":"EUR"}],"references":["REF.IFRS15.9"]}},{"prompt":{"fr":"","en":"Plot A: is the collectability criterion met?","es":""},"explanation":{"fr":"","en":"Collection is assessed solely on the customer's ability and intention to pay, when due, the consideration to which the entity will be entitled (760,000) (IFRS 15, para. 9). The 40,000 concession will be reflected in the transaction price (step 3, lesson 000004).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes: the buyer has the ability and intention to pay 760,000, the amount to which Promovia expects to be entitled","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No: Promovia will not receive the 800,000 set in the contract","es":""},"correct":false,"feedback":{"fr":"","en":"An expected price concession reduces the amount to which the entity will be entitled; it does not, on its own, make the collectability criterion fail.","es":""}},{"id":"C","text":{"fr":"","en":"It is impossible to conclude before the price is actually collected","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion is assessed at contract inception, on the probability of collection; collection itself is not required.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Plot B: how should the 25,000 deposit be accounted for?","es":""},"explanation":{"fr":"","en":"The buyer has neither the ability nor the prospect of paying: criterion (e) is not met (IFRS 15, para. 9). The deposit received is a liability measured at the amount received (IFRS 15, para. 16), and Promovia keeps assessing whether the criteria become met, for example if financing is obtained (IFRS 15, para. 14).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As revenue, since it is non-refundable","es":""},"correct":false,"feedback":{"fr":"","en":"Being non-refundable is not enough: Promovia still has to deliver the plot and the contract has not been terminated.","es":""}},{"id":"B","text":{"fr":"","en":"As a liability measured at 25,000, while continuing to assess the contract criteria","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As revenue of 500,000 and an impairment of the receivable of 475,000","es":""},"correct":false,"feedback":{"fr":"","en":"Without probable collection there is no contract within the meaning of IFRS 15: no revenue can be recognised on the price.","es":""}}],"id":"P3","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000010","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"APPLICATION","format":"MINI_CASE","context":"SOFTWARE","tested_point":"CUSTOMARY_PRACTICE_CONTRACT_AND_TERM","difficulty":"INTERMEDIATE","estimated_time_s":300,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §9","IFRS 15 §10","IFRS 15 §11"],"exercise":{"prompt":{"fr":"","en":"Analyse the existence and term of the contract between Logimeta and its customer.","es":""},"explanation":{"fr":"","en":"The form of the contract matters little (IFRS 15, para. 10); the five criteria are assessed on the facts (IFRS 15, para. 9); the term used is that of the presently enforceable rights and obligations (IFRS 15, para. 11).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Logimeta (fictitious entity) publishes planning software offered on subscription. A firm of architects has used it for four years without a signed contract: at the start of each month, it confirms the number of users by telephone, Logimeta opens the access and invoices at the published rate, payable at 30 days; the customer has always paid. Under the published general terms, either party can end the subscription at the end of any month, without penalty. The applicable law recognises such agreements as enforceable (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"In the absence of a written and signed contract, there is no contract within the meaning of IFRS 15 between Logimeta and the firm.","es":""},"explanation":{"fr":"","en":"False. A contract may be written, oral or implied by customary business practices; what matters is whether the rights and obligations are enforceable, which is a matter of law (IFRS 15, para. 10).","es":""},"common_error":{"fr":"","en":"Requiring a signed document: a contract can be oral or arise from customary practice, if enforceable.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P1","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"Which elements of the case support the conclusion that the contract criteria are met for the confirmed month?","es":""},"explanation":{"fr":"","en":"Approval in line with customary practices, identifiable rights and payment terms, probable collection given the customer's ability and intention to pay: these elements meet the criteria in paragraph 9 (IFRS 15, paras. 9 and 10). Commercial substance is not in question: the subscription changes Logimeta's cash flows.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The telephone confirmation followed by the opening of access, in line with a consistent practice","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The number of users and the published rate, which identify the rights and payment terms","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The customer's regular payment history","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Logimeta's length of time in its market","es":""},"correct":false,"feedback":{"fr":"","en":"The publisher's length of time in the market is not a criterion: only approval, rights, payment, commercial substance and collection count.","es":""}}],"id":"P2","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Over which term does Logimeta apply IFRS 15 to this contract?","es":""},"explanation":{"fr":"","en":"Since either party can terminate without penalty at the end of each month, the present enforceable rights and obligations cover the confirmed month; that is the term to which the standard applies (IFRS 15, para. 11).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Four years, the historical length of the relationship","es":""},"correct":false,"feedback":{"fr":"","en":"The history of the relationship does not create enforceable rights for the future.","es":""}},{"id":"B","text":{"fr":"","en":"The confirmed month, the only period over which present enforceable rights and obligations exist","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An indefinite term, since the contract renews automatically","es":""},"correct":false,"feedback":{"fr":"","en":"For a contract without a fixed term, the standard applies to the period over which the rights and obligations are presently enforceable.","es":""}}],"id":"P3","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000011","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"AUTOMOTIVE","tested_point":"DEPOSIT_WITHOUT_CONTRACT_TERMINATION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"entry"},"references":["IFRS 15 §15","IFRS 15 §16"],"exercise":{"prompt":{"fr":"","en":"Mécaflex (fictitious entity) is building a stamping press for an automotive supplier, at a price of 420,000. From the outset, collection is judged improbable (criterion not met, judgement given by the case). The customer has paid two non-refundable deposits of 20,000 and then 25,000, recorded as a liability. No press has been delivered. The customer terminates the contract; the deposits remain with Mécaflex, which no longer has any obligation towards it. Record the entry at the termination date.","es":""},"explanation":{"fr":"","en":"As long as the contract criteria are not met, the amounts received are a liability measured at the amount received: 20,000 + 25,000 = 45,000 (IFRS 15, para. 16). Termination of the contract, with non-refundable consideration received, is one of the events that allow that amount to be recognised as revenue (IFRS 15, para. 15). Entry: debit Liability — consideration received 45,000, credit Revenue 45,000 (balanced). No revenue is recognised on the remaining 375,000, which is never received.","es":""},"common_error":{"fr":"","en":"Crediting revenue of 420,000 and recognising a receivable, although there is no contract within the meaning of the standard.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"CONSIDERATION_RECEIVED_LIABILITY","text":{"fr":"","en":"Liability — consideration received","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"TRADE_RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}}],"lines":[{"id":"L1","account":"CONSIDERATION_RECEIVED_LIABILITY","side":"DEBIT","amount":45000},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":45000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000012","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"WHOLLY_UNPERFORMED_CONTRACT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"term-and-wholly-unperformed"},"references":["IFRS 15 §12"],"exercise":{"prompt":{"fr":"","en":"A wholesaler signs with a chain of stores a supply agreement for 12 monthly deliveries. Either party can end it without compensation. The first delivery has been made and invoiced; payment is due at 30 days. Does the 'wholly unperformed contract' exception allow the conclusion that there is no contract?","es":""},"explanation":{"fr":"","en":"There is no contract if each party can terminate a wholly unperformed contract without compensation, that is, a contract in which the entity has not yet transferred any good or service and has not received, and is not entitled to receive, any consideration (IFRS 15, para. 12). Here, a delivery has taken place and payment is due: the exception does not apply, and the analysis of the other criteria continues.","es":""},"common_error":{"fr":"","en":"Keeping only one of the two conditions (right to terminate) and forgetting the condition of no performance at all.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, since either party can terminate without compensation","es":""},"correct":false,"feedback":{"fr":"","en":"The right to terminate without compensation is not enough: the exception only covers a contract that is still wholly unperformed.","es":""}},{"id":"B","text":{"fr":"","en":"No: the wholesaler has already delivered and is entitled to consideration, so the contract is no longer wholly unperformed","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, as long as the first invoice has not been collected","es":""},"correct":false,"feedback":{"fr":"","en":"It is enough that the entity has transferred a good, or is entitled to receive consideration, for the contract to no longer be wholly unperformed; collection is not required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000013","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"TELECOM","tested_point":"REASSESSMENT_AFTER_SIGNIFICANT_CHANGE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"reassessment"},"references":["IFRS 15 §13"],"exercise":{"prompt":{"fr":"","en":"For one year, an operator has been providing data links to a retail chain under a three-year contract whose criteria were met at the outset. The chain enters safeguard proceedings and its ability to pay deteriorates sharply. The operator must reassess the probability of collection for the services still to be provided.","es":""},"explanation":{"fr":"","en":"True. Criteria met at inception are not reassessed unless there is an indication of a significant change in facts and circumstances; a significant deterioration in the customer's ability to pay is the typical example, and the reassessment covers the goods or services still to be transferred (IFRS 15, para. 13).","es":""},"common_error":{"fr":"","en":"Thinking that, once the contract has qualified, the criteria are never examined again, or conversely that they are examined at every reporting date.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000014","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"CONSTRUCTION","tested_point":"CONTRACT_COMBINATION_CONDITIONS","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"A civil engineering company has drafted an internal sheet on combining contracts. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"The entity combines two or more contracts entered into at or near the same time with the same customer (or its related parties) if at least one criterion is met: negotiated as a package with a single commercial objective, the amount of one contract depending on the price or performance of the other, or goods or services forming a single performance obligation (IFRS 15, para. 17).","es":""},"common_error":{"fr":"","en":"Reading the three criteria as cumulative, or forgetting the prerequisite of the same customer and nearby dates.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Two contracts can only be combined if all three combination criteria are met at the same time.","es":""},"erroneous":true,"correction":{"fr":"","en":"One of the three criteria is enough, provided the contracts are entered into with the same customer (or its related parties) at or near the same time.","es":""}},{"id":"S2","text":{"fr":"","en":"A contract entered into with a customer's subsidiary may be combined with a contract entered into on the same day with that customer.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"Two contracts signed in the same month with two unrelated customers are combined if they concern the same type of structure.","es":""},"erroneous":true,"correction":{"fr":"","en":"Combination requires the same customer or its related parties; similar structures are not enough.","es":""}},{"id":"S4","text":{"fr":"","en":"If the price of the earthworks contract depends on the performance of the civil engineering contract signed at the same time with the same customer, the two contracts are combined.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"Contracts negotiated separately, months apart, are combined as soon as they are billed on the same invoice.","es":""},"erroneous":true,"correction":{"fr":"","en":"Joint billing is not a criterion: the contracts must be entered into at or near the same time and meet one of the three criteria (negotiated as a package, interdependent prices, single performance obligation).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000015","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"APPLICATION","format":"MULTIPLE_CHOICE","context":"ENERGY","tested_point":"CONTRACT_COMBINATION_CRITERIA_MET","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000002","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"Voltène (fictitious entity) installs photovoltaic plants. On 3 March, it signs with an agricultural cooperative a grid connection study contract at 15,000; on 5 March, it signs with the operating company wholly owned by that cooperative a contract to build the plant at 1,200,000. Both contracts come from the same consultation and a single negotiation; the construction contract provides for a 15,000 discount if the study is not delivered on time. The study is a deliverable the cooperative could entrust to another engineering firm (case data). Which statements are correct?","es":""},"explanation":{"fr":"","en":"Contracts entered into two days apart with a customer and its related party; single negotiation; discount on construction linked to the performance of the study: two criteria are met whereas one is enough. The two contracts are accounted for as a single contract, with a total contractual price of 1,215,000 (IFRS 15, para. 17); the possible 15,000 discount will be analysed as variable consideration in step 3 (lesson 000004). The number of performance obligations in that single contract will then be determined in step 2 (lesson 000003).","es":""},"common_error":{"fr":"","en":"Confusing the combination of contracts (step 1) with the combination of non-distinct promises (step 2).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The prerequisite is met: contracts entered into at nearby dates with a customer and its related party","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The criterion of negotiation as a package with a single commercial objective is met","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The criterion of the amount of one contract depending on the performance of the other is met","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The contracts cannot be combined because they are signed with two different legal entities","es":""},"correct":false,"feedback":{"fr":"","en":"Combination also covers contracts entered into with the customer's related parties; the wholly owned subsidiary is one.","es":""}},{"id":"E","text":{"fr":"","en":"The contracts can only be combined if the study and the plant form a single performance obligation","es":""},"correct":false,"feedback":{"fr":"","en":"This is only one of the three alternative criteria; two others are already met here. Combination does not, moreover, prejudge the number of obligations, analysed afterwards in step 2.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000016","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"SOFTWARE","tested_point":"LICENCE_WITH_SIGNIFICANT_CUSTOMISATION","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"separately-identifiable"},"references":["IFRS 15 §27","IFRS 15 §28","IFRS 15 §29","IFRS 15 §30"],"exercise":{"prompt":{"fr":"","en":"Identify the performance obligations in Quantelis's contract.","es":""},"explanation":{"fr":"","en":"The first criterion (capable of being distinct) is met by the licence, which is sold separately; the second (distinct within the context of the contract) is not, because of the significant customisation and the integration commitment (IFRS 15, paras. 27 to 29). Licence and customisation form a single obligation; the support is a distinct obligation (IFRS 15, para. 30).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Quantelis (fictitious entity) publishes production management software. It signs with a furniture manufacturer a contract comprising: a licence to use the software, which Quantelis also sells on its own to other customers; a 10-month customisation project during which Quantelis's teams rewrite several modules and develop interfaces with the customer's machines, so that the software will only work at the customer's site once this work is complete; one year of standard telephone support, sold separately at the same rate to all customers. Quantelis contractually commits to the functioning of the customised whole.","es":""},"parts":[{"prompt":{"fr":"","en":"Since Quantelis sells the licence on its own to other customers, the licence is necessarily a distinct performance obligation in this contract.","es":""},"explanation":{"fr":"","en":"False. Separate sale indicates that the licence is capable of being distinct (first criterion) (IFRS 15, para. 28); it must also be distinct within the context of the contract, that is, separately identifiable from the other promises (IFRS 15, paras. 27 and 29).","es":""},"common_error":{"fr":"","en":"Stopping at the first criterion: the licence must also be distinct in the context of the contract.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P1","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"Which facts of the case indicate that the licence and the customisation are not separately identifiable?","es":""},"explanation":{"fr":"","en":"Significant customisation of one item by another and a significant service of integration into a combined output are two indicators that promises are not separately identifiable (IFRS 15, para. 29).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Quantelis's teams rewrite modules of the software: the customisation significantly modifies the licence","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Quantelis commits to the functioning of the customised whole, which reflects an integration service into a combined output","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The contract bundles the three items under a single overall price","es":""},"correct":false,"feedback":{"fr":"","en":"An overall price says nothing about whether items are distinct: it will be allocated in step 4.","es":""}},{"id":"D","text":{"fr":"","en":"The telephone support is provided for one year","es":""},"correct":false,"feedback":{"fr":"","en":"The duration of the support is not an indicator of integration; the standard support modifies neither the licence nor the customisation.","es":""}}],"id":"P2","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"How many performance obligations does the contract contain?","es":""},"explanation":{"fr":"","en":"Non-distinct promises are combined until a distinct bundle is obtained (IFRS 15, para. 30): licence + customisation form one obligation; the support, which meets both criteria, forms another (IFRS 15, para. 27). Conclusion based on the facts of the case; other facts (simple standard configuration) could lead to another conclusion.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Three: licence, customisation, support","es":""},"correct":false,"feedback":{"fr":"","en":"The licence and the customisation are inputs to adapted software: they are not distinct within the context of the contract.","es":""}},{"id":"B","text":{"fr":"","en":"Two: the customised software (licence and customisation) and the support","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"One, because everything is sold in the same contract","es":""},"correct":false,"feedback":{"fr":"","en":"The standard support is capable of being distinct (sold separately) and does not modify the software: it remains a separate obligation.","es":""}}],"id":"P3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000017","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION","IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"CONSTRUCTION","tested_point":"CONSTRUCTION_INPUTS_COMBINED","difficulty":"ADVANCED","estimated_time_s":360,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"combine-until-distinct"},"references":["IFRS 15 §25","IFRS 15 §27","IFRS 15 §28","IFRS 15 §29","IFRS 15 §30"],"exercise":{"prompt":{"fr":"","en":"Split Orvel Construction's contract into performance obligations.","es":""},"explanation":{"fr":"","en":"Full approach: set aside the set-up activity (IFRS 15, para. 25), test both criteria (IFRS 15, paras. 27 to 29), combine the integrated inputs until a distinct bundle is obtained (IFRS 15, para. 30).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Orvel Construction (fictitious entity) signs with a logistics company a contract to build a turnkey warehouse. Orvel supplies the materials (concrete, frame, cladding), the labour and site management; it is responsible for delivering a compliant building and coordinates all the trades. The contract also provides for the supply of 300 standard metal shelving units, delivered flat-packed on acceptance of the building; the customer will assemble them itself or have them assembled by the installer of its choice; other suppliers sell the same shelving. Before work starts, Orvel opens a site file and checks the customer's insurance.","es":""},"parts":[{"prompt":{"fr":"","en":"Classify each element of the contract.","es":""},"explanation":{"fr":"","en":"Materials, labour and site management are integrated by Orvel into a building delivered turnkey: they are inputs to a combined output (IFRS 15, para. 29). The shelving is capable of being distinct (sold by others) and is neither integrated nor modified by the construction (IFRS 15, paras. 27 and 28). The site file transfers nothing to the customer (IFRS 15, para. 25).","es":""},"common_error":{"fr":"","en":"Treating materials and labour as separate obligations: integrated into the building, they are inputs to a combined output.","es":""},"format":"CLASSIFICATION","categories":[{"id":"INPUT","text":{"fr":"","en":"Input to the combined structure","es":""}},{"id":"DISTINCT","text":{"fr":"","en":"Distinct good or service","es":""}},{"id":"SETUP","text":{"fr":"","en":"Set-up activity","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Construction materials","es":""},"category":"INPUT"},{"id":"I2","text":{"fr":"","en":"Labour on site","es":""},"category":"INPUT"},{"id":"I3","text":{"fr":"","en":"Site management and coordination of the trades","es":""},"category":"INPUT"},{"id":"I4","text":{"fr":"","en":"300 standard shelving units delivered flat-packed","es":""},"category":"DISTINCT"},{"id":"I5","text":{"fr":"","en":"Opening the site file and checking the insurance","es":""},"category":"SETUP"}],"id":"P1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"How many performance obligations does the contract contain?","es":""},"explanation":{"fr":"","en":"The non-distinct inputs are combined into a distinct bundle, the warehouse (IFRS 15, para. 30); the shelving is distinct (IFRS 15, para. 27). Two obligations.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Two: the warehouse and the shelving","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Five: one per element of the contract","es":""},"correct":false,"feedback":{"fr":"","en":"The integrated inputs form a single structure, and a set-up activity is never an obligation.","es":""}},{"id":"C","text":{"fr":"","en":"One, because everything is delivered on acceptance of the building","es":""},"correct":false,"feedback":{"fr":"","en":"Being delivered at the same time does not make items inseparable: the shelving is not integrated into the building.","es":""}}],"id":"P2","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"Since concrete can be bought from other suppliers, its supply is a distinct performance obligation in this contract.","es":""},"explanation":{"fr":"","en":"False. Concrete is capable of being distinct (first criterion, IFRS 15, para. 28), but it is not distinct within the context of the contract: Orvel integrates it, with the other inputs, into the promised building (IFRS 15, para. 29).","es":""},"common_error":{"fr":"","en":"Concluding the good is distinct as soon as it is sold elsewhere: it must also not be integrated into the promised output.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000018","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"AUTOMOTIVE","tested_point":"DISTINCT_OR_COMBINED","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §27","IFRS 15 §28","IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"A manufacturer of equipment for the automotive industry enters into several contracts. For each highlighted promise, state whether it is distinct or must be combined with other promises in the same contract.","es":""},"explanation":{"fr":"","en":"A promise is distinct if the customer can benefit from it on its own or with readily available resources and if it is separately identifiable from the other promises (IFRS 15, paras. 27 and 28). Significant integration into an operational line and high interdependence between design and tooling show, on the contrary, that these items are inputs to a combined output (IFRS 15, para. 29).","es":""},"common_error":{"fr":"","en":"Concluding that items are integrated because they are delivered together, or distinct because they exist on the market.","es":""},"format":"CLASSIFICATION","categories":[{"id":"DISTINCT","text":{"fr":"","en":"Distinct (separate performance obligation)","es":""}},{"id":"COMBINED","text":{"fr":"","en":"Not distinct (to be combined)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"A standard welding robot, also sold on its own, which the customer can have installed by a third-party integrator","es":""},"category":"DISTINCT"},{"id":"I2","text":{"fr":"","en":"Conveyors, robots and controllers that the manufacturer assembles and tunes to deliver an operational assembly line whose throughput it guarantees","es":""},"category":"COMBINED"},{"id":"I3","text":{"fr":"","en":"A batch of standard spare parts, delivered with a machine and available in the manufacturer's catalogue","es":""},"category":"DISTINCT"},{"id":"I4","text":{"fr":"","en":"A press tool designed and modified through successive trials, the design and the tool being adjusted to each other until validation","es":""},"category":"COMBINED"},{"id":"I5","text":{"fr":"","en":"Standard operator training, which other providers also offer, after the delivery of a standard machine","es":""},"category":"DISTINCT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000019","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"SOFTWARE","tested_point":"PROMISE_OR_SETUP_ACTIVITY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"setup-activities"},"references":["IFRS 15 §22","IFRS 15 §25"],"exercise":{"prompt":{"fr":"","en":"An online software publisher signs with a network of clinics a two-year contract for access to its appointment-booking platform. Classify each item.","es":""},"explanation":{"fr":"","en":"A performance obligation requires a promise to transfer a good or service to the customer (IFRS 15, para. 22). The creditworthiness check and the creation of an account in the internal tool are activities needed to fulfil the contract that transfer nothing to the customer: they are not obligations (IFRS 15, para. 25). Access, training and reports are promises, whose distinct nature remains to be tested.","es":""},"common_error":{"fr":"","en":"Considering every task performed for a customer as a promise, even when it only serves the entity's internal organisation.","es":""},"format":"CLASSIFICATION","categories":[{"id":"PROMISE","text":{"fr":"","en":"Promise to analyse","es":""}},{"id":"SETUP","text":{"fr":"","en":"Set-up activity","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Access for the clinics to the platform for two years","es":""},"category":"PROMISE"},{"id":"I2","text":{"fr":"","en":"Internal check of the network's creditworthiness before signature","es":""},"category":"SETUP"},{"id":"I3","text":{"fr":"","en":"Three training sessions for the medical secretaries on using the platform","es":""},"category":"PROMISE"},{"id":"I4","text":{"fr":"","en":"Creation of the network's account in the publisher's internal billing tool","es":""},"category":"SETUP"},{"id":"I5","text":{"fr":"","en":"Monthly sending to the clinics of a statistical report on their appointments, provided for in the contract","es":""},"category":"PROMISE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000020","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"SERIES_SAME_PATTERN_CONDITION","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"series"},"references":["IFRS 15 §22","IFRS 15 §23"],"exercise":{"prompt":{"fr":"","en":"A wood pellet producer undertakes to deliver 24 identical monthly cargoes to a network of boiler plants. Each cargo is distinct and, according to the case data, the customer obtains control of it on delivery, at a point in time. How should the performance obligations be identified?","es":""},"explanation":{"fr":"","en":"A series forms a single obligation if the distinct goods or services are substantially the same and transferred with the same pattern (IFRS 15, para. 22(b)); the same pattern requires each item to meet the criteria for an obligation satisfied over time and to be measured by the same method (IFRS 15, para. 23). Cargoes each transferred at a point in time do not meet that condition: each distinct cargo is an obligation.","es":""},"common_error":{"fr":"","en":"Using 'identical' as the only criterion for a series and forgetting the over-time transfer condition.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A single obligation: the identical cargoes form a series","es":""},"correct":false,"feedback":{"fr":"","en":"Being substantially the same is not enough: a series also requires the same pattern of transfer, which requires each item to be satisfied over time.","es":""}},{"id":"B","text":{"fr":"","en":"Each distinct cargo is a performance obligation, satisfied on its delivery","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A single obligation, since the contract sets an overall price for the 24 cargoes","es":""},"correct":false,"feedback":{"fr":"","en":"The overall price is allocated in step 4; it does not determine the number of obligations.","es":""}},{"id":"D","text":{"fr":"","en":"One obligation per invoice, invoicing being quarterly","es":""},"correct":false,"feedback":{"fr":"","en":"The invoicing pattern is irrelevant: only what is transferred to the customer, and how, counts.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000021","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"SEPARATELY_IDENTIFIABLE_INDICATORS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"separately-identifiable"},"references":["IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"Which of the following are indicators that a promise is not separately identifiable from the other promises in the contract?","es":""},"explanation":{"fr":"","en":"The objective is to determine whether the entity promises to transfer each item individually or a combined item of which they are inputs. The three indicators of non-separability are significant integration, significant customisation or modification, and high interdependence (IFRS 15, para. 29).","es":""},"common_error":{"fr":"","en":"Mixing up the indicators of the first criterion (separate sale) with those of the second (integration, customisation, interdependence).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity provides a significant service of integrating the goods or services into a combined output","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"One item significantly modifies or customises another promised item","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The goods or services are highly interdependent: each is significantly affected by the other","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The items are delivered on the same day","es":""},"correct":false,"feedback":{"fr":"","en":"A grouped delivery is not integration: items delivered together may remain distinct.","es":""}},{"id":"E","text":{"fr":"","en":"The contract sets a single price for the whole","es":""},"correct":false,"feedback":{"fr":"","en":"The single price is allocated to the obligations in step 4; it says nothing about whether they are distinct.","es":""}},{"id":"F","text":{"fr":"","en":"Other suppliers sell one of the items separately","es":""},"correct":false,"feedback":{"fr":"","en":"On the contrary, this indicates that the item is capable of being distinct (first criterion); it does not answer the second criterion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000022","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"RETAIL","tested_point":"IMPLICIT_PROMISE_PUBLISHED_POLICY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A distributor of professional appliances announces on its website, in its published terms of sale, free commissioning of every industrial dishwasher purchased. A restaurant's purchase order mentions only the appliance. Commissioning may nonetheless be a promise in the contract, to be analysed like the others.","es":""},"explanation":{"fr":"","en":"True. The promises in a contract include implicit promises arising from customary practices, published policies or specific statements of the entity, if, when the contract is entered into, they create a valid expectation in the customer of receiving a good or service (IFRS 15, para. 24). Whether commissioning is distinct then remains to be tested. Being advertised as free changes nothing: part of the price may be allocated to it in step 4.","es":""},"common_error":{"fr":"","en":"Considering only the promises written in the purchase order, or thinking that a 'free' service need not be analysed.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000023","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION","IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"HEALTHCARE","tested_point":"PERFORMANCE_OBLIGATION_MEMO_REVIEW","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"pitfalls"},"references":["IFRS 15 §22","IFRS 15 §23","IFRS 15","IFRS 15 §25","IFRS 15 §27","IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"Medisonde (fictitious entity) sells a clinic an ultrasound scanner, its installation, 36 months of monthly calibration and administration fees of 500. The scanner is sold on its own to other customers; the installation is simple and offered by other technicians; each monthly calibration would be satisfied over time and measured in the same way (case data). Medisonde systematically trains the staff of every customer clinic, without mentioning it in the contract. Spot the errors in the analysis memo below.","es":""},"explanation":{"fr":"","en":"Being distinct requires two criteria (IFRS 15, para. 27), the second being assessed against the indicators of integration, customisation and interdependence (IFRS 15, para. 29). Set-up activities are not obligations (IFRS 15, para. 25). A series of identical services satisfied over time and measured in the same way forms a single obligation (IFRS 15, paras. 22 and 23). Customary practices can create an implicit promise (IFRS 15, para. 24).","es":""},"common_error":{"fr":"","en":"Relying on the written content of the contract and on invoicing rather than on what the customer actually receives.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Since the scanner is sold on its own to other customers, it is distinct; the analysis stops there for this item.","es":""},"erroneous":true,"correction":{"fr":"","en":"Separate sale settles only the first criterion; it must still be checked that the scanner is distinct within the context of the contract (here it is: the simple installation does not modify it).","es":""}},{"id":"S2","text":{"fr":"","en":"The administration fees of 500 are a performance obligation, since they are invoiced to the customer.","es":""},"erroneous":true,"correction":{"fr":"","en":"Opening the file transfers nothing to the customer: it is a set-up activity, not an obligation, even if it is invoiced.","es":""}},{"id":"S3","text":{"fr":"","en":"The 36 monthly calibrations form a series, and therefore a single performance obligation.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"Since training is not mentioned in the contract, it does not need to be analysed.","es":""},"erroneous":true,"correction":{"fr":"","en":"Medisonde's systematic practice may create a valid expectation in the clinic: training is an implicit promise to be analysed.","es":""}},{"id":"S5","text":{"fr":"","en":"The installation, simple and offered by other technicians, is capable of being distinct and does not modify the scanner.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000024","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"ANALYSIS","format":"MATCHING","context":"GENERIC","tested_point":"DISTINCT_CRITERION_DIAGNOSIS","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"judgment"},"references":["IFRS 15 §27","IFRS 15 §28","IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"Match each situation with the diagnosis that best describes it. One diagnosis matches no situation.","es":""},"explanation":{"fr":"","en":"First criterion: can the customer benefit from the item on its own or with readily available resources, that is, resources sold separately or already obtained (IFRS 15, paras. 27 and 28)? The L1 software, unusable without a machine that the customer does not own and cannot obtain, does not meet it. Second criterion: significant integration (L2), significant customisation (L3) and high interdependence (L4) point to inputs to a combined output (IFRS 15, para. 29). L5 meets both criteria. No situation describes a series.","es":""},"common_error":{"fr":"","en":"Reducing every case of non-separability to 'integration', without distinguishing customisation and interdependence, or forgetting to test the first criterion first.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Proprietary embedded software that only works on a machine made by the entity, which the customer does not own, which is not part of the contract and which neither the entity nor anyone else sells separately","es":""}},{"id":"L2","text":{"fr":"","en":"An integrator assembles servers, software and cabling and commits to delivering an operational data centre","es":""}},{"id":"L3","text":{"fr":"","en":"A publisher rewrites part of its software to adapt it to the customer's own business rules","es":""}},{"id":"L4","text":{"fr":"","en":"The design of a mould and its manufacture are adjusted to each other through trials, each change to one causing a change to the other","es":""}},{"id":"L5","text":{"fr":"","en":"A standard printer and its simple installation, which other providers offer","es":""}}],"right":[{"id":"R1","text":{"fr":"","en":"The first criterion is not met: the customer cannot benefit from it on its own or with readily available resources","es":""}},{"id":"R2","text":{"fr":"","en":"Not separately identifiable: significant integration service","es":""}},{"id":"R3","text":{"fr":"","en":"Not separately identifiable: significant customisation","es":""}},{"id":"R4","text":{"fr":"","en":"Not separately identifiable: high interdependence","es":""}},{"id":"R5","text":{"fr":"","en":"Both criteria met: each item is distinct","es":""}},{"id":"R6","text":{"fr":"","en":"Series of distinct goods or services transferred with the same pattern","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"},{"left":"L5","right":"R5"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000025","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION","IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"APPLICATION","format":"ORDERING","context":"TELECOM","tested_point":"STEP_TWO_APPROACH","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000003","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"how"},"references":["IFRS 15 §22","IFRS 15","IFRS 15 §25","IFRS 15 §27","IFRS 15 §29","IFRS 15 §30"],"exercise":{"prompt":{"fr":"","en":"An operator analyses a business contract comprising network equipment, its installation and three years of monitoring. Put the stages of its analysis of the performance obligations in order.","es":""},"explanation":{"fr":"","en":"First list everything promised, explicitly then implicitly (IFRS 15, paras. 22 and 24), set aside what transfers nothing (IFRS 15, para. 25), test both criteria in order: capable of being distinct, then distinct within the context of the contract (IFRS 15, paras. 27 and 29), and conclude by combining what is not distinct (IFRS 15, para. 30) and identifying series (IFRS 15, para. 22).","es":""},"common_error":{"fr":"","en":"Testing whether items are distinct before listing all the promises, and thus forgetting implicit promises.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"List the written promises in the contract","es":""}},{"id":"S2","text":{"fr":"","en":"Add the implicit promises arising from customary practices, published policies or specific statements","es":""}},{"id":"S3","text":{"fr":"","en":"Set aside the set-up activities that transfer nothing to the customer","es":""}},{"id":"S4","text":{"fr":"","en":"Check, for each promise, whether the customer can benefit from it on its own or with readily available resources","es":""}},{"id":"S5","text":{"fr":"","en":"Check whether the promise is separately identifiable (integration, customisation, interdependence)","es":""}},{"id":"S6","text":{"fr":"","en":"Combine the non-distinct promises until a distinct bundle is obtained and recognise series","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000026","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"EXPECTED_VALUE_ESTIMATE","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"estimation-methods"},"references":["IFRS 15 §53","IFRS 15 §54","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"A small household appliance manufacturer sells 600,000 of products a year to a store chain (firm prices and quantities). A year-end rebate depends on the volumes resold. The manufacturer manages many similar contracts with distributors and has reliable statistics (case data). After analysis, it concludes that the constraint removes no part of its estimate (case data). Calculate.","es":""},"explanation":{"fr":"","en":"With many similar contracts and several outcomes, the expected value is suitable (IFRS 15, para. 53): 0 × 25% + 20,000 × 45% + 40,000 × 30% = 0 + 9,000 + 12,000 = 21,000. As the constraint removes nothing (case data, IFRS 15, para. 56), the transaction price is 600,000 − 21,000 = 579,000. The same method will be kept throughout the contract (IFRS 15, para. 54).","es":""},"common_error":{"fr":"","en":"Using the most likely rebate (20,000), whereas the portfolio of similar contracts calls for the expected value.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Annual sales at contract price","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Rebate 0 — probability","es":""},"value":"25","unit":"PERCENT"},{"label":{"fr":"","en":"Rebate of 20,000 — probability","es":""},"value":"45","unit":"PERCENT"},{"label":{"fr":"","en":"Rebate of 40,000 — probability","es":""},"value":"30","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Estimated rebate (expected value)","es":""},"answer":21000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Annual transaction price","es":""},"answer":579000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Annual transaction price","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Annual sales at contract price","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Estimated rebate (expected value)","es":""},"value":21000,"unit":"EUR"}],"result":579000,"unit":"EUR","rationale":{"fr":"","en":"As the constraint removes nothing (case data, IFRS 15, para. 56), the transaction price is 600,000 − 21,000 = 579,000.","es":""}}],"references":["REF.IFRS15.53","REF.IFRS15.54","REF.IFRS15.56"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000027","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"MOST_LIKELY_AMOUNT_AND_CONSTRAINT","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"constraint"},"references":["IFRS 15 §53","IFRS 15 §56","IFRS 15 §57"],"exercise":{"prompt":{"fr":"","en":"A construction company builds a warehouse for a fixed price of 2,000,000. It will earn a single bonus of 50,000 if the warehouse is delivered before 30 September; otherwise nothing. Estimated probability of on-time delivery: 70%. Meeting the date depends mainly on the winter weather and on a framing subcontractor the company has never worked with; after analysing the risk factors, it concludes that it is not highly probable that the bonus will not be reversed (case data). Calculate.","es":""},"explanation":{"fr":"","en":"Only two outcomes: the most likely amount (50,000) better predicts the result than the expected value (50,000 × 70% = 35,000, an amount that cannot occur) (IFRS 15, para. 53). The constraint then leads to excluding the bonus: dependence on the weather and no experience with the subcontractor increase the risk of reversal (IFRS 15, paras. 56 and 57). Transaction price at signature: 2,000,000, to be reconsidered at each reporting date.","es":""},"common_error":{"fr":"","en":"Including 50,000 because 70% seems high: the constraint is assessed against the risk factors, not an isolated percentage.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed price","es":""},"value":"2000000","unit":"EUR"},{"label":{"fr":"","en":"Bonus if delivered on time","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Probability of on-time delivery","es":""},"value":"70","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Bonus estimated using the most likely amount","es":""},"answer":50000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Amount the expected value would give (for comparison)","es":""},"answer":35000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Transaction price at signature","es":""},"answer":2000000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Amount the expected value would give (for comparison)","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Bonus if delivered on time","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Probability of on-time delivery","es":""},"value":70,"unit":"PERCENT"}],"result":35000,"unit":"EUR","rationale":{"fr":"","en":"Only two outcomes: the most likely amount (50,000) better predicts the result than the expected value (50,000 × 70% = 35,000, an amount that cannot occur) (IFRS 15, para. 53).","es":""}}],"references":["REF.IFRS15.53","REF.IFRS15.56","REF.IFRS15.57"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000028","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"PHARMA","tested_point":"THIRD_PARTY_AMOUNTS_EXCLUDED","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"A pharmaceutical wholesaler delivers medicines to a pharmacy and invoices 52,750 including VAT at 5.5% (case data). Calculate.","es":""},"explanation":{"fr":"","en":"Amount excluding tax = 52,750 / 1.055 = 50,000; VAT = 2,750. The VAT is collected on behalf of the State: it is excluded from the transaction price (IFRS 15, para. 47).","es":""},"common_error":{"fr":"","en":"Calculating VAT by applying 5.5% to the tax-inclusive amount (2,901.25), or using 52,750 as revenue.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Amount invoiced including VAT","es":""},"value":"52750","unit":"EUR"},{"label":{"fr":"","en":"VAT rate","es":""},"value":"5.5","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"VAT collected","es":""},"answer":2750,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Transaction price","es":""},"answer":50000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a / (1 + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount invoiced including VAT","es":""},"value":52750,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"VAT rate","es":""},"value":5.5,"unit":"PERCENT"}],"result":50000,"unit":"EUR"}],"references":["REF.IFRS15.47"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000029","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"REFUND_LIABILITY_MEASUREMENT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"refund-liability"},"references":["IFRS 15","IFRS 15 §51"],"exercise":{"prompt":{"fr":"","en":"A company sells 4,000 units at 50 to a distributor in the first half-year, invoiced and payable in 30 days. If the distributor buys more than 10,000 units in the year, it obtains an 8% retrospective rebate on all its units. At the half-year reporting date, the company expects the threshold to be exceeded and has checked the constraint (case data; teaching assumption: taxes ignored). Calculate for the half-year sales.","es":""},"explanation":{"fr":"","en":"Invoiced: 4,000 × 50 = 200,000. The expected rebate makes consideration variable (IFRS 15, para. 51); the part the company expects to give back, 200,000 × 8% = 16,000, is a refund liability excluded from the price (IFRS 15, para. 55). Revenue = 200,000 − 16,000 = 184,000.","es":""},"common_error":{"fr":"","en":"Waiting for year-end to take the rebate into account, and recognising 200,000 of revenue for the half-year.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Units sold in the half-year","es":""},"value":"4000","unit":"UNITS"},{"label":{"fr":"","en":"Unit price invoiced","es":""},"value":"50","unit":"EUR"},{"label":{"fr":"","en":"Expected retrospective rebate","es":""},"value":"8","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Amount invoiced","es":""},"answer":200000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Refund liability","es":""},"answer":16000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Revenue for the half-year","es":""},"answer":184000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Amount invoiced","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Units sold in the half-year","es":""},"value":4000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit price invoiced","es":""},"value":50,"unit":"EUR"}],"result":200000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Refund liability","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount invoiced","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Expected retrospective rebate","es":""},"value":8,"unit":"PERCENT"}],"result":16000,"unit":"EUR","rationale":{"fr":"","en":"the part the company expects to give back, 200,000 × 8% = 16,000, is a refund liability excluded from the price (IFRS 15, para. 55).","es":""}},{"step":"S3","meaning":{"fr":"","en":"Revenue for the half-year","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount invoiced","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Refund liability","es":""},"value":16000,"unit":"EUR"}],"result":184000,"unit":"EUR"}],"references":["REF.IFRS15.55","REF.IFRS15.51"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000030","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"AUTOMOTIVE","tested_point":"REFUND_LIABILITY_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"entry"},"references":["IFRS 15","IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"An automotive supplier delivers and invoices 3,000 parts at 60 to a carmaker. The contract provides a 5% retrospective rebate if the carmaker exceeds an annual volume; the supplier expects the threshold to be exceeded and the constraint removes nothing (case data; teaching assumption: taxes ignored). Record the delivery entry; the debited account is given.","es":""},"explanation":{"fr":"","en":"The receivable is for the amount invoiced, 3,000 × 60 = 180,000. Revenue includes only the amount the supplier expects to be entitled to, 180,000 − 9,000 = 171,000 (IFRS 15, para. 47). The expected rebate, 180,000 × 5% = 9,000, is a refund liability (IFRS 15, para. 55). Check: 180,000 = 171,000 + 9,000.","es":""},"common_error":{"fr":"","en":"Crediting 180,000 to revenue and debiting 9,000 to selling expenses: the rebate reduces revenue, it is not an expense.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"TRADE_RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"REFUND_LIABILITY","text":{"fr":"","en":"Refund liability","es":""}},{"id":"SELLING_EXPENSE","text":{"fr":"","en":"Selling expenses","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}}],"lines":[{"id":"L1","account":"TRADE_RECEIVABLE","side":"DEBIT","amount":180000,"given":["account","side"]},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":171000},{"id":"L3","account":"REFUND_LIABILITY","side":"CREDIT","amount":9000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000031","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"TELECOM","tested_point":"REFUND_LIABILITY_REMEASUREMENT","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"reassessment"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A handset manufacturer sold 150,000 of phones to an operator in the first half-year. At inception, the threshold for the 6% retrospective rebate was not expected to be reached: no liability was recognised. At the quarterly reporting date of 30 September, strong orders make the threshold expected to be exceeded (case data). Record the reassessment entry for the first-half sales (teaching assumptions: only these sales are followed; rebate settled by credit note at year-end).","es":""},"explanation":{"fr":"","en":"At each reporting date, the entity updates the estimated transaction price (IFRS 15, para. 59) and remeasures the refund liability (IFRS 15, para. 55). The rebate now expected, 150,000 × 6% = 9,000, reduces revenue already recognised: debit Revenue, credit Refund liability.","es":""},"common_error":{"fr":"","en":"Debiting a selling expense, or waiting for the credit note at year-end to reduce revenue.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"REFUND_LIABILITY","text":{"fr":"","en":"Refund liability","es":""}},{"id":"SELLING_EXPENSE","text":{"fr":"","en":"Selling expenses","es":""}},{"id":"TRADE_RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}}],"lines":[{"id":"L1","account":"REVENUE","side":"DEBIT","amount":9000},{"id":"L2","account":"REFUND_LIABILITY","side":"CREDIT","amount":9000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000032","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION","IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"HOSPITALITY","tested_point":"VARIABLE_FORMS_AND_THIRD_PARTY_AMOUNTS","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §47","IFRS 15 §51","IFRS 15 §52"],"exercise":{"prompt":{"fr":"","en":"A hotel group signs an allotment contract with a tour operator. Classify each item (case data).","es":""},"explanation":{"fr":"","en":"Amounts collected for third parties (tourist tax, VAT) are excluded from the transaction price (IFRS 15, para. 47). Rebates and penalties make consideration variable (IFRS 15, para. 51), as does a concession expected because of customary practices, even without a clause (IFRS 15, para. 52). The price per night for firm quantities is fixed.","es":""},"common_error":{"fr":"","en":"Including VAT or tourist tax in the price, or treating a customary unwritten concession as fixed.","es":""},"format":"CLASSIFICATION","categories":[{"id":"FIXED","text":{"fr":"","en":"Fixed consideration","es":""}},{"id":"VARIABLE","text":{"fr":"","en":"Variable consideration","es":""}},{"id":"EXCLUDED","text":{"fr":"","en":"Amount excluded from the price (collected for a third party)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Price per night for a firm number of rooms","es":""},"category":"FIXED"},{"id":"I2","text":{"fr":"","en":"Tourist tax invoiced on behalf of the municipality","es":""},"category":"EXCLUDED"},{"id":"I3","text":{"fr":"","en":"Retrospective rebate if the tour operator exceeds 5,000 nights","es":""},"category":"VARIABLE"},{"id":"I4","text":{"fr":"","en":"Penalty payable by the hotel in the event of overbooking","es":""},"category":"VARIABLE"},{"id":"I5","text":{"fr":"","en":"Credit note the group customarily grants after a complaint, not provided in the contract","es":""},"category":"VARIABLE"},{"id":"I6","text":{"fr":"","en":"VAT invoiced on the nights","es":""},"category":"EXCLUDED"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000033","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"COSMETICS","tested_point":"METHOD_CHOICE_PORTFOLIO","difficulty":"INTERMEDIATE","estimated_time_s":75,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"estimation-methods"},"references":["IFRS 15 §51","IFRS 15 §53"],"exercise":{"prompt":{"fr":"","en":"A cosmetics brand sells online to thousands of customers, who may return the products within 30 days. It has a long history of return rates (case data). Which method better predicts the consideration it will be entitled to?","es":""},"explanation":{"fr":"","en":"A right of return makes consideration variable (IFRS 15, para. 51). With a large number of similar contracts and a reliable history, the expected value better predicts the amount (IFRS 15, para. 53). The additional rules on returns are covered in lesson 000015.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The expected value","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The most likely amount for each sale","es":""},"correct":false,"feedback":{"fr":"","en":"For each sale, the most likely outcome is 'no return': all returns would be ignored, although a share of sales always comes back.","es":""}},{"id":"C","text":{"fr":"","en":"No estimate: wait until the return period ends","es":""},"correct":false,"feedback":{"fr":"","en":"Variable consideration must be estimated from the sale; waiting is not a permitted method.","es":""}},{"id":"D","text":{"fr":"","en":"Ignore returns, which are rarely exercised","es":""},"correct":false,"feedback":{"fr":"","en":"A right of return makes consideration variable, even if few customers exercise it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000034","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"ANALYSIS","format":"MULTIPLE_CHOICE","context":"AGRICULTURE","tested_point":"CONSTRAINT_FACTORS","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"constraint"},"references":["IFRS 15 §56","IFRS 15 §57"],"exercise":{"prompt":{"fr":"","en":"A seed supplier will earn a bonus linked to the crop yields of its farmer customers. Among the following facts (case data), which increase the risk of a significant reversal of revenue and weigh in applying the constraint?","es":""},"explanation":{"fr":"","en":"The entity assesses the likelihood and magnitude of a reversal; factors that increase this risk include high susceptibility to external factors such as weather, uncertainty resolved only after a long period, limited experience and a broad range of possible amounts (IFRS 15, paras. 56 and 57).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yield depends heavily on the weather","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yield will only be known after the harvest, in eighteen months","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"This is the first time the supplier has offered this type of bonus","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The bonus may range from 0 to 300,000 depending on the plots","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The customers have excellent creditworthiness","es":""},"correct":false,"feedback":{"fr":"","en":"The customers' creditworthiness says nothing about the risk that the bonus ends up lower than expected; it is not a factor of the constraint.","es":""}},{"id":"F","text":{"fr":"","en":"The contract is written and signed by both parties","es":""},"correct":false,"feedback":{"fr":"","en":"The form of the contract neither reduces nor increases the uncertainty about the bonus amount.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000035","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"SOFTWARE","tested_point":"TRANSACTION_PRICE_WORKING_ERRORS","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"pitfalls"},"references":["IFRS 15 §47","IFRS 15 §49","IFRS 15 §53","IFRS 15 §56","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A software publisher signs a one-year integration and support contract for 300,000 excluding tax (360,000 including tax), with a 25,000 bonus if the project goes live before June (two possible outcomes). An employee drafts the note below. Spot the incorrect statements.","es":""},"explanation":{"fr":"","en":"The transaction price excludes VAT (IFRS 15, para. 47) and ignores renewals (IFRS 15, para. 49). The binary bonus calls for the most likely amount (IFRS 15, para. 53), then the constraint applied to that variable part alone (IFRS 15, para. 56), all reassessed at each reporting date (IFRS 15, para. 59).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The fixed price to use is 360,000, the total amount invoiced to the customer.","es":""},"erroneous":true,"correction":{"fr":"","en":"VAT is collected for the State: the fixed price is 300,000 (IFRS 15, para. 47).","es":""}},{"id":"S2","text":{"fr":"","en":"The customer almost always renews its contracts: the second year, 300,000, is added.","es":""},"erroneous":true,"correction":{"fr":"","en":"The contract is assumed not to be renewed or modified; only the current year counts (IFRS 15, para. 49).","es":""}},{"id":"S3","text":{"fr":"","en":"The bonus has only two outcomes: it is estimated using the most likely amount.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"The constraint is applied to the total of 325,000 to check that it will not be reversed.","es":""},"erroneous":true,"correction":{"fr":"","en":"The constraint applies to the estimated variable consideration, here the 25,000 bonus (IFRS 15, para. 56).","es":""}},{"id":"S5","text":{"fr":"","en":"The bonus estimate will be updated at each reporting date.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000036","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"DISTRIBUTION","tested_point":"REFUND_LIABILITY_AND_CONSISTENCY_ERRORS","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"refund-liability"},"references":["IFRS 15 §52","IFRS 15 §54","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Here are the accounting principles proposed by the management controller of an office equipment wholesaler. Spot the incorrect statements.","es":""},"explanation":{"fr":"","en":"Refund liability remeasured at each reporting date (IFRS 15, para. 55), consistent method (IFRS 15, para. 54), concession intended from inception = variable consideration (IFRS 15, para. 52), price updated at each reporting date (IFRS 15, para. 59).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The refund liability is measured once, at the sale, then left unchanged until the rebate is settled.","es":""},"erroneous":true,"correction":{"fr":"","en":"The refund liability is remeasured at each reporting date (IFRS 15, para. 55).","es":""}},{"id":"S2","text":{"fr":"","en":"Amounts invoiced that are expected to be paid back are excluded from the transaction price.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"In the second quarter, the expected value is replaced by the most likely amount for the same rebate, because it gives higher revenue.","es":""},"erroneous":true,"correction":{"fr":"","en":"The method is applied consistently throughout the contract for the same uncertainty (IFRS 15, para. 54).","es":""}},{"id":"S4","text":{"fr":"","en":"If the entity intends to grant a reduction from signature, consideration is variable even if the contract shows a firm price.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"Once included in the price, an estimate can no longer be revised downwards.","es":""},"erroneous":true,"correction":{"fr":"","en":"The estimated transaction price is updated at each reporting date, upwards or downwards (IFRS 15, para. 59).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000037","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"ENERGY","tested_point":"CONSTRAINT_WEATHER_BONUS","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"judgment"},"references":["IFRS 15 §46","IFRS 15 §53","IFRS 15 §56","IFRS 15 §57","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Analyse Héliance's maintenance contract for year N.","es":""},"explanation":{"fr":"","en":"The case links the two stages of variable consideration: estimate (most likely amount, IFRS 15, para. 53), then constrain in the light of the risk factors (IFRS 15, paras. 56 and 57), before reassessing at each reporting date until the uncertainty is resolved (IFRS 15, para. 59).","es":""},"common_error":{"fr":"","en":"Including the bonus from signature because it is 'probable', without analysing the reversal risk factors.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Héliance operates and maintains a solar farm for an electricity producer. One-year contract (year N): fixed fee of 240,000, earned as the service is provided; single bonus of 30,000 if the farm's annual output exceeds a guaranteed level, otherwise nothing. This is Héliance's first year on this site and in this region; output depends heavily on sunshine. Héliance prepares accounts at 30 June and 31 December (case data).","es":""},"exhibits":[{"title":{"fr":"","en":"Output tracking (case data)","es":""},"body":{"fr":"","en":"Signature: no historical data on the site. 30 June N: cumulative output on track, but the second half-year remains uncertain. 31 December N: annual output measured, above the guaranteed level; the 30,000 bonus is definitively earned.","es":""}}],"parts":[{"prompt":{"fr":"","en":"Which method should be used to estimate the bonus?","es":""},"explanation":{"fr":"","en":"Two possible outcomes: the most likely amount better predicts the amount Héliance will be entitled to (IFRS 15, para. 53).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The most likely amount","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The expected value","es":""},"correct":false,"feedback":{"fr":"","en":"With two outcomes (0 or 30,000) on a single contract, a weighted average would give an impossible amount.","es":""}}],"id":"P1","dimension":"APPLICATION"},{"prompt":{"fr":"","en":"At signature, which conclusion is the most defensible for the bonus?","es":""},"explanation":{"fr":"","en":"Sensitivity to sunshine, no experience on the site and uncertainty resolved only at year-end increase the risk of reversal (IFRS 15, para. 57). It is not highly probable that the bonus will not be reversed: it is excluded from the price (IFRS 15, para. 56) and therefore from revenue (IFRS 15, para. 46). This is a judgement to be documented.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Include 30,000, since it is the most likely amount","es":""},"correct":false,"feedback":{"fr":"","en":"The most likely amount is an estimate; it must still pass the constraint.","es":""}},{"id":"B","text":{"fr":"","en":"Include nothing for now and reconsider at each reporting date","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Include 15,000, half the bonus, as a prudent measure","es":""},"correct":false,"feedback":{"fr":"","en":"An arbitrary amount matches neither an estimation method nor a part the entity would be confident about.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"At 30 June N, Héliance must reassess the constraint in the light of the output already achieved.","es":""},"explanation":{"fr":"","en":"True. At each reporting date, the entity updates the estimated price, including its assessment of the constraint (IFRS 15, para. 59).","es":""},"common_error":{"fr":"","en":"Freezing the constraint assessment made at inception: it is updated at each reporting date.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"Calculate revenue for year N.","es":""},"explanation":{"fr":"","en":"At 31 December N, the uncertainty is resolved: the bonus is earned and enters the price (IFRS 15, para. 59). Revenue N = 240,000 + 30,000 = 270,000.","es":""},"common_error":{"fr":"","en":"Still excluding the bonus once the uncertainty is resolved: once earned, it enters the price and N revenue.","es":""},"format":"CALCULATION","data":[],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue for year N","es":""},"answer":270000,"tolerance":0,"unit":"EUR"}],"id":"P4","dimension":"CALCULATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000038","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"RETAIL","tested_point":"IMPLICIT_PRICE_CONCESSION","difficulty":"ADVANCED","estimated_time_s":360,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §52","IFRS 15 §53","IFRS 15 §56","IFRS 15 §57"],"exercise":{"prompt":{"fr":"","en":"Analyse the sale of Modéane's winter collection.","es":""},"explanation":{"fr":"","en":"A concession expected because of customary practices makes consideration variable (IFRS 15, para. 52); it is estimated using the suitable method (IFRS 15, para. 53), then subjected to the constraint in the light of the risk factors (IFRS 15, paras. 56 and 57).","es":""},"common_error":{"fr":"","en":"Recognising 100,000 of revenue and then the support as a selling expense when it is granted.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Modéane, a ready-to-wear brand, sells its winter collection to a department store for a price of 100,000, with no discount clause at all. For years, Modéane has granted its distributors 'markdown support' at the end of the season when consumer sales are disappointing; its distributors know this (case data).","es":""},"exhibits":[{"title":{"fr":"","en":"History of support granted (case data, many comparable distributors)","es":""},"body":{"fr":"","en":"No support: 40% of seasons. Support of 10% of the price: 40%. Support of 20% of the price: 20%.","es":""}}],"parts":[{"prompt":{"fr":"","en":"As the contract shows a firm price of 100,000 with no discount clause, the consideration is fixed.","es":""},"explanation":{"fr":"","en":"False. Modéane's customary practices create a reasonable expectation of a price concession for the distributor: consideration is variable even without a clause (IFRS 15, para. 52).","es":""},"common_error":{"fr":"","en":"Concluding consideration is fixed for lack of a clause: a customary concession makes it variable.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Estimate the variable consideration using the expected value (before the constraint).","es":""},"explanation":{"fr":"","en":"Many comparable distributors: expected value (IFRS 15, para. 53). Support = 0 × 40% + 10,000 × 40% + 20,000 × 20% = 4,000 + 4,000 = 8,000. Estimated consideration = 100,000 − 8,000 = 92,000.","es":""},"common_error":{"fr":"","en":"Using the most likely amount with many comparable distributors, or forgetting to deduct the support from the fixed price.","es":""},"format":"CALCULATION","data":[],"steps":[{"id":"S1","label":{"fr":"","en":"Expected support","es":""},"answer":8000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Estimated consideration before the constraint","es":""},"answer":92000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Estimated consideration before the constraint","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"sells its winter collection to a department store for a price of 100,000","es":""},"value":100000},{"symbol":"b","meaning":{"fr":"","en":"Expected support","es":""},"value":8000,"unit":"EUR"}],"result":92000,"unit":"EUR"}],"rationale":{"fr":"","en":"Many comparable distributors: expected value (IFRS 15, para. 53).","es":""},"references":["REF.IFRS15.53"]}},{"prompt":{"fr":"","en":"Which facts in the case increase the reversal risk to be examined under the constraint?","es":""},"explanation":{"fr":"","en":"A practice of price concessions, sensitivity to market factors and a broad range of possible amounts increase the risk of reversal (IFRS 15, para. 57). Modéane includes in the price only the part that is highly probable not to be significantly reversed (IFRS 15, para. 56).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Modéane has a practice of granting price concessions","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The amount of support depends on consumer demand and fashion","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The possible amounts range from 0 to 20,000","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The department store always pays its invoices on time","es":""},"correct":false,"feedback":{"fr":"","en":"Payment punctuality says nothing about the amount of the future concession.","es":""}}],"id":"P3","dimension":"ANALYSIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000039","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"SOFTWARE","tested_point":"NO_RENEWAL_ASSUMPTION","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §49"],"exercise":{"prompt":{"fr":"","en":"A SaaS publisher sells a one-year subscription for 24,000. 90% of its customers renew (case data). It may include an expected renewal in the contract's transaction price.","es":""},"explanation":{"fr":"","en":"False. To determine the transaction price, the entity assumes that the existing contract will not be cancelled, renewed or modified (IFRS 15, para. 49). The price is 24,000; any renewal will be accounted for only once it is actually agreed.","es":""},"common_error":{"fr":"","en":"Confusing the commercial value of a loyal customer with the amount the entity is entitled to under the current contract.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000040","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"AUTOMOTIVE","tested_point":"DEFERRED_PAYMENT_DISCOUNTING","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"numeric-example"},"references":["IFRS 15 §60","IFRS 15 §61","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"A truck body builder delivers a refrigerated vehicle and transfers control of it on 1 January N. The customer will pay 88,200 in a single payment on 31 December N+1. The builder concludes that there is a significant financing component; the rate of a separate financing transaction with this customer is 5% (case data). Calculate.","es":""},"explanation":{"fr":"","en":"Revenue is recognised at the cash selling price (IFRS 15, paras. 60 and 61), obtained by discounting the payment at the rate of a separate financing transaction (IFRS 15, para. 64): 88,200 / 1.05² = 88,200 / 1.1025 = 80,000. Interest N = 80,000 × 5% = 4,000; receivable at 31 December N = 84,000; interest N+1 = 84,000 × 5% = 4,200. Check: 80,000 + 4,000 + 4,200 = 88,200. The 8,200 of interest is presented separately from revenue (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Recognising 88,200 of revenue on delivery, or computing simple interest of 4,000 each year instead of computing it on the receivable increased by the interest for N.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Single payment on 31 December N+1","es":""},"value":"88200","unit":"EUR"},{"label":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":"5","unit":"PERCENT"},{"label":{"fr":"","en":"Time between transfer and payment","es":""},"value":"2","unit":"YEARS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue on 1 January N","es":""},"answer":80000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Interest income for N","es":""},"answer":4000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Interest income for N+1","es":""},"answer":4200,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Revenue on 1 January N","es":""},"expression":"a / (1 + b)^2","variables":[{"symbol":"a","meaning":{"fr":"","en":"Single payment on 31 December N+1","es":""},"value":88200,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":5,"unit":"PERCENT"}],"result":80000,"unit":"EUR","rationale":{"fr":"","en":"Revenue is recognised at the cash selling price (IFRS 15, paras. 60 and 61), obtained by discounting the payment at the rate of a separate financing transaction (IFRS 15, para. 64): 88,200 / 1.05² = 88,200 / 1.1025 = 80,000.","es":""}},{"step":"S2","meaning":{"fr":"","en":"Interest income for N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revenue on 1 January N","es":""},"value":80000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":5,"unit":"PERCENT"}],"result":4000,"unit":"EUR"}],"references":["REF.IFRS15.60","REF.IFRS15.61","REF.IFRS15.64","REF.IFRS15.65"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000041","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"REAL_ESTATE","tested_point":"ADVANCE_PAYMENT_INTEREST_EXPENSE","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"numeric-example"},"references":["IFRS 15 §60","IFRS 15 §61","IFRS 15 §62","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"A manufacturer of prefabricated office modules receives 250,000 from a property developer on 1 January N for modules that it will deliver on 31 December N+1. The manufacturer required this payment two years in advance to finance production; the developer does not choose the delivery date. Control of the modules transfers on delivery (teaching assumption). The manufacturer concludes that there is a significant financing component; rate of a separate financing transaction: 4% (case data). Calculate.","es":""},"explanation":{"fr":"","en":"The developer does not choose when the transfer occurs: the exception for an advance payment at the customer's discretion does not apply (IFRS 15, para. 62). The payment schedule provides the entity with a financing benefit, so it adjusts the consideration for the time value of money (IFRS 15, paras. 60 and 61), at a rate reflecting its own credit risk because it is the party being financed (IFRS 15, para. 64). Interest N = 250,000 × 4% = 10,000; liability = 260,000; interest N+1 = 260,000 × 4% = 10,400; liability on delivery = 270,400, transferred to revenue. The 20,400 of interest is an expense presented separately (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Recognising only 250,000 of revenue on delivery, forgetting that the advance financed the entity for two years.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Advance received on 1 January N","es":""},"value":"250000","unit":"EUR"},{"label":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":"4","unit":"PERCENT"},{"label":{"fr":"","en":"Time between payment and transfer","es":""},"value":"2","unit":"YEARS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Interest expense for N","es":""},"answer":10000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Contract liability at 31 December N","es":""},"answer":260000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Interest expense for N+1","es":""},"answer":10400,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Revenue on delivery","es":""},"answer":270400,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Interest expense for N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Advance received on 1 January N","es":""},"value":250000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":4,"unit":"PERCENT"}],"result":10000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Interest expense for N+1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract liability at 31 December N","es":""},"value":260000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":4,"unit":"PERCENT"}],"result":10400,"unit":"EUR"}],"references":["REF.IFRS15.60","REF.IFRS15.61","REF.IFRS15.62","REF.IFRS15.64","REF.IFRS15.65"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000042","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"IMPLICIT_RATE_FROM_CASH_PRICE","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"discount-rate"},"references":["IFRS 15 §61","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"A transformer manufacturer offers a wind farm operator two options for the same transformer, delivered today: 500,000 paid in cash on delivery, or 595,508 paid in a single payment three years after delivery. The customer chooses deferred payment. The manufacturer uses as the rate of a separate financing transaction the rate that discounts the promised consideration to the cash price (case data). Calculate.","es":""},"explanation":{"fr":"","en":"The rate can be determined by discounting the promised consideration to the cash price (IFRS 15, para. 64): 595,508 / 500,000 = 1.191016 = 1.06³, i.e. 6%. Revenue is the cash price, 500,000 (IFRS 15, para. 61). Interest: year 1 = 500,000 × 6% = 30,000; year 2 = 530,000 × 6% = 31,800; year 3 = 561,800 × 6% = 33,708. Check: 30,000 + 31,800 + 33,708 = 95,508 = 595,508 − 500,000. This interest is presented separately (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Dividing the total difference by three (95,508 / 3 = 31,836 a year): interest is computed on a balance that increases each year.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cash price on delivery","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Deferred payment (in three years)","es":""},"value":"595508","unit":"EUR"},{"label":{"fr":"","en":"Time between transfer and payment","es":""},"value":"3","unit":"YEARS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Implicit annual rate","es":""},"answer":6,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Interest income for the first year","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Interest income for the second year","es":""},"answer":31800,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Interest income for the third year","es":""},"answer":33708,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Interest income for the first year","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash price on delivery","es":""},"value":500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Implicit annual rate","es":""},"value":6,"unit":"PERCENT"}],"result":30000,"unit":"EUR"}],"references":["REF.IFRS15.61","REF.IFRS15.64","REF.IFRS15.65"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000043","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"INDUSTRIAL","tested_point":"INTEREST_INCOME_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"entry"},"references":["IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"A packaging machine was delivered on 1 January N for a single payment of 224,720 on 31 December N+1. Revenue was recognised at 200,000 (cash price) and the receivable increased to 212,000 at 31 December N, at a rate of 6% (case data). Record the entry for the interest of N+1, before collection.","es":""},"explanation":{"fr":"","en":"Interest for N+1 = 212,000 × 6% = 12,720, at the rate set at inception (IFRS 15, para. 64). It increases the receivable to 224,720, the amount collected on 31 December N+1, and is presented as interest income, separately from revenue (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Crediting revenue, or computing interest on 200,000 (12,000) instead of on the receivable of 212,000.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"TRADE_RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"INTEREST_INCOME","text":{"fr":"","en":"Interest income","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}}],"lines":[{"id":"L1","account":"TRADE_RECEIVABLE","side":"DEBIT","amount":12720},{"id":"L2","account":"INTEREST_INCOME","side":"CREDIT","amount":12720}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000044","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"TELECOM","tested_point":"ADVANCE_PAYMENT_DELIVERY_ENTRY","difficulty":"ADVANCED","estimated_time_s":210,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"entry"},"references":["IFRS 15 §60","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"A telecom equipment maker received 150,000 from an operator on 1 January N for antennas delivered on 31 December N+1; the equipment maker required the advance to finance their manufacture. Significant financing component, rate of 5% (case data). At 31 December N, the contract liability amounts to 157,500 after the interest for N. Record the single entry on 31 December N+1: interest for N+1 and recognition of revenue on delivery.","es":""},"explanation":{"fr":"","en":"The entity is the party being financed: the interest is an expense (IFRS 15, paras. 60 and 64). Interest for N+1 = 157,500 × 5% = 7,875, which brings the contract liability to 165,375. On delivery, this liability is settled to revenue: 157,500 (opening balance) + 7,875 = 165,375. Check: debits 7,875 + 157,500 = credit 165,375. Interest expense is presented separately from revenue (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Recognising 150,000 of revenue (the amount received), or recording the advance as a financial borrowing separate from the contract.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"INTEREST_EXPENSE","text":{"fr":"","en":"Interest expense","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"INTEREST_INCOME","text":{"fr":"","en":"Interest income","es":""}},{"id":"FINANCIAL_LIABILITY","text":{"fr":"","en":"Financial liability (borrowing)","es":""}}],"lines":[{"id":"L1","account":"INTEREST_EXPENSE","side":"DEBIT","amount":7875},{"id":"L2","account":"CONTRACT_LIABILITY","side":"DEBIT","amount":157500},{"id":"L3","account":"REVENUE","side":"CREDIT","amount":165375}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000045","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"FINANCING_COMPONENT_SCREENING","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"how"},"references":["IFRS 15 §60","IFRS 15 §61","IFRS 15 §62","IFRS 15 §63"],"exercise":{"prompt":{"fr":"","en":"Classify each contract (case data; the entity applies the one-year practical expedient whenever it can; where a financing benefit exists outside the paragraph 62 situations, its effect is considered significant).","es":""},"explanation":{"fr":"","en":"There is no significant component if the customer paid in advance and chooses when the transfer occurs (I1), if the consideration depends on a future event outside the parties' control, such as a sales-based royalty (I2), or if the difference arises for a reason other than financing, and is proportionate to it, such as a retention (I6) (IFRS 15, para. 62). A deferred payment of 30 months at a price above the cash price (I3) or an advance required by the supplier two years before delivery (I4) provide one party with a financing benefit (IFRS 15, paras. 60 and 61). A nine-month period allows the entity not to adjust (IFRS 15, para. 63).","es":""},"common_error":{"fr":"","en":"Seeing a significant financing component in any timing gap: the para. 62 situations and gaps of one year or less exclude it.","es":""},"format":"CLASSIFICATION","categories":[{"id":"SFC","text":{"fr":"","en":"Significant financing component to account for","es":""}},{"id":"NO_SFC","text":{"fr":"","en":"No significant financing component (paragraph 62 situation)","es":""}},{"id":"EXPEDIENT","text":{"fr":"","en":"No adjustment: expected period of one year or less","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"A customer prepays 200 hours of technical assistance that it will use whenever it wishes, over three years","es":""},"category":"NO_SFC"},{"id":"I2","text":{"fr":"","en":"A studio grants a licence in exchange for 3% of the customer’s future sales, paid as those sales occur","es":""},"category":"NO_SFC"},{"id":"I3","text":{"fr":"","en":"A machine delivered today is paid in a single payment in 30 months, for an amount well above the cash price","es":""},"category":"SFC"},{"id":"I4","text":{"fr":"","en":"A supplier requires full payment two years before delivery, the date of which it sets itself, to finance its component purchases","es":""},"category":"SFC"},{"id":"I5","text":{"fr":"","en":"A delivery in March is paid in December of the same year","es":""},"category":"EXPEDIENT"},{"id":"I6","text":{"fr":"","en":"5% of the price of a structure is withheld until the end of a two-year warranty period, as is customary in the sector, to protect the customer","es":""},"category":"NO_SFC"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000046","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"SOFTWARE","tested_point":"ONE_YEAR_EXPEDIENT_TIMING","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"one-year-expedient"},"references":["IFRS 15 §63"],"exercise":{"prompt":{"fr":"","en":"A systems integrator enters into four contracts (case data). For which one can it apply the practical expedient and not adjust the consideration for the effect of financing?","es":""},"explanation":{"fr":"","en":"The practical expedient concerns the period expected, at contract inception, between the transfer of the good or service and its payment (IFRS 15, para. 63). In A, that period is two months, even though the contract lasts more than a year. Options B, C and D involve an expected period of more than one year.","es":""},"common_error":{"fr":"","en":"Measuring the period from contract signature rather than from the transfer of the good.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Contract signed in January N, system delivered in April N+1, paid two months after delivery","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"System delivered in January N, paid in three equal annual instalments starting January N+1","es":""},"correct":false,"feedback":{"fr":"","en":"The second and third instalments are paid two and three years after the transfer: the expected period exceeds one year.","es":""}},{"id":"C","text":{"fr":"","en":"Full payment on signing, delivery set by the supplier 20 months later","es":""},"correct":false,"feedback":{"fr":"","en":"The period between payment and transfer is 20 months: the expedient does not apply.","es":""}},{"id":"D","text":{"fr":"","en":"System delivered in May N, paid in a single payment in November N+1, as provided in the contract","es":""},"correct":false,"feedback":{"fr":"","en":"From inception, the entity expects a period of 18 months between delivery and payment: the expedient does not apply.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000047","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"HOSPITALITY","tested_point":"RATE_REFLECTS_FINANCED_PARTY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"discount-rate"},"references":["IFRS 15 §64"],"exercise":{"prompt":{"fr":"","en":"A hotel chain pays a furniture manufacturer two years before delivery, at the manufacturer's request, and the contract contains a significant financing component (case data). The discount rate to be used must reflect the credit risk of the hotel chain.","es":""},"explanation":{"fr":"","en":"False. The rate is that of a separate financing transaction between the entity and its customer and reflects the credit risk of the party being financed (IFRS 15, para. 64). Here, the manufacturer receives the money in advance: its own credit risk is what matters.","es":""},"common_error":{"fr":"","en":"Always using the customer's credit risk, whatever the direction of the financing.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000048","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"INTEREST_PRESENTED_SEPARATELY","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"pitfalls"},"references":["IFRS 15 §60","IFRS 15 §61","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"A fitted kitchen retailer sells a hotel a professional kitchen delivered on 1 January N, payable 108,160 on 31 December N+1, whereas its cash price is 100,000; significant financing component, rate of 4% (case data). The accountant drafts the following note. Identify the erroneous statements.","es":""},"explanation":{"fr":"","en":"Revenue = cash price 100,000 (IFRS 15, paras. 60 and 61); interest of 4,000 (N) then 4,160 (N+1) at the initial rate (IFRS 15, para. 64), recognised on the receivable and presented separately from revenue (IFRS 15, para. 65). Check: 100,000 + 4,000 + 4,160 = 108,160.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Revenue recognised on delivery is 100,000.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"The 4,000 of interest for N is added to revenue for the year, since it arises from the same contract.","es":""},"erroneous":true,"correction":{"fr":"","en":"The effects of financing are presented separately from revenue from contracts with customers (IFRS 15, para. 65).","es":""}},{"id":"S3","text":{"fr":"","en":"As market rates rose in N+1, the interest for N+1 will be calculated at 6%.","es":""},"erroneous":true,"correction":{"fr":"","en":"The rate set at contract inception is not revised for changes in interest rates or credit risk: 4% still applies, i.e. 104,000 × 4% = 4,160 (IFRS 15, para. 64).","es":""}},{"id":"S4","text":{"fr":"","en":"The interest is recognised as an increase in the trade receivable.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"The 8,160 difference between the price paid and the cash price does not matter, since the customer will pay the full amount.","es":""},"erroneous":true,"correction":{"fr":"","en":"The difference between the promised consideration and the cash price is precisely an indicator of financing to be assessed, together with the time period and market rates (IFRS 15, paras. 60 and 61); here, it remunerates two years of credit.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000049","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"HEALTHCARE","tested_point":"FINANCING_COMPONENT_END_TO_END","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IFRS15.000005","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"judgment"},"references":["IFRS 15 §60","IFRS 15 §61","IFRS 15 §62","IFRS 15 §63","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"Analyse Thermelis's two contracts.","es":""},"explanation":{"fr":"","en":"Two identical installations produce the same revenue, 300,000, whatever the payment schedule: the two-year credit granted to the hospital generates 37,080 of interest presented separately (IFRS 15, paras. 60, 61 and 65), at the rate set at inception (IFRS 15, para. 64); the clinic's 60-day period falls under the practical expedient (IFRS 15, para. 63).","es":""},"common_error":{"fr":"","en":"Recognising 337,080 of revenue for the hospital, which would make the same sale look more profitable than the clinic sale.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Thermelis manufactures industrial heat pumps. On 1 January N, it delivers an installation to a hospital, which obtains control of it the same day. Its cash price, commonly charged, is 300,000. The hospital chose to pay 337,080 in a single payment on 31 December N+1. On the same day, Thermelis delivers a second, identical installation to a private clinic, at a price of 300,000 payable within 60 days (case data).","es":""},"exhibits":[{"title":{"fr":"","en":"Treasury memo (case data)","es":""},"body":{"fr":"","en":"Rate the hospital would obtain for a separate two-year financing from Thermelis: 6%. In N+1, market rates rise and the same financing would be offered at 8%.","es":""}}],"parts":[{"prompt":{"fr":"","en":"Does the hospital contract contain a significant financing component?","es":""},"explanation":{"fr":"","en":"The difference between the promised consideration and the cash price, combined with the two-year period and market rates, reveals a significant financing benefit for the customer (IFRS 15, paras. 60 and 61). None of the paragraph 62 situations applies (IFRS 15, para. 62).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes: a two-year period and a 37,080 difference from the cash price","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No: the customer chose the payment schedule","es":""},"correct":false,"feedback":{"fr":"","en":"The exception covers a customer that paid in advance and chooses when the transfer occurs, not a customer that chooses to pay later.","es":""}},{"id":"C","text":{"fr":"","en":"No: a hospital has no credit risk","es":""},"correct":false,"feedback":{"fr":"","en":"Credit risk is used to set the rate; whether there is financing depends on the difference from the cash price, the time period and market rates.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the amounts for the hospital contract.","es":""},"explanation":{"fr":"","en":"At 6%: 337,080 / 1.06² = 337,080 / 1.1236 = 300,000, equal to the cash price (IFRS 15, paras. 61 and 64). Interest N = 300,000 × 6% = 18,000; N+1 = 318,000 × 6% = 19,080. Check: 300,000 + 18,000 + 19,080 = 337,080.","es":""},"common_error":{"fr":"","en":"Recognising 337,080 as revenue on delivery, or computing N+1 interest on the initial amount only.","es":""},"format":"CALCULATION","data":[],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue on 1 January N","es":""},"answer":300000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Interest income for N","es":""},"answer":18000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Interest income for N+1","es":""},"answer":19080,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Interest income for N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revenue on 1 January N","es":""},"value":300000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate the hospital would obtain for a separate two-year financing from Thermelis: 6%","es":""},"value":6,"unit":"PERCENT"}],"result":18000,"unit":"EUR"}],"rationale":{"fr":"","en":"At 6%: 337,080 / 1.06² = 337,080 / 1.1236 = 300,000, equal to the cash price (IFRS 15, paras. 61 and 64).","es":""},"references":["REF.IFRS15.61","REF.IFRS15.64"]}},{"prompt":{"fr":"","en":"In view of the rise in rates in N+1, the interest for N+1 must be calculated at 8%.","es":""},"explanation":{"fr":"","en":"False. The rate determined at contract inception is not subsequently revised for changes in interest rates or credit risk (IFRS 15, para. 64).","es":""},"common_error":{"fr":"","en":"Updating the rate after market rates rise: the rate set at inception is not revised.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"How does Thermelis account for the clinic contract?","es":""},"explanation":{"fr":"","en":"Expected period of 60 days: the entity may choose not to adjust the consideration for the effect of financing (IFRS 15, para. 63). The interest on the hospital contract, for its part, is presented separately from revenue (IFRS 15, para. 65).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It may recognise 300,000 of revenue without adjusting for financing","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It must discount the 300,000 over 60 days","es":""},"correct":false,"feedback":{"fr":"","en":"The expected period between transfer and payment does not exceed one year: the practical expedient allows the entity not to adjust.","es":""}},{"id":"C","text":{"fr":"","en":"It must apply the same 6% rate as for the hospital","es":""},"correct":false,"feedback":{"fr":"","en":"The rate is specific to each customer and each financing; here, no adjustment is necessary.","es":""}}],"id":"P4","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000050","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","format":"CALCULATION","context":"MEDIA","tested_point":"NON_CASH_SHARES_MEASUREMENT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-variability"},"references":["IFRS 15 §66","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A production studio makes the launch film for a young video game company. Remuneration: 5,000 in cash and 3,000 shares of the customer, with a fair value of 20 per share; 1,000 additional shares if the film exceeds one million views in the month after its release. After analysis, the studio concludes that the constraint excludes, for the time being, all of these additional shares (case data). Calculate.","es":""},"explanation":{"fr":"","en":"Non-cash consideration is measured at fair value (IFRS 15, para. 66): 3,000 × 20 = 60,000. The number of additional shares varies with the audience, for a reason other than the form of the consideration: the constraint applies (IFRS 15, para. 68) and excludes them here (case data). Transaction price = 5,000 + 60,000 = 65,000, to be reassessed at each reporting date.","es":""},"common_error":{"fr":"","en":"Including the 1,000 contingent shares (85,000), or ignoring the shares because they are not cash (5,000).","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cash","es":""},"value":"5000","unit":"EUR"},{"label":{"fr":"","en":"Shares promised unconditionally","es":""},"value":"3000","unit":"UNITS"},{"label":{"fr":"","en":"Fair value per share","es":""},"value":"20","unit":"EUR"},{"label":{"fr":"","en":"Additional contingent shares","es":""},"value":"1000","unit":"UNITS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Fair value of the unconditionally promised shares","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Transaction price at this stage","es":""},"answer":65000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Fair value of the unconditionally promised shares","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Shares promised unconditionally","es":""},"value":3000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Fair value per share","es":""},"value":20,"unit":"EUR"}],"result":60000,"unit":"EUR","rationale":{"fr":"","en":"Non-cash consideration is measured at fair value (IFRS 15, para. 66): 3,000 × 20 = 60,000.","es":""}},{"step":"S2","meaning":{"fr":"","en":"Transaction price at this stage","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash","es":""},"value":5000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fair value of the unconditionally promised shares","es":""},"value":60000,"unit":"EUR"}],"result":65000,"unit":"EUR"}],"references":["REF.IFRS15.66","REF.IFRS15.68"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000051","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"LISTING_FEES_REDUCE_PRICE","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"numeric-example"},"references":["IFRS 15 §70","IFRS 15 §72"],"exercise":{"prompt":{"fr":"","en":"A craft brewery enters into an annual delivery contract of 800,000 with a supermarket chain (firm quantities). On signing, at the start of the year, it pays the chain 48,000 of listing fees, without receiving any distinct good or service. Deliveries in the second quarter amount to 240,000 at the contract price (case data). Teaching assumption: the reduction is spread in proportion to deliveries. Calculate.","es":""},"explanation":{"fr":"","en":"With no distinct good or service received in exchange, the listing fees reduce the transaction price (IFRS 15, para. 70): 800,000 − 48,000 = 752,000. As the payment precedes the deliveries, the later of the two dates is that of the related revenue: the reduction is recognised only as that revenue is recognised (IFRS 15, para. 72), here in proportion to deliveries (teaching assumption): 240,000 × 752,000 / 800,000 = 240,000 × 0.94 = 225,600, i.e. a reduction of 14,400 for the quarter.","es":""},"common_error":{"fr":"","en":"Recognising the 48,000 as selling expenses, or deducting the whole 48,000 from revenue in the quarter in which it is paid.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Annual deliveries at the contract price","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Listing fees paid","es":""},"value":"48000","unit":"EUR"},{"label":{"fr":"","en":"Second-quarter deliveries","es":""},"value":"240000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Annual transaction price","es":""},"answer":752000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Revenue for the second quarter","es":""},"answer":225600,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Annual transaction price","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Annual deliveries at the contract price","es":""},"value":800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Listing fees paid","es":""},"value":48000,"unit":"EUR"}],"result":752000,"unit":"EUR","rationale":{"fr":"","en":"With no distinct good or service received in exchange, the listing fees reduce the transaction price (IFRS 15, para. 70): 800,000 − 48,000 = 752,000.","es":""}},{"step":"S2","meaning":{"fr":"","en":"Revenue for the second quarter","es":""},"expression":"a * b / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Second-quarter deliveries","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Annual transaction price","es":""},"value":752000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Annual deliveries at the contract price","es":""},"value":800000,"unit":"EUR"}],"result":225600,"unit":"EUR","rationale":{"fr":"","en":"As the payment precedes the deliveries, the later of the two dates is that of the related revenue: the reduction is recognised only as that revenue is recognised (IFRS 15, para. 72), here in proportion to deliveries (teaching assumption): 240,000 × 752,000 / 800,000 = 240,000 × 0.94 = 225,600, i.e. a reduction of 14,400 for the quarter.","es":""}}],"references":["REF.IFRS15.70","REF.IFRS15.72"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000052","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"PAYMENT_ABOVE_FAIR_VALUE","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"distinct-good-from-customer"},"references":["IFRS 15 §70","IFRS 15 §71"],"exercise":{"prompt":{"fr":"","en":"A small tools manufacturer sells 400,000 of products a year to a network of DIY stores (firm quantities). It pays the network 25,000 for an in-store promotional event, a distinct service that it could buy from an agency; the fair value of this service is estimated at 18,000 (case data). Calculate.","es":""},"explanation":{"fr":"","en":"The distinct service is accounted for as an ordinary purchase at its fair value, 18,000; the excess, 25,000 − 18,000 = 7,000, reduces the transaction price: 400,000 − 7,000 = 393,000. If the fair value could not be reasonably estimated, the full 25,000 would reduce the price: 400,000 − 25,000 = 375,000 (IFRS 15, paras. 70 and 71).","es":""},"common_error":{"fr":"","en":"Expensing the full 25,000 because a distinct service exists, without isolating the excess over its fair value.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Annual sales at the contract price","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Amount paid for the promotional event","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Fair value of the promotional event","es":""},"value":"18000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Amount recognised as a purchase of services (expense)","es":""},"answer":18000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Excess that reduces the transaction price","es":""},"answer":7000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Annual transaction price","es":""},"answer":393000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Transaction price if the fair value could not be reasonably estimated","es":""},"answer":375000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Excess that reduces the transaction price","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount paid for the promotional event","es":""},"value":25000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fair value of the promotional event","es":""},"value":18000,"unit":"EUR"}],"result":7000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Annual transaction price","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Annual sales at the contract price","es":""},"value":400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Excess that reduces the transaction price","es":""},"value":7000,"unit":"EUR"}],"result":393000,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Transaction price if the fair value could not be reasonably estimated","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Annual sales at the contract price","es":""},"value":400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Amount paid for the promotional event","es":""},"value":25000,"unit":"EUR"}],"result":375000,"unit":"EUR","rationale":{"fr":"","en":"If the fair value could not be reasonably estimated, the full 25,000 would reduce the price: 400,000 − 25,000 = 375,000 (IFRS 15, paras. 70 and 71).","es":""}}],"references":["REF.IFRS15.70","REF.IFRS15.71"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000053","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"AUTOMOTIVE","tested_point":"NON_CASH_AND_PAYABLE_SORTING","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"how"},"references":["IFRS 15 §66","IFRS 15","IFRS 15 §70","IFRS 15 §71"],"exercise":{"prompt":{"fr":"","en":"An automotive supplier analyses its flows with a carmaker, its customer. Classify each item (case data).","es":""},"explanation":{"fr":"","en":"The aluminium offcuts that the supplier controls are non-cash consideration, measured at fair value (IFRS 15, paras. 66 and 69); the moulds it does not control are not consideration (IFRS 15, para. 69). A payment or credit with no distinct good or service reduces the price (IFRS 15, para. 70). Renting a distinct service at the market price is an ordinary purchase (IFRS 15, para. 71).","es":""},"common_error":{"fr":"","en":"Adding the loaned moulds to the price: the supplier does not obtain control of them, so they are not consideration.","es":""},"format":"CLASSIFICATION","categories":[{"id":"NON_CASH","text":{"fr":"","en":"Non-cash consideration received (added to the price)","es":""}},{"id":"REDUCTION","text":{"fr":"","en":"Reduction of the transaction price","es":""}},{"id":"PURCHASE","text":{"fr":"","en":"Purchase of a distinct good or service","es":""}},{"id":"NONE","text":{"fr":"","en":"No effect on the transaction price","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"The carmaker hands over aluminium offcuts as part payment, which the supplier can sell or use freely","es":""},"category":"NON_CASH"},{"id":"I2","text":{"fr":"","en":"The carmaker lends moulds that remain its property, usable only for its parts and returned at the end of the contract","es":""},"category":"NONE"},{"id":"I3","text":{"fr":"","en":"The supplier pays 30,000 as a 'development contribution' to the new model, without receiving anything in exchange","es":""},"category":"REDUCTION"},{"id":"I4","text":{"fr":"","en":"The supplier rents one of the carmaker's test benches at the market price to test other products","es":""},"category":"PURCHASE"},{"id":"I5","text":{"fr":"","en":"The supplier grants the carmaker a 2% credit that can be offset against its next invoices","es":""},"category":"REDUCTION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000054","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FOOD","tested_point":"REDUCTION_TIMING_CUSTOMARY_PRACTICE","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"timing-of-reduction"},"references":["IFRS 15 §70","IFRS 15 §72"],"exercise":{"prompt":{"fr":"","en":"For ten years, a fruit juice producer has paid its distributors each January a 'year-end contribution' equal to 2% of their purchases in the previous year, without any distinct service in exchange. The contract says nothing about it, but the distributors count on this payment (case data). When does the producer reduce its revenue for the sales of year N?","es":""},"explanation":{"fr":"","en":"The payment, with no distinct good or service, reduces the transaction price (IFRS 15, para. 70). The reduction is recognised at the later of two dates: the related revenue, or the payment / promise to pay, including an implicit promise arising from customary practices (IFRS 15, para. 72). The promise exists as soon as the sales occur: the later of the two dates is therefore the revenue date.","es":""},"common_error":{"fr":"","en":"Considering that, without a written clause, there is no promise before the payment.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Throughout N, as the revenue from the sales is recognised","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"In January N+1, when the payment is made","es":""},"correct":false,"feedback":{"fr":"","en":"The customary practice creates an implicit promise as soon as the sales occur: waiting for the payment delays the reduction.","es":""}},{"id":"C","text":{"fr":"","en":"Never: the contract provides for no contribution, so it is a selling expense","es":""},"correct":false,"feedback":{"fr":"","en":"With no distinct good or service, the payment reduces the price, even when it arises from a practice rather than a clause.","es":""}},{"id":"D","text":{"fr":"","en":"On 1 January N, for the estimated amount for the whole year","es":""},"correct":false,"feedback":{"fr":"","en":"No related revenue exists yet at that date: the reduction cannot precede the revenue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000055","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TELECOM","tested_point":"NON_CASH_AND_PAYABLE_ERRORS","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"pitfalls"},"references":["IFRS 15 §66","IFRS 15","IFRS 15 §70","IFRS 15 §71","IFRS 15 §72"],"exercise":{"prompt":{"fr":"","en":"An enterprise network operator prepares an accounting policy memo on its contracts. Identify the erroneous statements.","es":""},"explanation":{"fr":"","en":"Fair value first, stand-alone selling price failing that (IFRS 15, paras. 66 and 67); constraint for a variation that does not arise from the form (IFRS 15, para. 68); price reduction unless there is a distinct good or service, and any excess over fair value as a reduction (IFRS 15, paras. 70 and 71); reduction at the later of two dates (IFRS 15, para. 72).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"When a customer pays us in shares, the transaction price is the cost of the services we provide to it.","es":""},"erroneous":true,"correction":{"fr":"","en":"The shares are measured at fair value (IFRS 15, para. 66); only if that cannot be reasonably estimated is reference made to the stand-alone selling price of the services promised, not to their cost (IFRS 15, para. 67).","es":""}},{"id":"S2","text":{"fr":"","en":"If the number of shares to be received depends on network availability, that variable portion is subject to the constraint.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"'Migration bonuses' paid to customers leaving a competitor, with no service received in exchange, are selling expenses.","es":""},"erroneous":true,"correction":{"fr":"","en":"With no distinct good or service received, consideration payable to a customer reduces the transaction price (IFRS 15, para. 70).","es":""}},{"id":"S4","text":{"fr":"","en":"When we buy a distinct service from a customer above its fair value, the excess reduces the transaction price.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"A discount promised in March on services provided from April to December reduces revenue in March, for its full amount.","es":""},"erroneous":true,"correction":{"fr":"","en":"The reduction is recognised at the later of the two dates: here, as the revenue for the April-to-December services is recognised (IFRS 15, para. 72).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000056","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"CONSTRUCTION","tested_point":"CUSTOMER_SUPPLIED_MATERIALS_CONTROL","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"customer-contributions"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"To facilitate the renovation of its warehouse, a customer makes available to the building contractor an aerial work platform that remains its property, usable only on this site and taken back at the end of the works (case data). The contractor must add the fair value of this arrangement to its transaction price.","es":""},"explanation":{"fr":"","en":"False. When the customer contributes equipment to facilitate fulfilment of the contract, the entity assesses whether it obtains control of it; only if it does is the equipment treated as non-cash consideration (IFRS 15, para. 69). Here, the platform can only be used on the customer's site and goes back to the customer: the contractor does not obtain control of it (case analysis).","es":""},"common_error":{"fr":"","en":"Considering that everything the customer provides is consideration, without testing control.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000057","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION","IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT","IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"APPLICATION","format":"MINI_CASE","context":"GENERIC","tested_point":"TRANSACTION_PRICE_FOUR_FACTORS_SYNTHESIS","difficulty":"ADVANCED","estimated_time_s":360,"lesson_id":"LS.IFRS15.000006","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"how"},"references":["IFRS 15 §47","IFRS 15 §48","IFRS 15 §53","IFRS 15 §56","IFRS 15 §63","IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"Determine the transaction price of Burealine's contract.","es":""},"explanation":{"fr":"","en":"The transaction price is built by starting from the price excluding amounts collected for third parties, then reviewing the four factors: variable consideration, financing, non-cash consideration and consideration payable to the customer (IFRS 15, paras. 47 and 48). Here: 200,000 − 5,400 − 5,000 = 189,600, with no adjustment for financing (IFRS 15, para. 63).","es":""},"common_error":{"fr":"","en":"Starting from the 240,000 invoiced, or treating the moving contribution as a selling expense.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Burealine manufactures office furniture. It signs a contract with a services company to fit out its new head office: furniture delivered on 1 March N for 200,000 excluding tax (240,000 including 20% VAT), payable on 31 December N. The contract provides for a retrospective discount on the price of this furniture if the customer orders further furniture before the end of the year; Burealine manages many similar contracts. Finally, Burealine pays the customer 5,000 as a 'moving contribution', without receiving any good or service in exchange (case data).","es":""},"exhibits":[{"title":{"fr":"","en":"Discount statistics on similar contracts (case data)","es":""},"body":{"fr":"","en":"No discount: 50% of cases. Discount of 8,000: 30%. Discount of 15,000: 20%. After analysis, Burealine concludes that the constraint excludes no part of its estimate. It applies the one-year practical expedient whenever it can.","es":""}}],"parts":[{"prompt":{"fr":"","en":"Classify each item of the contract according to its effect on the transaction price.","es":""},"explanation":{"fr":"","en":"VAT is collected on behalf of the State (IFRS 15, para. 47). The conditional discount is variable consideration, and the payment with no distinct consideration in return reduces the price (IFRS 15, paras. 48 and 70). A ten-month period between transfer and payment allows the entity not to adjust for financing (IFRS 15, para. 63).","es":""},"common_error":{"fr":"","en":"Adjusting the price for a ten-month payment: the practical expedient allows no adjustment under one year.","es":""},"format":"CLASSIFICATION","categories":[{"id":"EXCLUDED","text":{"fr":"","en":"Excluded: amount collected for a third party","es":""}},{"id":"ESTIMATED","text":{"fr":"","en":"To be estimated: variable consideration","es":""}},{"id":"DEDUCTED","text":{"fr":"","en":"To be deducted: consideration payable to the customer","es":""}},{"id":"NO_ADJUSTMENT","text":{"fr":"","en":"No price adjustment","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"VAT of 40,000","es":""},"category":"EXCLUDED"},{"id":"I2","text":{"fr":"","en":"Possible discount in the event of a further order","es":""},"category":"ESTIMATED"},{"id":"I3","text":{"fr":"","en":"Moving contribution of 5,000","es":""},"category":"DEDUCTED"},{"id":"I4","text":{"fr":"","en":"Payment ten months after delivery","es":""},"category":"NO_ADJUSTMENT"}],"id":"P1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Calculate the transaction price.","es":""},"explanation":{"fr":"","en":"Many similar contracts: expected value (IFRS 15, para. 53) = 0 × 50% + 8,000 × 30% + 15,000 × 20% = 2,400 + 3,000 = 5,400, retained in full after the constraint (IFRS 15, para. 56; case data). Transaction price = 200,000 − 5,400 − 5,000 = 189,600 (IFRS 15, paras. 47, 48 and 70).","es":""},"common_error":{"fr":"","en":"Forgetting to deduct the relocation contribution, or using the maximum discount instead of the expected value.","es":""},"format":"CALCULATION","data":[],"steps":[{"id":"S1","label":{"fr":"","en":"Estimated discount (expected value)","es":""},"answer":5400,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Transaction price","es":""},"answer":189600,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"200,000 excluding tax","es":""},"value":200000},{"symbol":"b","meaning":{"fr":"","en":"Estimated discount (expected value)","es":""},"value":5400,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Finally, Burealine pays the customer 5,000","es":""},"value":5000}],"result":189600,"unit":"EUR"}],"references":["REF.IFRS15.47","REF.IFRS15.48","REF.IFRS15.53","REF.IFRS15.56","REF.IFRS15.70"]}},{"prompt":{"fr":"","en":"If payment had been scheduled two years after delivery, Burealine would have had to assess whether the contract contains a significant financing component.","es":""},"explanation":{"fr":"","en":"True. The practical expedient is available only if the expected period between transfer and payment does not exceed one year (IFRS 15, para. 63); beyond that, the financing component is one of the factors to be examined in setting the price (IFRS 15, para. 48).","es":""},"common_error":{"fr":"","en":"Applying the one-year expedient to a two-year gap: beyond one year, the financing component must be assessed.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000058","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","format":"CALCULATION","context":"SOFTWARE","tested_point":"RELATIVE_SSP_ALLOCATION","difficulty":"BEGINNER","estimated_time_s":180,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"relative-ssp"},"references":["IFRS 15 §74","IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Case data: a software publisher sells a software licence, its implementation and one year of support, three performance obligations, for 180,000. Stand-alone selling prices at contract inception (regular separate sales): licence 120,000, implementation 30,000, support 50,000. Allocate the transaction price.","es":""},"explanation":{"fr":"","en":"The price is allocated in proportion to the stand-alone selling prices determined at contract inception (IFRS 15, paras. 74 and 76). Weights: 120/200, 30/200 and 50/200, i.e. 60%, 15% and 25%. Licence 180,000 × 60% = 108,000; implementation 27,000; support 45,000; total 180,000. The 20,000 discount is thereby spread over the three obligations.","es":""},"common_error":{"fr":"","en":"Using the stand-alone selling prices as they are (120,000 / 30,000 / 50,000), whose total exceeds the price by 20,000.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the licence","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the implementation","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the support","es":""},"value":"50000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Sum of the stand-alone selling prices","es":""},"answer":200000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Discount granted to the customer","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Price allocated to the licence","es":""},"answer":108000,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Price allocated to the implementation","es":""},"answer":27000,"tolerance":0.01,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"Price allocated to the support","es":""},"answer":45000,"tolerance":0.01,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000059","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","format":"CALCULATION","context":"TELECOM","tested_point":"EXPECTED_COST_PLUS_MARGIN","difficulty":"INTERMEDIATE","estimated_time_s":240,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"estimation-methods"},"references":["IFRS 15 §76","IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"Case data: an operator sells a business router and a 3-year managed network service (two performance obligations) to an SME for 30,000. The router is regularly sold on its own at 6,000. The managed service is never sold on its own and has no market equivalent; the operator estimates its costs at 24,000 and applies a 20% margin on costs, its usual margin on comparable services. Calculate the allocation (rounded to the cent, the last share absorbing the difference).","es":""},"explanation":{"fr":"","en":"As the service has no observable price, its stand-alone selling price is estimated; expected cost plus a margin is a suitable method (IFRS 15, para. 79): 24,000 × 1.20 = 28,800. Proportionate allocation (IFRS 15, para. 76): router 30,000 × 6,000 / 34,800 = 5,172.41; service 30,000 − 5,172.41 = 24,827.59. The 20% margin is case data, which the entity would have to justify.","es":""},"common_error":{"fr":"","en":"Giving the router its observable price of 6,000 and the service the remainder (24,000): that is a residual approach, permitted only for a highly variable or uncertain price (IFRS 15, para. 79), which the case does not describe: the service price is estimated using expected cost plus a margin.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Observable price of the router","es":""},"value":"6000","unit":"EUR"},{"label":{"fr":"","en":"Expected costs of the managed service","es":""},"value":"24000","unit":"EUR"},{"label":{"fr":"","en":"Margin on costs (case data)","es":""},"value":"20","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Estimated stand-alone selling price of the managed service","es":""},"answer":28800,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Sum of the stand-alone selling prices","es":""},"answer":34800,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Price allocated to the router","es":""},"answer":5172.41,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Price allocated to the managed service","es":""},"answer":24827.59,"tolerance":0.01,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Estimated stand-alone selling price of the managed service","es":""},"expression":"a * (1 + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected costs of the managed service","es":""},"value":24000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Margin on costs (case data)","es":""},"value":20,"unit":"PERCENT"}],"result":28800,"unit":"EUR","rationale":{"fr":"","en":"expected cost plus a margin is a suitable method (IFRS 15, para. 79): 24,000 × 1.20 = 28,800.","es":""}},{"step":"S3","meaning":{"fr":"","en":"Price allocated to the router","es":""},"expression":"a * b / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price","es":""},"value":30000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Observable price of the router","es":""},"value":6000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Sum of the stand-alone selling prices","es":""},"value":34800,"unit":"EUR"}],"result":5172.41,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Price allocated to the managed service","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price","es":""},"value":30000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Price allocated to the router","es":""},"value":5172.41,"unit":"EUR"}],"result":24827.59,"unit":"EUR"}],"references":["REF.IFRS15.76","REF.IFRS15.79"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000060","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","format":"CALCULATION","context":"AUTOMOTIVE","tested_point":"ADJUSTED_MARKET_ASSESSMENT","difficulty":"INTERMEDIATE","estimated_time_s":240,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"estimation-methods"},"references":["IFRS 15 §76","IFRS 15 §78","IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"Case data: a manufacturer sells 10 light commercial vehicles and a 3-year connected fleet-management service to a delivery company for 319,000. The vehicles are regularly sold on their own at 32,000 each. The service is never sold on its own; a competitor offers a comparable package at 12,000 for 3 years, and the manufacturer applies a 25% reduction because its service has fewer features (documented adjustment, case data). Calculate the allocation.","es":""},"explanation":{"fr":"","en":"Adjusted market assessment (IFRS 15, para. 79): 12,000 × (1 − 25%) = 9,000, starting from observable data as para. 78 requires. Vehicles: 10 × 32,000 = 320,000. Proportionate allocation (IFRS 15, para. 76): vehicles 319,000 × 320,000 / 329,000 = 310,273.56; service 319,000 − 310,273.56 = 8,726.44.","es":""},"common_error":{"fr":"","en":"Using the competitor's price (12,000) without adjusting it to the entity's situation.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"319000","unit":"EUR"},{"label":{"fr":"","en":"Observable price per vehicle","es":""},"value":"32000","unit":"EUR"},{"label":{"fr":"","en":"Number of vehicles","es":""},"value":"10","unit":"UNITS"},{"label":{"fr":"","en":"Competitor's price for a comparable service","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Adjustment applied (reduction)","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Estimated stand-alone selling price of the service","es":""},"answer":9000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Sum of the stand-alone selling prices","es":""},"answer":329000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Price allocated to the vehicles","es":""},"answer":310273.56,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Price allocated to the service","es":""},"answer":8726.44,"tolerance":0.01,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Estimated stand-alone selling price of the service","es":""},"expression":"a * (1 - b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Competitor's price for a comparable service","es":""},"value":12000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Adjustment applied (reduction)","es":""},"value":25,"unit":"PERCENT"}],"result":9000,"unit":"EUR","rationale":{"fr":"","en":"Adjusted market assessment (IFRS 15, para. 79): 12,000 × (1 − 25%) = 9,000, starting from observable data as para. 78 requires.","es":""}},{"step":"S3","meaning":{"fr":"","en":"Price allocated to the vehicles","es":""},"expression":"a * (b * c) / d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price","es":""},"value":319000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Number of vehicles","es":""},"value":10,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Observable price per vehicle","es":""},"value":32000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Sum of the stand-alone selling prices","es":""},"value":329000,"unit":"EUR"}],"result":310273.56,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Price allocated to the service","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price","es":""},"value":319000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Price allocated to the vehicles","es":""},"value":310273.56,"unit":"EUR"}],"result":8726.44,"unit":"EUR"}],"references":["REF.IFRS15.76","REF.IFRS15.79"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000061","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","format":"CALCULATION","context":"MEDIA","tested_point":"RESIDUAL_APPROACH","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"estimation-methods"},"references":["IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"Case data: a media group sells an advertiser, for 90,000, a campaign in its print titles (regularly sold on its own at 40,000, stable price), radio spots (regularly sold on their own at 25,000, stable price) and the sponsorship of a new podcast launched this year, never sold separately and not yet priced. Determine the stand-alone selling price of the sponsorship.","es":""},"explanation":{"fr":"","en":"The sponsorship has never been sold on its own and is not yet priced: its stand-alone selling price is uncertain, which allows the residual approach (IFRS 15, para. 79). Total price less the observable prices of the other items: 90,000 − 40,000 − 25,000 = 25,000. The two other prices are observable and stable: they could not themselves be obtained as a residual.","es":""},"common_error":{"fr":"","en":"Applying the residual approach to an item that has a stable observable price, or forgetting to check that the residual item has never been sold on its own.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Observable price of the print campaign","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Observable price of the radio spots","es":""},"value":"25000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Sum of the observable stand-alone selling prices of the other items","es":""},"answer":65000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Stand-alone selling price of the sponsorship (residual approach)","es":""},"answer":25000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Stand-alone selling price of the sponsorship (residual approach)","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Observable price of the print campaign","es":""},"value":40000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Observable price of the radio spots","es":""},"value":25000,"unit":"EUR"}],"result":25000,"unit":"EUR"}],"rationale":{"fr":"","en":"The sponsorship has never been sold on its own and is not yet priced: its stand-alone selling price is uncertain, which allows the residual approach (IFRS 15, para. 79).","es":""},"references":["REF.IFRS15.79"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000062","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"ALLOCATION_TO_PERIOD_REVENUE","difficulty":"INTERMEDIATE","estimated_time_s":240,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"numeric-example"},"references":["IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Case data: on 1 July N, an entity delivers equipment and starts a 3-year maintenance contract, for a total price of 90,000 collected on delivery. Stand-alone selling prices at contract inception: equipment 75,000 (observable price), maintenance 25,000. Teaching assumption: maintenance is provided evenly over 36 months. Calculate revenue for year N (year end 31 December) and the contract liability balance.","es":""},"explanation":{"fr":"","en":"Proportionate allocation (IFRS 15, para. 76): equipment 90,000 × 75/100 = 67,500; maintenance 22,500. Revenue N: delivered equipment 67,500 + maintenance 22,500 × 6/36 = 3,750, i.e. 71,250. The rest of the maintenance paid in advance (22,500 − 3,750 = 18,750) is a contract liability. The even pattern of maintenance is a teaching assumption.","es":""},"common_error":{"fr":"","en":"Recognising 75,000 for the equipment (its stand-alone selling price) instead of its share of the transaction price.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the equipment","es":""},"value":"75000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the maintenance (3 years)","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Months of maintenance provided in N","es":""},"value":"6","unit":"MONTHS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Price allocated to the equipment","es":""},"answer":67500,"tolerance":0.01,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Price allocated to the maintenance","es":""},"answer":22500,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Revenue for year N","es":""},"answer":71250,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Contract liability at 31 December N","es":""},"answer":18750,"tolerance":0.01,"unit":"EUR"}],"formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Revenue for year N","es":""},"expression":"a + b * c / d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Price allocated to the equipment","es":""},"value":67500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Price allocated to the maintenance","es":""},"value":22500,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Months of maintenance provided in N","es":""},"value":6,"unit":"MONTHS"},{"symbol":"d","meaning":{"fr":"","en":"maintenance is provided evenly over 36 months","es":""},"value":36}],"result":71250,"unit":"EUR"}],"rationale":{"fr":"","en":"Proportionate allocation (IFRS 15, para. 76): equipment 90,000 × 75/100 = 67,500","es":""},"references":["REF.IFRS15.76"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000063","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"INDUSTRIAL","tested_point":"ALLOCATION_ENTRY_ON_DELIVERY","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"entry"},"references":["IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Case data (Hydralis): price 120,000 allocated as 92,307.69 (unit), 9,230.77 (installation) and 18,461.54 (2-year maintenance). On delivery of the unit, the customer pays the full 120,000; installation has not yet been performed. Record the delivery entry.","es":""},"explanation":{"fr":"","en":"Only the satisfied obligation (the unit) gives rise to revenue: 92,307.69, its share of the price (IFRS 15, para. 76). The amount collected for installation and maintenance (9,230.77 + 18,461.54 = 27,692.31) pays for services still owed: it is a contract liability. Debit 120,000 = credits 92,307.69 + 27,692.31.","es":""},"common_error":{"fr":"","en":"Crediting revenue with 120,000 on delivery, or with 100,000 (the unit's stand-alone selling price).","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}}],"lines":[{"id":"L1","account":"CASH","side":"DEBIT","amount":120000,"given":["account","side"]},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":92307.69},{"id":"L3","account":"CONTRACT_LIABILITY","side":"CREDIT","amount":27692.31}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000064","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"SOFTWARE","tested_point":"ALLOCATION_ENTRY_RECEIVABLE","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"entry"},"references":["IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Case data: price 180,000 allocated as 108,000 (licence), 27,000 (implementation) and 45,000 (one year of support). At go-live, the licence is transferred and implementation is complete; support begins. The publisher then invoices the full 180,000, payable in 30 days with no other condition (unconditional right). Record the entry at go-live.","es":""},"explanation":{"fr":"","en":"Two obligations are satisfied: licence 108,000 + implementation 27,000 = 135,000 of revenue (shares from the allocation, IFRS 15, para. 76). As the right to payment is unconditional, the invoice is a receivable of 180,000. The 45,000 invoiced for support not yet provided is a contract liability. The balancing accounts follow from the invoicing terms, which are case data.","es":""},"common_error":{"fr":"","en":"Recognising 150,000 of revenue (stand-alone selling prices of the licence and implementation) instead of their shares of the price.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"REFUND_LIABILITY","text":{"fr":"","en":"Refund liability","es":""}}],"lines":[{"id":"L1","account":"RECEIVABLE","side":"DEBIT","amount":180000},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":135000},{"id":"L3","account":"CONTRACT_LIABILITY","side":"CREDIT","amount":45000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000065","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"SSP_METHOD_SELECTION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"estimation-methods"},"references":["IFRS 15 §77","IFRS 15 §78","IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"For each situation (case data), classify the most suitable basis for determining the stand-alone selling price of the item concerned.","es":""},"explanation":{"fr":"","en":"The observable price of separate sales is the best evidence (IFRS 15, para. 77). Otherwise, the entity estimates, maximising observable inputs (IFRS 15, para. 78): adjusted competitor prices, or expected cost plus a margin when there is no market reference. The residual approach is permitted only for an uncertain (I4) or highly variable (I5) price (IFRS 15, para. 79).","es":""},"common_error":{"fr":"","en":"Using the residual approach when an observable price or market estimate exists: it is reserved for highly variable or uncertain prices.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OBSERVABLE","text":{"fr":"","en":"Observable price","es":""}},{"id":"ADJUSTED_MARKET","text":{"fr":"","en":"Adjusted market assessment","es":""}},{"id":"COST_PLUS","text":{"fr":"","en":"Expected cost plus a margin","es":""}},{"id":"RESIDUAL","text":{"fr":"","en":"Residual approach","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"A spare part sold on its own every week to similar customers at a stable price","es":""},"category":"OBSERVABLE"},{"id":"I2","text":{"fr":"","en":"A training service never sold on its own, but offered by several competitors at known prices","es":""},"category":"ADJUSTED_MARKET"},{"id":"I3","text":{"fr":"","en":"Bespoke support with no market equivalent, whose costs are budgeted precisely","es":""},"category":"COST_PLUS"},{"id":"I4","text":{"fr":"","en":"A new software module never sold on its own, not yet priced; the other items in the contract have observable prices","es":""},"category":"RESIDUAL"},{"id":"I5","text":{"fr":"","en":"Consulting sold at between 300 and 2,000 a day depending on the customer, with no representative price; the other items have observable prices","es":""},"category":"RESIDUAL"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000066","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"RETAIL","tested_point":"RESIDUAL_APPROACH_CONDITIONS","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"estimation-methods"},"references":["IFRS 15 §77","IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"Case data: a household-appliance retailer sells a fitted kitchen (appliances and fitting, observable prices) with an extended warranty that it also sells on its own every day, at between 180 and 200. For simplicity, the finance team proposes to determine the extended warranty's stand-alone selling price using the residual approach. What should be concluded?","es":""},"explanation":{"fr":"","en":"A narrow range of 180 to 200 on daily sales is not a highly variable price, and the price is not uncertain: the residual approach is not permitted (IFRS 15, para. 79). The best evidence is the observable price of those separate sales (IFRS 15, para. 77).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is acceptable: the warranty is the last item in the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"The order of the items in the contract is not a condition for the residual approach.","es":""}},{"id":"B","text":{"fr":"","en":"It is not allowed: the price is neither highly variable nor uncertain; the observable price of separate sales must be used.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is acceptable if the auditor does not object.","es":""},"correct":false,"feedback":{"fr":"","en":"The conditions for the residual approach are set by the standard, not by the auditor’s agreement.","es":""}},{"id":"D","text":{"fr":"","en":"The whole contract discount must be allocated to the warranty, then the residual approach applied.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing justifies reserving the discount for the warranty, and the residual approach remains excluded.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000067","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"TELECOM","tested_point":"ALLOCATION_BASIS_ERRORS","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"pitfalls"},"references":["IFRS 15 §76","IFRS 15 §77"],"exercise":{"prompt":{"fr":"","en":"An operator sells a smartphone and a 24-month plan for a total price of 1,200 (case data). Spot the incorrect statements in its analysis memo.","es":""},"explanation":{"fr":"","en":"The allocation is based on stand-alone selling prices at contract inception (IFRS 15, para. 76), best evidenced by the price of separate sales to similar customers (IFRS 15, para. 77); neither the invoiced price nor a periodic update is acceptable.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The transaction price of 1,200 is allocated between the phone and the plan, two performance obligations.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"The contract invoices the phone at 1: it is therefore allocated 1 and the rest goes to the plan.","es":""},"erroneous":true,"correction":{"fr":"","en":"The amount invoiced is not an allocation basis: the price is allocated in proportion to stand-alone selling prices (IFRS 15, paras. 76-77).","es":""}},{"id":"S3","text":{"fr":"","en":"The stand-alone selling price of the plan is that of the 'SIM-only' offer sold on its own to similar customers.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"The stand-alone selling prices are updated every quarter and the allocation is recalculated.","es":""},"erroneous":true,"correction":{"fr":"","en":"Stand-alone selling prices are determined at contract inception; the allocation is not redone every quarter (IFRS 15, para. 76).","es":""}},{"id":"S5","text":{"fr":"","en":"The phone, regularly sold on its own in stores, has an observable price.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000068","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"LIST_PRICE_AS_SSP","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"observable-price"},"references":["IFRS 15 §77"],"exercise":{"prompt":{"fr":"","en":"A list price may be used as the stand-alone selling price when the entity actually sells the good separately at that price to similar customers.","es":""},"explanation":{"fr":"","en":"True. A list price may be the stand-alone selling price; it is simply not presumed to be. When it matches actual separate sales to similar customers, it is an observable price (IFRS 15, para. 77).","es":""},"common_error":{"fr":"","en":"Believing that a list price is always excluded, whereas it is merely not presumed.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000069","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"SOFTWARE","tested_point":"COMBINED_ESTIMATION_METHODS","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IFRS15.000007","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"combined-methods"},"references":["IFRS 15 §75","IFRS 15 §79","IFRS 15 §80"],"exercise":{"prompt":{"fr":"","en":"Analyse Intégria's contract and answer the questions.","es":""},"explanation":{"fr":"","en":"Summary: observable price for the servers, aggregate residual for the two services with highly variable prices, then a split using another method (IFRS 15, paras. 79-80); no allocation if the contract had only one obligation (IFRS 15, para. 75).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Intégria (a fictitious entity) sells a hospital servers, staff training and a data migration, three distinct performance obligations, for 340,000. The servers are regularly sold on their own at 220,000 (stable price). Training and migration are sold at widely dispersed prices from one customer to another, with no representative price (documented finding). Intégria can, however, estimate their expected costs plus a margin: 40,000 for training and 110,000 for migration (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Which approach is suitable for estimating the stand-alone selling prices of the training and the migration?","es":""},"explanation":{"fr":"","en":"When several items have highly variable prices, the entity may estimate their aggregate amount using the residual approach and then use another method for each one (IFRS 15, para. 80). The server price is observable and stable: it is not obtained as a residual (IFRS 15, para. 79).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Residual approach for the aggregate amount of the two services, then a split of that amount using another method","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Residual approach separately for each of the two services","es":""},"correct":false,"feedback":{"fr":"","en":"Only one amount can be obtained by difference; two successive residuals are impossible.","es":""}},{"id":"C","text":{"fr":"","en":"Split the 340,000 equally among the three items","es":""},"correct":false,"feedback":{"fr":"","en":"An equal split ignores stand-alone selling prices and the allocation objective.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the amounts (split method used: expected cost plus a margin, case data).","es":""},"explanation":{"fr":"","en":"Residual: 340,000 − 220,000 = 120,000 (IFRS 15, para. 80). Split using expected cost plus a margin: training 120,000 × 40/150 = 32,000; migration 120,000 × 110/150 = 88,000. The choice of this second method is an assumption of the case.","es":""},"common_error":{"fr":"","en":"Splitting the residual equally, or applying the residual approach to servers with an observable price.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"340000","unit":"EUR"},{"label":{"fr":"","en":"Observable price of the servers","es":""},"value":"220000","unit":"EUR"},{"label":{"fr":"","en":"Expected cost plus margin — training","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Expected cost plus margin — migration","es":""},"value":"110000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Aggregate amount for the two services (residual approach)","es":""},"answer":120000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Share of the training","es":""},"answer":32000,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Share of the migration","es":""},"answer":88000,"tolerance":0.01,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Aggregate amount for the two services (residual approach)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price","es":""},"value":340000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Observable price of the servers","es":""},"value":220000,"unit":"EUR"}],"result":120000,"unit":"EUR"}],"rationale":{"fr":"","en":"Residual: 340,000 − 220,000 = 120,000 (IFRS 15, para. 80).","es":""},"references":["REF.IFRS15.80"]}},{"prompt":{"fr":"","en":"If the three items formed a single performance obligation (an integrated, non-distinct solution), Intégria would still have to allocate the price among them.","es":""},"explanation":{"fr":"","en":"False. The allocation rules do not apply to a contract with only one performance obligation (IFRS 15, para. 75).","es":""},"common_error":{"fr":"","en":"Allocating the price within a single obligation: allocation rules apply only between several obligations.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000070","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"DISCOUNT_PROPORTIONAL","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §81"],"exercise":{"prompt":{"fr":"","en":"Case data: a furniture retailer sells a hotel a sofa, an armchair, and delivery with assembly (three performance obligations) for 3,240. Stand-alone selling prices at contract inception (regular separate sales): sofa 2,400, armchair 900, delivery and assembly 300. The retailer never regularly sells a bundle of some of these items at a discount. Calculate the discount and how it is allocated.","es":""},"explanation":{"fr":"","en":"The sum of the stand-alone selling prices (3,600) exceeds the promised consideration (3,240): a discount of 360 (IFRS 15, para. 81). No observable evidence links it to particular items, so it is allocated proportionately to all three obligations, which is what the relative allocation does (IFRS 15, para. 81). Each item receives 3,240 / 3,600 = 90% of its stand-alone selling price: 2,160, 810 and 270 (total 3,240).","es":""},"common_error":{"fr":"","en":"Charging the whole discount to delivery and assembly (\"free of charge\"): without observable evidence, the discount cannot be reserved for one item.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"3240","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the sofa","es":""},"value":"2400","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the armchair","es":""},"value":"900","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of delivery and assembly","es":""},"value":"300","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Discount granted to the customer","es":""},"answer":360,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Price allocated to the sofa","es":""},"answer":2160,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Price allocated to the armchair","es":""},"answer":810,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Price allocated to delivery and assembly","es":""},"answer":270,"tolerance":0.01,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000071","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"DISCOUNT_TO_SOME_OBLIGATIONS","difficulty":"ADVANCED","estimated_time_s":300,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-to-some"},"references":["IFRS 15 §81","IFRS 15 §82"],"exercise":{"prompt":{"fr":"","en":"Case data: a solar installer sells a farm solar panels, an inverter and a storage battery (three performance obligations) for 28,000. Each item is regularly sold on its own: panels 18,000, inverter 6,000, battery 8,000. The installer also regularly sells the \"inverter + battery\" bundle for 10,000, and regularly sells the panels on their own at 18,000. Allocate the transaction price.","es":""},"explanation":{"fr":"","en":"The sum of the stand-alone selling prices exceeds the promised consideration: there is a discount (IFRS 15, para. 81). Contract discount: 32,000 − 28,000 = 4,000, the same as that of the inverter + battery bundle (14,000 − 10,000). The three conditions are met (regular separate sales of each item, regular sales of the bundle at a discount, substantially the same discount): the discount is allocated entirely to the inverter and the battery (IFRS 15, para. 82). Panels 18,000; the bundle's 10,000 is allocated pro rata: inverter 10,000 × 6/14 = 4,285.71; battery 10,000 − 4,285.71 = 5,714.29. Total 28,000.","es":""},"common_error":{"fr":"","en":"Spreading the discount over all three items (panels 15,750) although the observable evidence of the bundle links it to the inverter and the battery.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"28000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the panels","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the inverter","es":""},"value":"6000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the battery","es":""},"value":"8000","unit":"EUR"},{"label":{"fr":"","en":"Usual price of the inverter + battery bundle","es":""},"value":"10000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Discount in the contract","es":""},"answer":4000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Price allocated to the panels","es":""},"answer":18000,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Price allocated to the inverter","es":""},"answer":4285.71,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Price allocated to the battery","es":""},"answer":5714.29,"tolerance":0.01,"unit":"EUR"}],"formula":{"lines":[{"step":"S4","meaning":{"fr":"","en":"Price allocated to the battery","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Usual price of the inverter + battery bundle","es":""},"value":10000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Price allocated to the inverter","es":""},"value":4285.71,"unit":"EUR"}],"result":5714.29,"unit":"EUR"}],"rationale":{"fr":"","en":"The sum of the stand-alone selling prices exceeds the promised consideration: there is a discount (IFRS 15, para. 81).","es":""},"references":["REF.IFRS15.81","REF.IFRS15.82"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000072","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE","IFRS15.ALLOCATION.CHANGES"],"dimension":"CALCULATION","format":"CALCULATION","context":"SOFTWARE","tested_point":"VARIABLE_TO_ONE_OBLIGATION","difficulty":"ADVANCED","estimated_time_s":300,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"variable-to-one"},"references":["IFRS 15 §84","IFRS 15 §85","IFRS 15 §88","IFRS 15 §89"],"exercise":{"prompt":{"fr":"","en":"Case data: a software publisher sells a software licence (transferred at inception, stand-alone selling price 200,000) and 2 years of hosting (stand-alone selling price 60,000) for a fixed price of 260,000. A bonus of 12,000 is payable if hosting availability exceeds 99.9% over the 2 years; it depends only on the hosting. Constrained to zero at inception, it becomes highly probable at the end of year 1, when 12 of the 24 months of hosting have been provided. Both criteria for a specific allocation are met (case analysis). Calculate.","es":""},"explanation":{"fr":"","en":"Variable consideration may relate to only part of the contract (IFRS 15, para. 84). The bonus relates specifically to the hosting, and allocating it entirely there is consistent with the allocation objective (the fixed price already pays for each item at its stand-alone selling price): it goes entirely to the hosting (IFRS 15, paras. 85 and 89). Half of the hosting having been provided, 6,000 is recognised immediately (IFRS 15, para. 88, the course's reading for a partially satisfied obligation) and 6,000 in year 2. A proportionate allocation would have given 12,000 × 200/260 = 9,230.77 to the licence: revenue on an item the bonus does not pay for.","es":""},"common_error":{"fr":"","en":"Allocating the bonus in proportion to the stand-alone selling prices and immediately recognising 9,230.77 for the licence already transferred.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Availability bonus","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Months of hosting provided at the end of year 1","es":""},"value":"12","unit":"MONTHS"},{"label":{"fr":"","en":"Total hosting period","es":""},"value":"24","unit":"MONTHS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Share of the bonus allocated to the licence","es":""},"answer":0,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Share of the bonus allocated to hosting","es":""},"answer":12000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Revenue recognised immediately at the end of year 1","es":""},"answer":6000,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Bonus revenue recognised in year 2","es":""},"answer":6000,"tolerance":0.01,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"For comparison: share the licence would have received under a (wrong) proportionate allocation","es":""},"answer":9230.77,"tolerance":0.01,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000073","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"PRICE_CHANGE_ORIGINAL_BASIS","difficulty":"INTERMEDIATE","estimated_time_s":300,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §87","IFRS 15 §88"],"exercise":{"prompt":{"fr":"","en":"Case data: a supplier sells equipment, training and 12 months of assistance for 72,000. Stand-alone selling prices at inception: 50,000, 10,000 and 20,000 (total 80,000), giving an allocation of 45,000, 9,000 and 18,000. After 9 months (equipment delivered, training given, 9 of the 12 months of assistance provided), a late-delivery penalty of 4,000, which relates to the project as a whole, becomes unavoidable: the transaction price falls by 4,000. Meanwhile, the stand-alone selling price of the equipment has risen to 60,000. Teaching assumption: assistance is provided evenly. Calculate.","es":""},"explanation":{"fr":"","en":"After contract inception, the penalty changes the amount to which the supplier expects to be entitled: the transaction price changes (IFRS 15, para. 87). The penalty relates to the whole project: the change follows the original basis (IFRS 15, para. 88), ignoring the equipment's new stand-alone selling price (60,000). Equipment 4,000 × 50/80 = 2,500; training 500; assistance 1,000. The satisfied obligations bear their share immediately (2,500 + 500), as does the performed part of the assistance (1,000 × 9/12 = 750, the course's reading for a partially satisfied obligation): 3,750. The remaining 250 reduces the revenue of the last 3 months.","es":""},"common_error":{"fr":"","en":"Recalculating the weights with the equipment's new price (60/90), or charging the whole penalty to the remaining assistance.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Decrease in the transaction price","es":""},"value":"4000","unit":"EUR"},{"label":{"fr":"","en":"Original weights equipment / training / assistance","es":""},"value":"50/80 ; 10/80 ; 20/80","unit":"RATIO"},{"label":{"fr":"","en":"Months of assistance provided","es":""},"value":"9","unit":"MONTHS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Decrease allocated to the equipment","es":""},"answer":2500,"tolerance":0.01,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Decrease allocated to the training","es":""},"answer":500,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Decrease allocated to the assistance","es":""},"answer":1000,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Reduction in revenue recognised immediately","es":""},"answer":3750,"tolerance":0.01,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"Reduction still to be reflected over the last 3 months","es":""},"answer":250,"tolerance":0.01,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000074","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"AUTOMOTIVE","tested_point":"PRICE_CHANGE_CATCH_UP_ENTRY","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"entry"},"references":["IFRS 15 §88"],"exercise":{"prompt":{"fr":"","en":"Case data: an automotive supplier sold a test bench (delivered at inception) and 2 years of calibration service for 135,000; stand-alone selling prices 120,000 and 30,000, giving weights of 80% and 20%. A bonus of 10,000 linked to the success of the project as a whole, constrained to zero at inception, becomes highly probable at the end of year 1 (1 of the 2 years of calibration provided, evenly). The supplier then invoices the bonus, with an unconditional right to payment. Record the entry.","es":""},"explanation":{"fr":"","en":"The bonus relates to the whole contract: it follows the original basis (IFRS 15, para. 88) — bench 8,000, calibration 2,000. The bench has been delivered: 8,000 recognised as revenue immediately; half of the calibration has been provided: 1,000 as revenue, 1,000 for year 2. As the right to payment is unconditional, the invoice is a receivable of 10,000; the 1,000 invoiced for future calibration is a contract liability. Debit 10,000 = credits 9,000 + 1,000. The accounts follow from the invoicing terms, which are case data.","es":""},"common_error":{"fr":"","en":"Crediting 10,000 to revenue, or conversely deferring the whole bonus to year 2.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}}],"lines":[{"id":"L1","account":"RECEIVABLE","side":"DEBIT","amount":10000},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":9000},{"id":"L3","account":"CONTRACT_LIABILITY","side":"CREDIT","amount":1000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000075","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"RECOGNITION","format":"MULTIPLE_CHOICE","context":"TELECOM","tested_point":"DISCOUNT_ALLOCATION_EVIDENCE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-to-some"},"references":["IFRS 15 §82"],"exercise":{"prompt":{"fr":"","en":"An operator sells a business a fibre box, a mobile phone plan and a cybersecurity service, with an overall discount. It wishes to allocate the discount entirely to the mobile plan and the cybersecurity service. Which facts are needed to support this?","es":""},"explanation":{"fr":"","en":"The three conditions are cumulative: regular separate sales of each item, regular sales of a bundle of some of the items at a discount, substantially the same discount; together they provide observable evidence of the obligation to which the discount belongs (IFRS 15, para. 82).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The box, the mobile plan and the cybersecurity service are each regularly sold on their own.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The \"mobile + cybersecurity\" bundle is regularly sold at a discount.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"That bundle's discount is substantially the same as the discount in the contract.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The salesperson negotiated the discount talking only about the mobile plan.","es":""},"correct":false,"feedback":{"fr":"","en":"A commercial negotiation is not observable evidence drawn from actual sales.","es":""}},{"id":"E","text":{"fr":"","en":"The bundle was sold once last year, during a promotion.","es":""},"correct":false,"feedback":{"fr":"","en":"A one-off sale is not a regular sale of the bundle.","es":""}},{"id":"F","text":{"fr":"","en":"The box is delivered first, so it is prudent to leave it at full price.","es":""},"correct":false,"feedback":{"fr":"","en":"The order of delivery does not link the discount to an item; it is precisely the risk of bringing revenue forward that the rule seeks to avoid.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000076","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"HEALTHCARE","tested_point":"PRICE_CHANGE_SPECIFIC_ALLOCATION","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §85","IFRS 15 §89"],"exercise":{"prompt":{"fr":"","en":"Case data: a manufacturer sold a clinic an imaging device (delivered) and 3 years of maintenance. A bonus of 3,000, which depends only on the maintenance response times, becomes highly probable during the contract; allocating it entirely to the maintenance is consistent with the allocation objective (case analysis). How is this change in the price allocated?","es":""},"explanation":{"fr":"","en":"A change in the price is allocated entirely to one obligation only if the criteria in para. 85 are met (IFRS 15, para. 89): that is the case here, since the bonus depends only on the maintenance efforts and the allocation remains consistent with the allocation objective (IFRS 15, para. 85).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On the original basis, between the device and the maintenance","es":""},"correct":false,"feedback":{"fr":"","en":"The original basis is the general rule, but a change that meets both criteria is allocated entirely to the obligation concerned.","es":""}},{"id":"B","text":{"fr":"","en":"Entirely to the maintenance","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"On the stand-alone selling prices at the date of the change","es":""},"correct":false,"feedback":{"fr":"","en":"Price changes are never allocated on updated stand-alone selling prices.","es":""}},{"id":"D","text":{"fr":"","en":"Entirely to the device, already delivered, so as to recognise it at once","es":""},"correct":false,"feedback":{"fr":"","en":"The bonus does not pay for the device; allocating it there would bring revenue forward.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000077","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"SOFTWARE","tested_point":"PRICE_CHANGE_REALLOCATION_ERRORS","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"pitfalls"},"references":["IFRS 15 §88","IFRS 15 §90"],"exercise":{"prompt":{"fr":"","en":"A software publisher sold a licence (transferred) and 3 years of support. In year 2, an indexation clause covering the whole contract increases the transaction price by 9,000 (case data). Spot the incorrect statements in the controller's memo.","es":""},"explanation":{"fr":"","en":"A subsequent price change follows the original basis and the share of satisfied obligations is recognised immediately (IFRS 15, para. 88); a change arising from a modification falls under the modification rules (IFRS 15, para. 90).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The 9,000 increase is allocated between the licence and the support using the weights set at contract inception.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"As the market price of the licence has fallen, we redo the allocation with current stand-alone selling prices.","es":""},"erroneous":true,"correction":{"fr":"","en":"The change follows the original basis; the allocation is not redone to reflect changes in stand-alone selling prices (IFRS 15, para. 88).","es":""}},{"id":"S3","text":{"fr":"","en":"The share allocated to the licence, already transferred, is fully deferred over the remaining support period.","es":""},"erroneous":true,"correction":{"fr":"","en":"The share allocated to an obligation already satisfied is recognised as revenue in the period of the change (IFRS 15, para. 88).","es":""}},{"id":"S4","text":{"fr":"","en":"The negotiated addition of an extra module, with a price increase, will be treated in the same way as the indexation.","es":""},"erroneous":true,"correction":{"fr":"","en":"A price change resulting from a contract modification follows the modification rules, not those for price changes (IFRS 15, para. 90).","es":""}},{"id":"S5","text":{"fr":"","en":"The share allocated to the support is recognised for the portion already provided, the rest over the remaining support.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000078","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"DISCOUNT_BEFORE_RESIDUAL","difficulty":"INTERMEDIATE","estimated_time_s":45,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-to-some"},"references":["IFRS 15 §83"],"exercise":{"prompt":{"fr":"","en":"When a discount meets the conditions to be allocated to some obligations and the price of another item is estimated using the residual approach, the entity applies the residual approach first and then allocates the discount.","es":""},"explanation":{"fr":"","en":"False. The discount is allocated before the residual approach is used (IFRS 15, para. 83); in the reverse order, the item estimated by difference would absorb the discount and its price would be understated.","es":""},"common_error":{"fr":"","en":"Thinking that the residual approach \"balances\" the contract and must therefore come first.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000079","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"INDUSTRIAL","tested_point":"DISCOUNT_AND_RESIDUAL_SEQUENCE","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-to-some"},"references":["IFRS 15 §79","IFRS 15 §82","IFRS 15 §83","IFRS 15 §81"],"exercise":{"prompt":{"fr":"","en":"Analyse Clarvent's contract and answer the questions.","es":""},"explanation":{"fr":"","en":"Summary: discount reserved for X and Y on observable evidence of regular sales of the bundle (IFRS 15, para. 82), allocated before the residual approach used for Z (IFRS 15, paras. 83 and 79): X 31,200, Y 20,800, Z 43,000.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Clarvent (a fictitious entity, industrial ventilation) sells a warehouse, for 95,000, a ventilation unit X, a control system Y and an energy audit engagement Z (three performance obligations). X and Y are regularly sold on their own, at 36,000 and 24,000 (stable prices). Z is sold separately to many customers at widely dispersed prices (from 5,000 to 60,000), with no representative price (documented finding). Clarvent also regularly sells the X + Y bundle for 52,000. Clarvent has documented that the three conditions for reserving a discount for X and Y are met (case data).","es":""},"parts":[{"prompt":{"fr":"","en":"In what order must Clarvent proceed?","es":""},"explanation":{"fr":"","en":"The discount linked to X and Y by the observable evidence of the bundle is allocated before the residual approach (IFRS 15, paras. 82-83); Z, with a highly variable price, can then be estimated by difference (IFRS 15, para. 79).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"First allocate the bundle discount to X and Y (52,000), then estimate Z using the residual approach","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"First estimate Z as the difference from the full prices of X and Y, then allocate the balance","es":""},"correct":false,"feedback":{"fr":"","en":"That is the reverse of the required order: Z would absorb the discount.","es":""}},{"id":"C","text":{"fr":"","en":"Allocate the discount pro rata to X, Y and Z","es":""},"correct":false,"feedback":{"fr":"","en":"The conditions for allocation to X and Y are met; moreover, Z has no observable stand-alone selling price on which to base a pro rata.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the allocation (rounded to the cent).","es":""},"explanation":{"fr":"","en":"X + Y bundle: 52,000 allocated pro rata — X 52,000 × 36/60 = 31,200; Y 20,800. Z = 95,000 − 52,000 = 43,000 (IFRS 15, para. 83). In the reverse order, Z = 95,000 − 36,000 − 24,000 = 35,000: Z would absorb the bundle's 8,000 discount.","es":""},"common_error":{"fr":"","en":"Applying the residual approach before allocating the bundle discount: Z would then wrongly absorb the X and Y discount.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"95000","unit":"EUR"},{"label":{"fr":"","en":"Price of the X + Y bundle","es":""},"value":"52000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling prices of X and Y","es":""},"value":"36000 ; 24000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Price allocated to X","es":""},"answer":31200,"tolerance":0.01,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Price allocated to Y","es":""},"answer":20800,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Price allocated to Z (residual approach)","es":""},"answer":43000,"tolerance":0.01,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Price of Z if the residual approach were (wrongly) applied before the discount","es":""},"answer":35000,"tolerance":0.01,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Price allocated to Z (residual approach)","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price","es":""},"value":95000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Price of the X + Y bundle","es":""},"value":52000,"unit":"EUR"}],"result":43000,"unit":"EUR"}],"references":["REF.IFRS15.83"]}},{"prompt":{"fr":"","en":"If Clarvent had sold the X + Y bundle at 52,000 only once, during a trade-fair promotion, it could still reserve the discount for X and Y.","es":""},"explanation":{"fr":"","en":"False. Regular sales of the bundle at a discount are required; a one-off sale does not provide the required observable evidence (IFRS 15, para. 82). The discount would then be allocated proportionately to all obligations (IFRS 15, para. 81).","es":""},"common_error":{"fr":"","en":"Reserving the discount for X and Y on the basis of a one-off sale: regular discounted sales of the bundle are required.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000080","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE","IFRS15.ALLOCATION.CHANGES"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"ALLOCATION_MECHANISM_SELECTION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000008","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"how"},"references":["IFRS 15 §81","IFRS 15 §82","IFRS 15 §85","IFRS 15 §88"],"exercise":{"prompt":{"fr":"","en":"Classify each situation (case data) according to the allocation treatment that applies.","es":""},"explanation":{"fr":"","en":"Without observable evidence, the discount is allocated to all obligations (IFRS 15, para. 81); with the three conditions, it is reserved for some (IFRS 15, para. 82). Variable consideration relating specifically to one obligation is allocated to it if the allocation is consistent with the objective (IFRS 15, para. 85). A subsequent change concerning the whole contract follows the original basis, ignoring changes in stand-alone selling prices (IFRS 15, para. 88).","es":""},"common_error":{"fr":"","en":"Allocating the discount based on sales talk without observable evidence: it is then spread over all obligations.","es":""},"format":"CLASSIFICATION","categories":[{"id":"PROPORTIONAL","text":{"fr":"","en":"Discount allocated to all obligations","es":""}},{"id":"DISCOUNT_TO_SOME","text":{"fr":"","en":"Discount allocated to some obligations only","es":""}},{"id":"VARIABLE_TO_ONE","text":{"fr":"","en":"Variable consideration allocated entirely to one obligation","es":""}},{"id":"ORIGINAL_BASIS","text":{"fr":"","en":"Price change allocated on the original basis","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Overall discount of 5%; no bundle of some of the items is regularly sold at a discount","es":""},"category":"PROPORTIONAL"},{"id":"I2","text":{"fr":"","en":"Two of the three items are regularly sold together at a discount identical to that in the contract; each item is also regularly sold on its own","es":""},"category":"DISCOUNT_TO_SOME"},{"id":"I3","text":{"fr":"","en":"A bonus depends only on the response times of the maintenance service, and allocating it to that service remains consistent with the allocation objective","es":""},"category":"VARIABLE_TO_ONE"},{"id":"I4","text":{"fr":"","en":"A penalty relating to the overall delay of the project becomes unavoidable after delivery of the equipment","es":""},"category":"ORIGINAL_BASIS"},{"id":"I5","text":{"fr":"","en":"The salesperson presented the discount as being \"on the software\", with no bundle sales observed","es":""},"category":"PROPORTIONAL"},{"id":"I6","text":{"fr":"","en":"An indexation covering the whole contract is set after inception, while the stand-alone selling prices have risen in the meantime","es":""},"category":"ORIGINAL_BASIS"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000081","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"MODIFICATION_SEPARATE_CONTRACT","difficulty":"INTERMEDIATE","estimated_time_s":240,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"separate-contract"},"references":["IFRS 15 §20"],"exercise":{"prompt":{"fr":"","en":"Case data: a manufacturer must deliver 800 display stands to a retail chain at 150 each (120,000); each stand is distinct. After 500 deliveries, the chain orders 200 more stands at 145, the stand-alone selling price charged at that date for that volume. Calculate.","es":""},"explanation":{"fr":"","en":"The addition concerns distinct goods, at a price reflecting their stand-alone selling price: the modification is a separate contract (IFRS 15, para. 20). The original contract is unaffected: 300 × 150 = 45,000 remains to be recognised; the new contract gives 200 × 145 = 29,000. Total: 500 × 150 + 45,000 + 29,000 = 149,000.","es":""},"common_error":{"fr":"","en":"Computing an average price over the 500 remaining stands ((45,000 + 29,000) / 500 = 148) although the separate-contract conditions are met.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Stands from the original contract still to be delivered","es":""},"value":"300","unit":"UNITS"},{"label":{"fr":"","en":"Original unit price","es":""},"value":"150","unit":"EUR"},{"label":{"fr":"","en":"Stands added","es":""},"value":"200","unit":"UNITS"},{"label":{"fr":"","en":"Unit price of the added stands","es":""},"value":"145","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue still to be recognised under the original contract","es":""},"answer":45000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Revenue of the new contract","es":""},"answer":29000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total revenue of both contracts (1,000 stands)","es":""},"answer":149000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Revenue still to be recognised under the original contract","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stands from the original contract still to be delivered","es":""},"value":300,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Original unit price","es":""},"value":150,"unit":"EUR"}],"result":45000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Revenue of the new contract","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stands added","es":""},"value":200,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit price of the added stands","es":""},"value":145,"unit":"EUR"}],"result":29000,"unit":"EUR"}],"rationale":{"fr":"","en":"The addition concerns distinct goods, at a price reflecting their stand-alone selling price: the modification is a separate contract (IFRS 15, para. 20).","es":""},"references":["REF.IFRS15.20"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000082","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"TELECOM","tested_point":"MODIFICATION_PROSPECTIVE","difficulty":"ADVANCED","estimated_time_s":300,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"prospective"},"references":["IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Case data: an operator provides a business with a 24-month managed connectivity service at 1,000 per month (24,000); each month of service is distinct. After 10 months, the customer obtains a 12-month extension at 700 per month, whereas the stand-alone selling price of the service is 950 per month; no circumstance of the contract explains the gap (case data). Course method: the price of the \"new contract\" is the original consideration not yet recognised plus the consideration for the modification. Calculate (rounded to the cent).","es":""},"explanation":{"fr":"","en":"The extension price (700) does not reflect the stand-alone selling price (950): not a separate contract (IFRS 15, para. 20). The remaining months are distinct from the months already provided: prospective treatment (IFRS 15, para. 21(a)). Using the course method: 14 × 1,000 + 12 × 700 = 22,400, spread over 26 months, i.e. 861.54 per month (the last month absorbs the rounding difference). Revenue for the first 10 months (10,000) is unchanged.","es":""},"common_error":{"fr":"","en":"Continuing to recognise 1,000 per month for 14 months and then 700 for 12 months, as if it were a separate contract.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Remaining months of the original contract","es":""},"value":"14","unit":"MONTHS"},{"label":{"fr":"","en":"Original monthly price","es":""},"value":"1000","unit":"EUR"},{"label":{"fr":"","en":"Months added","es":""},"value":"12","unit":"MONTHS"},{"label":{"fr":"","en":"Monthly price of the extension","es":""},"value":"700","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Original consideration not yet recognised","es":""},"answer":14000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Consideration for the modification","es":""},"answer":8400,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Price of the \"new contract\"","es":""},"answer":22400,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Monthly revenue for the remaining 26 months","es":""},"answer":861.54,"tolerance":0.01,"unit":"EUR"}],"formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Price of the \"new contract\"","es":""},"expression":"a * b + c * d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Remaining months of the original contract","es":""},"value":14,"unit":"MONTHS"},{"symbol":"b","meaning":{"fr":"","en":"Original monthly price","es":""},"value":1000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Months added","es":""},"value":12,"unit":"MONTHS"},{"symbol":"d","meaning":{"fr":"","en":"Monthly price of the extension","es":""},"value":700,"unit":"EUR"}],"result":22400,"unit":"EUR"}],"rationale":{"fr":"","en":"The extension price (700) does not reflect the stand-alone selling price (950): not a separate contract (IFRS 15, para. 20).","es":""},"references":["REF.IFRS15.20","REF.IFRS15.21"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000083","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"MODIFICATION_CUMULATIVE_CATCH_UP","difficulty":"ADVANCED","estimated_time_s":300,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"cumulative-catch-up"},"references":["IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Case data: a company is building a cold-storage warehouse (a single obligation satisfied over time) for 3,000,000; total estimated costs 2,400,000. Progress is measured by costs incurred (method chosen). At the end of year 1, costs incurred are 960,000. At the start of year 2, the customer approves the addition of a loading-dock area integrated into the building (not distinct): price + 1,000,000, estimated costs + 600,000. Calculate.","es":""},"explanation":{"fr":"","en":"The addition is not distinct from the partly completed building: cumulative catch-up (IFRS 15, para. 21(b)). Before: 960,000 / 2,400,000 = 40% → 1,200,000. After: price 4,000,000, costs 3,000,000, progress 960,000 / 3,000,000 = 32% → 1,280,000. Catch-up: + 80,000 of revenue at the modification date. Cost-based progress is the method chosen in the case (see the lesson on measuring progress).","es":""},"common_error":{"fr":"","en":"Keeping the 40% progress and applying it to the new price (1,600,000), which ignores the effect of the modification on the measure of progress.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Original price","es":""},"value":"3000000","unit":"EUR"},{"label":{"fr":"","en":"Original total estimated costs","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at the modification date","es":""},"value":"960000","unit":"EUR"},{"label":{"fr":"","en":"Change in price / estimated costs","es":""},"value":"+1000000 / +600000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Progress before the modification","es":""},"answer":40,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Revenue recognised at the end of year 1","es":""},"answer":1200000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Progress recalculated after the modification","es":""},"answer":32,"tolerance":0,"unit":"PERCENT"},{"id":"S4","label":{"fr":"","en":"Recalculated cumulative revenue","es":""},"answer":1280000,"tolerance":0,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"Catch-up adjustment at the modification date (+ or −)","es":""},"answer":80000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Progress before the modification","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs incurred at the modification date","es":""},"value":960000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Original total estimated costs","es":""},"value":2400000,"unit":"EUR"}],"result":40,"unit":"PERCENT"},{"step":"S3","meaning":{"fr":"","en":"Progress recalculated after the modification","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs incurred at the modification date","es":""},"value":960000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Original price","es":""},"value":3000000,"unit":"EUR"}],"result":32,"unit":"PERCENT"}],"rationale":{"fr":"","en":"The addition is not distinct from the partly completed building: cumulative catch-up (IFRS 15, para. 21(b)).","es":""},"references":["REF.IFRS15.21"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000084","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"ENERGY","tested_point":"MODIFICATION_NEGATIVE_CATCH_UP_ENTRY","difficulty":"ADVANCED","estimated_time_s":300,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"entry"},"references":["IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Case data: a company is building the substation of a wind farm (a single obligation satisfied over time, progress measured by costs) for 1,600,000; estimated costs 1,200,000. End of year 1: costs incurred 480,000, revenue recognised 640,000, invoiced and collected 500,000, contract asset 140,000. At the start of year 2, the customer approves a non-distinct reinforcement of the structure: price + 200,000, estimated costs + 400,000. No invoice is issued at that date. Record the catch-up entry.","es":""},"explanation":{"fr":"","en":"Cumulative catch-up (IFRS 15, para. 21(b)): new price 1,800,000, new costs 1,600,000, progress 480,000 / 1,600,000 = 30% → cumulative revenue 540,000, against 640,000 recognised: − 100,000. Revenue falls although the price rises, because the addition brings proportionately more costs (+ 33%) than price (+ 12.5%). With no invoicing, the other side is the contract asset, which falls from 140,000 to 40,000 (540,000 − 500,000).","es":""},"common_error":{"fr":"","en":"Crediting revenue (+ 200,000 × 40% = 80,000) while keeping the old progress.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}}],"lines":[{"id":"L1","account":"REVENUE","side":"DEBIT","amount":100000},{"id":"L2","account":"CONTRACT_ASSET","side":"CREDIT","amount":100000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000085","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"SOFTWARE","tested_point":"MODIFICATION_POSITIVE_CATCH_UP_ENTRY","difficulty":"ADVANCED","estimated_time_s":300,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"entry"},"references":["IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Case data: a digital services company is developing custom software (a single obligation satisfied over time) for 400,000; 4,000 hours estimated. Progress is measured by hours worked (method chosen). At the modification date: 1,500 hours worked, revenue recognised 150,000, fully invoiced and collected. The customer approves the addition of features integrated into the same software (not distinct): price + 200,000, estimated hours + 1,000. No invoice is issued at that date. Record the catch-up entry.","es":""},"explanation":{"fr":"","en":"Cumulative catch-up (IFRS 15, para. 21(b)): new price 600,000, new hours 5,000, progress 1,500 / 5,000 = 30% (against 37.5% before) → cumulative revenue 180,000, against 150,000 recognised: + 30,000. The right to this additional revenue is not yet invoiced: contract asset (case data on invoicing). Debit 30,000 = credit 30,000.","es":""},"common_error":{"fr":"","en":"Applying the old progress (37.5%) to the new price, giving a catch-up of 75,000.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}}],"lines":[{"id":"L1","account":"CONTRACT_ASSET","side":"DEBIT","amount":30000},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":30000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000086","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"SOFTWARE","tested_point":"UNPRICED_MODIFICATION_ESTIMATE","difficulty":"EXPERT","estimated_time_s":360,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"unpriced-change"},"references":["IFRS 15 §18","IFRS 15 §19","IFRS 15 §21","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"Case data: an integrator is deploying a business software package (a single obligation satisfied over time, progress measured by costs) for 300,000; estimated costs 200,000; costs incurred 120,000, revenue recognised 180,000. The customer approves in writing additional non-distinct developments (estimated costs + 40,000), but their price is still under negotiation. The integrator estimates at 60,000 the amount to which it expects to be entitled; its constraint analysis concludes that only 45,000 may be included in the transaction price: for that amount, it is highly probable that resolving the uncertainty will not cause a significant reversal of cumulative revenue (estimate and constraint analysis: case data). Calculate.","es":""},"explanation":{"fr":"","en":"The change in scope is approved: the modification exists even though the price is not set (IFRS 15, para. 18). The change is estimated under the variable consideration rules, including the constraint (IFRS 15, paras. 19 and 56): 45,000. The developments are not distinct: cumulative catch-up (IFRS 15, para. 21(b)). Price 345,000; progress 120,000 / 240,000 = 50%; cumulative revenue 172,500 against 180,000: − 7,500. With an unconstrained 60,000, cumulative revenue would have stayed at 180,000: the constraint avoids recognising revenue that may be reversed.","es":""},"common_error":{"fr":"","en":"Waiting for the negotiation to end before accounting for the modification, or using the 60,000 estimate without applying the constraint.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Original price","es":""},"value":"300000","unit":"EUR"},{"label":{"fr":"","en":"Estimated costs after the modification","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Estimated price change / amount retained after the constraint","es":""},"value":"60000 / 45000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Change included in the transaction price","es":""},"answer":45000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"New transaction price","es":""},"answer":345000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Recalculated progress","es":""},"answer":50,"tolerance":0,"unit":"PERCENT"},{"id":"S4","label":{"fr":"","en":"Catch-up adjustment at the modification date (+ or −)","es":""},"answer":-7500,"tolerance":0,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"For comparison: catch-up if the unconstrained estimate of 60,000 had (wrongly) been used","es":""},"answer":0,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Recalculated progress","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs incurred","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Estimated costs after the modification","es":""},"value":240000,"unit":"EUR"}],"result":50,"unit":"PERCENT"}],"rationale":{"fr":"","en":"The change in scope is approved: the modification exists even though the price is not set (IFRS 15, para. 18).","es":""},"references":["REF.IFRS15.18","REF.IFRS15.19","REF.IFRS15.21","REF.IFRS15.56"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000087","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"MODIFICATION_TREATMENT_SELECTION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"how"},"references":["IFRS 15 §18","IFRS 15 §20","IFRS 15 §21","IFRS 15 §19"],"exercise":{"prompt":{"fr":"","en":"Classify each situation (case data) according to its accounting treatment.","es":""},"explanation":{"fr":"","en":"Without approval, the existing contract applies (IFRS 15, para. 18). Distinct addition at the stand-alone selling price: separate contract (IFRS 15, para. 20). Otherwise, remaining items distinct: prospective; remaining items not distinct and part of a partially satisfied obligation: cumulative catch-up (IFRS 15, para. 21). Oral approval in line with customary practice is enough, and a price not yet set is estimated (IFRS 15, paras. 18-19).","es":""},"common_error":{"fr":"","en":"Accounting for a modification on the basis of a mere quote: until approved, the existing contract applies.","es":""},"format":"CLASSIFICATION","categories":[{"id":"NO_MODIFICATION","text":{"fr":"","en":"No modification yet: existing contract","es":""}},{"id":"SEPARATE","text":{"fr":"","en":"Separate contract","es":""}},{"id":"PROSPECTIVE","text":{"fr":"","en":"Prospective treatment","es":""}},{"id":"CATCH_UP","text":{"fr":"","en":"Cumulative catch-up","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"An extension quote has been sent to the customer, who has not yet replied","es":""},"category":"NO_MODIFICATION"},{"id":"I2","text":{"fr":"","en":"The customer orders 50 more machines, distinct, at the current stand-alone selling price","es":""},"category":"SEPARATE"},{"id":"I3","text":{"fr":"","en":"After 8 months of a distinct monthly service, the price of the remaining 16 months is reduced, with no services added","es":""},"category":"PROSPECTIVE"},{"id":"I4","text":{"fr":"","en":"An extra floor is added to a building under construction that forms a single obligation","es":""},"category":"CATCH_UP"},{"id":"I5","text":{"fr":"","en":"The customer adds 100 distinct licences at a 40% discount on the stand-alone selling price that nothing in the contract justifies; the remaining licences are distinct from those already delivered","es":""},"category":"PROSPECTIVE"},{"id":"I6","text":{"fr":"","en":"The project owner approves orally, in line with site practice, a non-distinct change to a structure in progress; the price will be set later","es":""},"category":"CATCH_UP"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000088","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"ANALYSIS","format":"SINGLE_CHOICE","context":"MEDIA","tested_point":"SEPARATE_CONTRACT_PRICE_CONDITION","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"separate-contract"},"references":["IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Case data: a media agency has undertaken to broadcast 40 distinct advertising spots at 2,500 each. After 25 broadcasts, the advertiser adds 20 spots at 1,500, whereas the stand-alone selling price of a spot is 2,500; the agency has no documented reason for the gap. Which treatment applies?","es":""},"explanation":{"fr":"","en":"The price of the additions does not reflect their stand-alone selling price, and no circumstance of the contract explains it: not a separate contract (IFRS 15, para. 20). The remaining spots are distinct from those already broadcast: prospective treatment (IFRS 15, para. 21(a)). Using the course method: (15 × 2,500 + 20 × 1,500) / 35 = 67,500 / 35 = 1,928.57 per spot.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Separate contract, since the 20 added spots are distinct","es":""},"correct":false,"feedback":{"fr":"","en":"Distinct goods are not enough: the price must also reflect their stand-alone selling price.","es":""}},{"id":"B","text":{"fr":"","en":"Prospective treatment: the remaining consideration is spread over the 35 remaining spots","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Cumulative catch-up on the 25 spots already broadcast","es":""},"correct":false,"feedback":{"fr":"","en":"The remaining spots are distinct from those broadcast: the past is not revisited.","es":""}},{"id":"D","text":{"fr":"","en":"No particular accounting: the 20 spots will be recognised at 1,500","es":""},"correct":false,"feedback":{"fr":"","en":"That is the outcome of a separate contract, whose second condition is not met.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000089","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","format":"ORDERING","context":"GENERIC","tested_point":"MODIFICATION_DECISION_SEQUENCE","difficulty":"BEGINNER","estimated_time_s":120,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"how"},"references":["IFRS 15 §18","IFRS 15 §19","IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Put the analysis of a contract change in the right order.","es":""},"explanation":{"fr":"","en":"Approval first (IFRS 15, para. 18), estimate of a price not yet set (IFRS 15, para. 19), separate-contract test (IFRS 15, para. 20), then the choice between prospective and catch-up depending on whether the remaining items are distinct (IFRS 15, para. 21).","es":""},"common_error":{"fr":"","en":"Choosing the treatment before checking approval and testing for a separate contract.","es":""},"format":"ORDERING","steps":[{"id":"O1","text":{"fr":"","en":"Check that the parties have approved the change (written, oral or customary practice)","es":""}},{"id":"O2","text":{"fr":"","en":"If the price is not set, estimate it as variable consideration, with the constraint","es":""}},{"id":"O3","text":{"fr":"","en":"Test for a separate contract: addition of distinct goods at a price reflecting their stand-alone selling price","es":""}},{"id":"O4","text":{"fr":"","en":"Otherwise, assess whether the remaining goods or services are distinct from those already transferred","es":""}},{"id":"O5","text":{"fr":"","en":"Apply prospective treatment or cumulative catch-up, and calculate its effects","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000090","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"CONSTRUCTION","tested_point":"MODIFICATION_TREATMENT_ERRORS","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"pitfalls"},"references":["IFRS 15 §18","IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"A construction company is building a school (a single obligation satisfied over time). The customer has signed an amendment adding a covered playground integrated into the building, for + 150,000 (case data). Spot the incorrect statements in the finance manager's memo.","es":""},"explanation":{"fr":"","en":"A modification can be approved orally (IFRS 15, para. 18); it is a separate contract only with a distinct addition at its stand-alone selling price (IFRS 15, para. 20); a non-distinct addition to a partially satisfied obligation gives a cumulative catch-up (IFRS 15, para. 21(b)).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Since the amendment is signed, it is necessarily a separate contract.","es":""},"erroneous":true,"correction":{"fr":"","en":"The form of the amendment does not matter: there must be an addition of distinct goods at their stand-alone selling price, which is not the case for a playground integrated into the building (IFRS 15, para. 20).","es":""}},{"id":"S2","text":{"fr":"","en":"The playground is not distinct from the school under construction.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"Revenue already recognised will not be changed; the price increase will be spread over the remaining work.","es":""},"erroneous":true,"correction":{"fr":"","en":"The remaining work is not distinct and is part of a partially satisfied obligation: cumulative catch-up at the modification date (IFRS 15, para. 21(b)).","es":""}},{"id":"S4","text":{"fr":"","en":"Progress will be recalculated with the new total estimated costs, and cumulative revenue adjusted accordingly.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"Before signature, an oral agreement by the customer in line with site practice would have had no accounting effect.","es":""},"erroneous":true,"correction":{"fr":"","en":"Approval can be oral or implied by customary practice: the modification would have existed from that agreement (IFRS 15, para. 18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000091","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"PROSPECTIVE_COMPUTATION_ERRORS","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"prospective"},"references":["IFRS 15 §19","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"A wholesaler was to deliver 2,000 cases of cleaning products to a supermarket at 30 each (60,000); each case is distinct. After 1,200 deliveries, the customer adds 400 cases at 20, a price unrelated to the stand-alone selling price (case data). Spot the incorrect statements in the calculation prepared by the accountant (course method for prospective treatment).","es":""},"explanation":{"fr":"","en":"Prospective treatment (IFRS 15, para. 21(a)): the past does not change; using the course method, the price of the new contract is 24,000 + 8,000 = 32,000, spread over 1,200 cases, i.e. 26.67 per case (check: 36,000 + 32,000 = 68,000 = 60,000 + 8,000). A price not yet set is estimated from approval (IFRS 15, para. 19).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Revenue for the 1,200 cases already delivered (36,000) remains unchanged.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"Only the 400 added cases are affected: they are recognised at 20, and the 800 remaining cases at 30.","es":""},"erroneous":true,"correction":{"fr":"","en":"That would be separate-contract treatment; here, the \"new contract\" covers everything that remains: (800 × 30 + 400 × 20) / 1,200 = 26.67 per case (IFRS 15, para. 21(a), course method).","es":""}},{"id":"S3","text":{"fr":"","en":"The consideration to be allocated is 400 × 20 = 8,000 over 1,200 cases.","es":""},"erroneous":true,"correction":{"fr":"","en":"The original consideration not yet recognised (800 × 30 = 24,000) must be added: 32,000 to be spread over 1,200 cases (course method).","es":""}},{"id":"S4","text":{"fr":"","en":"If the price of the 400 cases had not yet been set, the modification would have been accounted for only once the price was known.","es":""},"erroneous":true,"correction":{"fr":"","en":"Once the addition is approved, the price change not yet set is estimated as variable consideration, with the constraint (IFRS 15, para. 19).","es":""}},{"id":"S5","text":{"fr":"","en":"The remaining cases are distinct from those already delivered: the treatment is prospective.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000092","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"SERVICES","tested_point":"MODIFICATION_MINI_CASE","difficulty":"EXPERT","estimated_time_s":540,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"judgment"},"references":["IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Analyse Propréa's amendments and answer the questions.","es":""},"explanation":{"fr":"","en":"Summary: without justification, the extension at 4,600 is accounted for prospectively (IFRS 15, paras. 20 and 21(a)): 4,866.67 per month over 36 months, without touching the 60,000 already recognised. A documented usual discount may, as a matter of judgement, allow classification as a separate contract (IFRS 15, para. 20).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Propréa (a fictitious entity, cleaning services) has signed a 36-month cleaning contract with a shopping centre at 5,000 per month (180,000); each month of service is distinct. After 12 months, the parties sign an amendment: a 12-month extension at 4,600 per month. The stand-alone selling price of the service is 5,000 per month and Propréa has no documented reason for the reduction (case data). Revenue for the first 12 months (60,000) has already been recognised.","es":""},"parts":[{"prompt":{"fr":"","en":"Which treatment applies to the amendment?","es":""},"explanation":{"fr":"","en":"Not a separate contract, as the price does not reflect the stand-alone selling price (IFRS 15, para. 20); remaining months distinct: prospective treatment (IFRS 15, para. 21(a)).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Separate contract","es":""},"correct":false,"feedback":{"fr":"","en":"The extension price (4,600) does not reflect the stand-alone selling price (5,000), without justification.","es":""}},{"id":"B","text":{"fr":"","en":"Prospective treatment","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Cumulative catch-up","es":""},"correct":false,"feedback":{"fr":"","en":"The remaining months are distinct from the months already provided; there is no partially satisfied obligation whose remainder is not distinct.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate using the course method (rounded to the cent).","es":""},"explanation":{"fr":"","en":"24 × 5,000 + 12 × 4,600 = 120,000 + 55,200 = 175,200, spread over 36 months: 4,866.67 per month (the last month absorbs the rounding difference). Prospective treatment does not change revenue already recognised (IFRS 15, para. 21(a)).","es":""},"common_error":{"fr":"","en":"Retroactively adjusting revenue of the first 12 months: prospective treatment does not change revenue already recognised.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Remaining months of the original contract","es":""},"value":"24","unit":"MONTHS"},{"label":{"fr":"","en":"Original monthly price","es":""},"value":"5000","unit":"EUR"},{"label":{"fr":"","en":"Months added / monthly price","es":""},"value":"12 / 4600","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Price of the \"new contract\"","es":""},"answer":175200,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Monthly revenue over the remaining 36 months","es":""},"answer":4866.67,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Adjustment to revenue for the first 12 months","es":""},"answer":0,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"Variant: the extension is granted at 4,900 per month, and Propréa shows, with supporting evidence, that it usually grants a 2% discount for any additional 12-month commitment. Which conclusion is the most defensible?","es":""},"explanation":{"fr":"","en":"The second separate-contract condition refers to a price reflecting the stand-alone selling price, adjusted where appropriate for the circumstances of the contract (IFRS 15, para. 20). The summary of the standard available to this course does not list the acceptable circumstances: whether a usual, documented discount for this type of commitment is enough to justify it is a matter of professional judgement that must be supported.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The extension can be treated as a separate contract, since the price reflects the stand-alone selling price adjusted for the circumstances of the contract, subject to robust documentation","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Any difference from 5,000 rules out a separate contract","es":""},"correct":false,"feedback":{"fr":"","en":"The second condition allows a stand-alone selling price adjusted for the circumstances of the contract.","es":""}},{"id":"C","text":{"fr":"","en":"A cumulative catch-up on the first 12 months is required","es":""},"correct":false,"feedback":{"fr":"","en":"The remaining months are distinct: cumulative catch-up does not apply.","es":""}}],"id":"P3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000093","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"GENERIC","tested_point":"MODIFICATION_APPROVAL_FORM","difficulty":"BEGINNER","estimated_time_s":45,"lesson_id":"LS.IFRS15.000009","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §18"],"exercise":{"prompt":{"fr":"","en":"A contract modification exists under IFRS 15 only if it has been approved in writing by both parties.","es":""},"explanation":{"fr":"","en":"False. Approval can be written, oral or implied by customary business practices (IFRS 15, para. 18). Until there is approval, the entity continues to apply the standard to the existing contract.","es":""},"common_error":{"fr":"","en":"Ignoring a work order accepted orally in line with customary practice, for lack of a signed amendment.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000094","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"OVER_TIME_CRITERION_IDENTIFICATION","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"how"},"references":["IFRS 15 §32","IFRS 15 §35","IFRS 15 §B3","IFRS 15 §B5","IFRS 15 §B8","IFRS 15 §B9"],"exercise":{"prompt":{"fr":"","en":"For each performance obligation, state the first criterion for recognition over time that is met (in the order (a), (b), (c)), or 'no criterion'. The facts are case data.","es":""},"explanation":{"fr":"","en":"Payroll: a recurring service consumed as provided (IFRS 15, para. B3). Fibre: a customer asset enhanced during the works (IFRS 15, paras. 35(b) and B5). Simulator: no alternative use (practical limitation, para. B8) and compensation approximating the selling price (IFRS 15, para. B9). Without that compensation, criterion (c) fails and, with no other criterion, the obligation is satisfied at a point in time, as for the standard forklifts (IFRS 15, para. 32).","es":""},"common_error":{"fr":"","en":"Choosing criterion (c) as soon as the asset is specific, without checking the amount of the termination compensation.","es":""},"format":"CLASSIFICATION","categories":[{"id":"A","text":{"fr":"","en":"Criterion (a)","es":""}},{"id":"B","text":{"fr":"","en":"Criterion (b)","es":""}},{"id":"C","text":{"fr":"","en":"Criterion (c)","es":""}},{"id":"NONE","text":{"fr":"","en":"No criterion","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Monthly payroll processing for a customer over two years","es":""},"category":"A"},{"id":"I2","text":{"fr":"","en":"Laying a fibre network in the ducts of a building owned by the customer, which can use it section by section","es":""},"category":"B"},{"id":"I3","text":{"fr":"","en":"Flight simulator designed for one airline's single aircraft type, made in the factory; termination compensated at any time at cost plus a reasonable margin","es":""},"category":"C"},{"id":"I4","text":{"fr":"","en":"Same simulator, but the termination clause only refunds the advances already paid, far below the costs incurred","es":""},"category":"NONE"},{"id":"I5","text":{"fr":"","en":"Sale of catalogue forklift trucks, delivered assembled","es":""},"category":"NONE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000095","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"AUTOMOTIVE","tested_point":"ALTERNATIVE_USE_ASSESSMENT","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"criterion-c-alternative-use"},"references":["IFRS 15 §36","IFRS 15","IFRS 15 §B8"],"exercise":{"prompt":{"fr":"","en":"An automotive supplier makes various products for carmakers. For each, does the asset have an alternative use to the supplier? (Case data.)","es":""},"explanation":{"fr":"","en":"The analysis considers the contractual restrictions and practical limitations that prevent the asset from being readily redirected (IFRS 15, para. B6). A contractual restriction counts only if it is substantive: the customer can enforce its rights to the specific asset (I3), which is not the case for interchangeable goods (I1) (IFRS 15, para. B7). A practical limitation requires a significant economic loss (I2), not a minor adjustment (I4) (IFRS 15, para. B8). The assessment is made at inception (IFRS 15, para. 36).","es":""},"common_error":{"fr":"","en":"Believing that an allocation clause or light customisation is enough to remove any alternative use.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ALT_USE","text":{"fr":"","en":"Has an alternative use","es":""}},{"id":"NO_ALT_USE","text":{"fr":"","en":"Has no alternative use","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Standard catalogue batteries; the contract reserves 'the first 500' for the customer, but any battery in stock can replace them","es":""},"category":"ALT_USE"},{"id":"I2","text":{"fr":"","en":"Dashboards designed for a single model; reusing them would require retooling at a cost close to the selling price","es":""},"category":"NO_ALT_USE"},{"id":"I3","text":{"fr":"","en":"Batch of seats numbered in the customer's name; the contract allows it to claim those specific seats if they were sold to someone else","es":""},"category":"NO_ALT_USE"},{"id":"I4","text":{"fr":"","en":"Series-produced wheels painted in the customer's colour; a simple, inexpensive repaint allows them to be sold to others at the normal price","es":""},"category":"ALT_USE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000096","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"CONSTRUCTION","tested_point":"RIGHT_TO_PAYMENT_ANALYSIS","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"criterion-c-right-to-payment"},"references":["IFRS 15 §32","IFRS 15 §35","IFRS 15 §37","IFRS 15","IFRS 15 §B9","IFRS 15 §B12"],"exercise":{"prompt":{"fr":"","en":"Analyse the off-plan sale of an office floor.","es":""},"explanation":{"fr":"","en":"First limb of criterion (c) met (IFRS 15, para. B7), second limb not met (IFRS 15, paras. 37 and B9): with no over-time criterion, revenue is recognised at a point in time (IFRS 15, para. 32). A different wording of the clause or different local law could reverse the conclusion: the analysis of the case data decides.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The developer Lanvelec sells off-plan the 4th floor of an office building under construction to a consulting firm, for 3,200,000. Case data: the contract prohibits Lanvelec from transferring this floor to a third party and the buyer could enforce its rights to that specific floor; criteria (a) and (b) are deemed not met (the buyer does not control the work in progress). The termination clause provides that if the buyer withdraws, Lanvelec receives only a lump-sum indemnity of 160,000 (5% of the price), the same whatever the stage of the works; a legal opinion confirms that local law grants it nothing more.","es":""},"parts":[{"prompt":{"fr":"","en":"Does the floor have an alternative use to Lanvelec?","es":""},"explanation":{"fr":"","en":"A contractual restriction removes the alternative use when the customer could enforce its rights to the promised asset if it were redirected (IFRS 15, para. B7).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: the contractual restriction is substantive","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes: an office building can always be sold to someone else","es":""},"correct":false,"feedback":{"fr":"","en":"Physically yes, but the buyer could enforce its rights to this specific floor: the restriction is substantive.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Is the enforceable right to payment established?","es":""},"explanation":{"fr":"","en":"The right must allow, at all times, compensation approximating the selling price of performance completed (for example costs plus a reasonable margin), in the light of the contract and the applicable law (IFRS 15, paras. 37, B9 and B12). Here, the legal opinion gives nothing beyond this lump sum.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, since Lanvelec receives a termination indemnity","es":""},"correct":false,"feedback":{"fr":"","en":"A fixed 5% lump sum, unrelated to progress, does not compensate, at all times, performance completed at its selling price.","es":""}},{"id":"B","text":{"fr":"","en":"No: the compensation does not approximate the selling price of performance completed to date","es":""},"correct":true}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"What conclusion for revenue recognition?","es":""},"explanation":{"fr":"","en":"With no criterion met, the obligation is satisfied at a point in time (IFRS 15, paras. 32 and 35).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Over time, based on the progress of the works","es":""},"correct":false,"feedback":{"fr":"","en":"None of the three criteria is met: criterion (c) requires both of its limbs.","es":""}},{"id":"B","text":{"fr":"","en":"At a point in time, when the buyer obtains control of the floor","es":""},"correct":true}],"id":"P3","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000097","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"SOFTWARE","tested_point":"OVER_TIME_CRITERIA_SEQUENCE","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"example"},"references":["IFRS 15 §35","IFRS 15 §37","IFRS 15 §B4","IFRS 15 §B5","IFRS 15 §B8","IFRS 15 §B9"],"exercise":{"prompt":{"fr":"","en":"Apply the three-criteria grid to bespoke software development.","es":""},"explanation":{"fr":"","en":"(a) and (b) fail, but criterion (c) is met in both limbs: revenue is recognised over time (IFRS 15, paras. 35, 37, B8 and B9). The contract margin is here, as a case assumption, a reasonable margin.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The software publisher Codalis is developing a credit-scoring engine for a mutual bank, designed from its data and internal rules, for 1,800,000 over 14 months. Case data: the code is developed and stored on Codalis's servers; the bank receives nothing before final delivery; the engine could not be sold to another customer without an almost complete redesign. If the bank terminates for a reason other than Codalis's failure to perform, the contract pays it, at all times, its costs incurred plus the margin set in the contract; a legal opinion confirms that the clause is enforceable.","es":""},"parts":[{"prompt":{"fr":"","en":"Criteria (a) and (b) are not met.","es":""},"explanation":{"fr":"","en":"True. A successor, without the code kept on Codalis's servers, would have to redo the work (IFRS 15, para. B4); the bank does not control the software under development (IFRS 15, para. B5).","es":""},"common_error":{"fr":"","en":"Concluding criterion (a) or (b) is met when a successor would have to redo the work and the bank does not control the software in progress.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Which facts support criterion (c)?","es":""},"explanation":{"fr":"","en":"Practical limitation (significant economic loss on redirection, IFRS 15, para. B8) and an enforceable right to compensation approximating the selling price (IFRS 15, paras. 37 and B9).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An almost complete redesign would be needed to sell the engine to another customer","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Compensation at all times equal to costs plus the contract margin, enforceable","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The 14-month contract duration","es":""},"correct":false,"feedback":{"fr":"","en":"Duration is not one of the criteria.","es":""}},{"id":"D","text":{"fr":"","en":"The storage of the code on Codalis's servers","es":""},"correct":false,"feedback":{"fr":"","en":"This fact explains why (a) and (b) fail; it proves neither the absence of alternative use nor the right to payment.","es":""}}],"id":"P2","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Conclusion?","es":""},"explanation":{"fr":"","en":"Any one of the three criteria is enough for recognition over time (IFRS 15, para. 35).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revenue recognised over time (criterion (c))","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Revenue recognised on final delivery","es":""},"correct":false,"feedback":{"fr":"","en":"One criterion is enough: criterion (c) is met.","es":""}}],"id":"P3","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000098","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TELECOM","tested_point":"SUCCESSOR_TEST","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"criterion-a"},"references":["IFRS 15 §B4"],"exercise":{"prompt":{"fr":"","en":"An engineering firm designs a telecom operator's antenna roll-out plan for 60 towns; each week, it hands over to the operator the final plans of the towns completed, usable by any installer. The contract contains an exclusivity clause. Is criterion (a) met?","es":""},"explanation":{"fr":"","en":"If another entity taking over the remaining performance would not need to substantially redo the work completed, the customer receives and consumes the benefits as the work is performed; contractual obstacles are disregarded for this test (IFRS 15, para. B4).","es":""},"common_error":{"fr":"","en":"Taking contractual exclusivity into account in the successor test.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No, because the exclusivity clause prevents changing engineering firm.","es":""},"correct":false,"feedback":{"fr":"","en":"The successor test disregards contractual obstacles to the transfer.","es":""}},{"id":"B","text":{"fr":"","en":"Yes, because a successor would start from the plans already handed over, without redoing the work completed.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No, because a study is never consumed as it is performed.","es":""},"correct":false,"feedback":{"fr":"","en":"It is not the 'study' nature that decides, but the result of the successor test.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000099","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"ENERGY","tested_point":"ALTERNATIVE_USE_TIMING","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"criterion-c-alternative-use"},"references":["IFRS 15 §36"],"exercise":{"prompt":{"fr":"","en":"A transformer manufacturer concluded at inception that a bespoke transformer had no alternative use. A year later, a new potential customer appears for this model, with no change to the contract. The manufacturer must revise its assessment at the reporting date and switch to recognition at a point in time.","es":""},"explanation":{"fr":"","en":"False. The absence of alternative use is assessed at contract inception and is revisited only for an approved modification that substantively changes the obligation (IFRS 15, para. 36).","es":""},"common_error":{"fr":"","en":"Reassessing alternative use at each reporting date like an ordinary estimate.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000100","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"RIGHT_TO_PAYMENT_ERRORS","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"criterion-c-right-to-payment"},"references":["IFRS 15 §37","IFRS 15 §B9","IFRS 15 §B12"],"exercise":{"prompt":{"fr":"","en":"An internal memo analyses the right to payment of a bespoke manufacturing contract. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"The right to payment is assessed in the light of the contract and the applicable law (IFRS 15, paras. 37 and B12); it concerns performance completed to date, at an amount approximating its selling price, on termination for reasons other than the entity's failure to perform (IFRS 15, paras. 37 and B9). An isolated waiver does not remove the right (IFRS 15, para. B12).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The right is established, because on termination the customer pays us the margin we would have earned on the rest of the contract.","es":""},"erroneous":true,"correction":{"fr":"","en":"Lost profit is not enough: the compensation must cover performance completed to date, at an amount approximating its selling price (IFRS 15, para. B9).","es":""}},{"id":"S2","text":{"fr":"","en":"We analyse the termination clause in the light of the contract and the applicable law.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"The country's courts systematically deprive this type of clause of effect, but since the clause is written, the right is enforceable.","es":""},"erroneous":true,"correction":{"fr":"","en":"Case law depriving similar clauses of effect makes the right unenforceable (IFRS 15, para. B12).","es":""}},{"id":"S4","text":{"fr":"","en":"We once waived, for commercial reasons, claiming the compensation from a customer; the right remains enforceable in this contract.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"The right exists only if the customer must pay us on termination, including where termination is due to our own failure to perform.","es":""},"erroneous":true,"correction":{"fr":"","en":"Only termination by the customer or a third party for reasons other than the entity's failure to perform counts (IFRS 15, para. 37).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000101","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"RETAIL","tested_point":"CONTROL_DEFINITION","difficulty":"BEGINNER","estimated_time_s":75,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §31","IFRS 15 §33"],"exercise":{"prompt":{"fr":"","en":"A retailer wonders whether a customer has obtained control of a batch of televisions. Which elements belong to the definition of control?","es":""},"explanation":{"fr":"","en":"Control is the ability to direct the use of an asset and obtain substantially all of its remaining benefits, including the ability to prevent other entities from doing so (IFRS 15, para. 33); revenue follows its transfer (IFRS 15, para. 31).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The customer's ability to direct the use of the televisions","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The ability to obtain substantially all of their remaining benefits","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The ability to prevent other entities from directing their use and obtaining their benefits","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The issuing of an invoice by the retailer","es":""},"correct":false,"feedback":{"fr":"","en":"The invoice may be an indicator, but it is not part of the definition of control.","es":""}},{"id":"E","text":{"fr":"","en":"Full payment of the price by the customer","es":""},"correct":false,"feedback":{"fr":"","en":"Control can pass before or after payment: cash receipt is not the criterion.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000102","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RECOGNITION","format":"MATCHING","context":"GENERIC","tested_point":"OVER_TIME_EVIDENCE_TO_CRITERION","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"how"},"references":["IFRS 15 §35","IFRS 15 §B4","IFRS 15 §B5","IFRS 15 §B8","IFRS 15 §B9"],"exercise":{"prompt":{"fr":"","en":"Match each piece of evidence gathered in a file with the criterion (or limb of a criterion) it helps to demonstrate.","es":""},"explanation":{"fr":"","en":"Each piece of evidence supports one of the criteria for recognition over time (IFRS 15, para. 35). Successor test (IFRS 15, para. B4); customer control of the asset under creation (IFRS 15, para. B5); practical limitation through significant economic loss (IFRS 15, para. B8); compensation approximating the selling price, enforceable (IFRS 15, para. B9). What counts as 'significant' is a matter of judgement.","es":""},"common_error":{"fr":"","en":"Linking evidence to the wrong criterion, e.g. the conversion quote to criterion (b): it shows no alternative use under criterion (c).","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Analysis showing that a new provider would start from the point reached without redoing anything","es":""}},{"id":"L2","text":{"fr":"","en":"Clause transferring ownership of work in progress to the customer as it progresses","es":""}},{"id":"L3","text":{"fr":"","en":"Quote putting the cost of converting the asset for another customer at 70% of its selling price","es":""}},{"id":"L4","text":{"fr":"","en":"Legal opinion confirming the enforceability of termination compensation equal to costs plus a reasonable margin","es":""}}],"right":[{"id":"R1","text":{"fr":"","en":"Criterion (a): simultaneous consumption","es":""}},{"id":"R2","text":{"fr":"","en":"Criterion (b): asset controlled by the customer","es":""}},{"id":"R3","text":{"fr":"","en":"Criterion (c): no alternative use","es":""}},{"id":"R4","text":{"fr":"","en":"Criterion (c): enforceable right to payment","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"},{"left":"L4","right":"R4"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000103","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"COST_TO_COST_PROGRESS","difficulty":"BEGINNER","estimated_time_s":120,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"input-methods"},"references":["IFRS 15 §39","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Viadex is building a footbridge for a metropolitan authority; the performance obligation is satisfied over time and Viadex measures progress using costs incurred (a method chosen by the entity, not imposed by the standard). Case data at the end of the first year are shown below. Calculate.","es":""},"explanation":{"fr":"","en":"Progress = costs incurred ÷ total expected costs = 405,000 ÷ 1,350,000 = 30% (IFRS 15, para. B18). Revenue = 30% × 1,800,000 = 540,000; margin = 540,000 − 405,000 = 135,000. Revenue depicts the performance transferred to the customer (IFRS 15, para. 39).","es":""},"common_error":{"fr":"","en":"Dividing costs incurred by the price (405,000 ÷ 1,800,000 = 22.5%) instead of by total expected costs.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed transaction price","es":""},"value":"1800000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs","es":""},"value":"1350000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at the reporting date","es":""},"value":"405000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Progress (in %)","es":""},"answer":30,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Revenue for the first year","es":""},"answer":540000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Margin for the first year","es":""},"answer":135000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Progress (in %)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs incurred at the reporting date","es":""},"value":405000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total expected costs","es":""},"value":1350000,"unit":"EUR"}],"result":30,"unit":"PERCENT","rationale":{"fr":"","en":"Progress = costs incurred ÷ total expected costs = 405,000 ÷ 1,350,000 = 30% (IFRS 15, para. B18).","es":""}},{"step":"S2","meaning":{"fr":"","en":"Revenue for the first year","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Progress (in %)","es":""},"value":30,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Fixed transaction price","es":""},"value":1800000,"unit":"EUR"}],"result":540000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Margin for the first year","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revenue for the first year","es":""},"value":540000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Costs incurred at the reporting date","es":""},"value":405000,"unit":"EUR"}],"result":135000,"unit":"EUR"}],"references":["REF.IFRS15.39","REF.IFRS15.B18"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000104","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"PROGRESS_ESTIMATE_REVISION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"revisions"},"references":["IFRS 15","IFRS 15 §43","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"An installer is building a solar farm for an electricity producer; the performance obligation is satisfied over time and progress is measured using costs incurred (a method chosen by the entity). In the second year, total expected costs are revised upwards. Case data are shown below. Calculate.","es":""},"explanation":{"fr":"","en":"Input method: costs incurred relative to total expected costs (IFRS 15, para. B18). Year 1: 2,160,000 ÷ 7,200,000 = 30%; revenue 30% × 9,600,000 = 2,880,000. Year 2: progress recalculated with the updated estimate, 5,200,000 ÷ 8,000,000 = 65%; cumulative revenue 6,240,000; year 2 revenue = 6,240,000 − 2,880,000 = 3,360,000. The revision is a change in accounting estimate: year 1 is not restated (IFRS 15, paras. 40 and 43).","es":""},"common_error":{"fr":"","en":"Keeping the original estimate (5,200,000 ÷ 7,200,000 ≈ 72.2%) or computing year 2 revenue from that year's costs alone, without going through the cumulative amount.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed transaction price","es":""},"value":"9600000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs — end of year 1","es":""},"value":"7200000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative costs incurred — end of year 1","es":""},"value":"2160000","unit":"EUR"},{"label":{"fr":"","en":"Revised total expected costs — end of year 2","es":""},"value":"8000000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative costs incurred — end of year 2","es":""},"value":"5200000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Progress at end of year 1 (in %)","es":""},"answer":30,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Revenue for year 1","es":""},"answer":2880000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Cumulative progress at end of year 2 (in %)","es":""},"answer":65,"tolerance":0,"unit":"PERCENT"},{"id":"S4","label":{"fr":"","en":"Revenue for year 2","es":""},"answer":3360000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Progress at end of year 1 (in %)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative costs incurred — end of year 1","es":""},"value":2160000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total expected costs — end of year 1","es":""},"value":7200000,"unit":"EUR"}],"result":30,"unit":"PERCENT"},{"step":"S2","meaning":{"fr":"","en":"Revenue for year 1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Progress at end of year 1 (in %)","es":""},"value":30,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Fixed transaction price","es":""},"value":9600000,"unit":"EUR"}],"result":2880000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Cumulative progress at end of year 2 (in %)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative costs incurred — end of year 2","es":""},"value":5200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised total expected costs — end of year 2","es":""},"value":8000000,"unit":"EUR"}],"result":65,"unit":"PERCENT"}],"references":["REF.IFRS15.40","REF.IFRS15.43","REF.IFRS15.B18"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000105","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","format":"CALCULATION","context":"SOFTWARE","tested_point":"WASTE_EXCLUDED_FROM_PROGRESS","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"excluded-inputs"},"references":["IFRS 15 §B19"],"exercise":{"prompt":{"fr":"","en":"A software company is developing a claims management platform for an insurer; the performance obligation is satisfied over time and progress is measured using costs incurred (a method chosen by the entity). During the year, an unexpected configuration error, significant in amount and not reflected in the price, required a module to be rewritten. Case data are shown below. Calculate.","es":""},"explanation":{"fr":"","en":"Costs of significant inefficiencies not reflected in the price do not depict performance: they are excluded from the measure (IFRS 15, para. B19). Costs used 720,000 − 120,000 = 600,000; progress 600,000 ÷ 1,600,000 = 37.5%; revenue 37.5% × 2,400,000 = 900,000. Without the exclusion, progress would have been 45% and revenue 1,080,000, i.e. overstated by 180,000. The 120,000 remains an expense of the period.","es":""},"common_error":{"fr":"","en":"Including the rewrite in costs incurred (720,000 ÷ 1,600,000 = 45%), which inflates progress and margin.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed transaction price","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs to fulfil the contract (excluding waste)","es":""},"value":"1600000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at the reporting date, including the rewrite","es":""},"value":"720000","unit":"EUR"},{"label":{"fr":"","en":"Of which cost of the rewrite (unexpected waste)","es":""},"value":"120000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Costs used to measure progress","es":""},"answer":600000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Progress (in %)","es":""},"answer":37.5,"tolerance":0,"unit":"PERCENT"},{"id":"S3","label":{"fr":"","en":"Revenue for the period","es":""},"answer":900000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Costs used to measure progress","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs incurred at the reporting date, including the rewrite","es":""},"value":720000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Of which cost of the rewrite (unexpected waste)","es":""},"value":120000,"unit":"EUR"}],"result":600000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Progress (in %)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs used to measure progress","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total expected costs to fulfil the contract (excluding waste)","es":""},"value":1600000,"unit":"EUR"}],"result":37.5,"unit":"PERCENT"},{"step":"S3","meaning":{"fr":"","en":"Revenue for the period","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Progress (in %)","es":""},"value":37.5,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Fixed transaction price","es":""},"value":2400000,"unit":"EUR"}],"result":900000,"unit":"EUR"}],"rationale":{"fr":"","en":"Costs of significant inefficiencies not reflected in the price do not depict performance: they are excluded from the measure (IFRS 15, para. B19).","es":""},"references":["REF.IFRS15.B19"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000106","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","format":"CALCULATION","context":"TELECOM","tested_point":"UNINSTALLED_GOODS_AT_COST","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"excluded-inputs"},"references":["IFRS 15","IFRS 15 §B19"],"exercise":{"prompt":{"fr":"","en":"An integrator is deploying a fibre-optic network node for a telecom operator; the single performance obligation is satisfied over time and progress is measured using costs incurred (a method chosen by the entity). An optical switching unit bought from a third-party manufacturer was delivered to the operator's site at year-end; it will only be installed next year. Case data: the customer obtains control of the equipment on delivery, and the four conditions in para. B19 (good not distinct, control obtained well before the related services, significant cost, bought from a third party without significant involvement in its design or manufacture) are deemed met. Calculate.","es":""},"explanation":{"fr":"","en":"As the customer obtains control of the equipment on delivery, it is included in measuring the satisfaction of the obligation (IFRS 15, para. 42). But the cost of the equipment is not proportionate to progress: it is excluded from the measure and gives revenue equal to its cost, with no margin (IFRS 15, para. B19). Progress: 540,000 ÷ (2,400,000 − 600,000) = 30%. Revenue: 600,000 + 30% × (3,000,000 − 600,000) = 600,000 + 720,000 = 1,320,000; costs recognised 1,140,000. Meeting the four conditions is case data here; in practice, each one is analysed and documented.","es":""},"common_error":{"fr":"","en":"Computing (600,000 + 540,000) ÷ 2,400,000 = 47.5% and revenue of 1,425,000, which attributes a margin to equipment that has merely been delivered.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed transaction price","es":""},"value":"3000000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs, including the equipment","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Cost of the switching unit","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Other costs incurred at the reporting date","es":""},"value":"540000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Progress excluding the equipment (in %)","es":""},"answer":30,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Revenue for the equipment","es":""},"answer":600000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Revenue for the rest of the performance","es":""},"answer":720000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Total revenue for the period","es":""},"answer":1320000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Progress excluding the equipment (in %)","es":""},"expression":"a / (b - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Other costs incurred at the reporting date","es":""},"value":540000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total expected costs, including the equipment","es":""},"value":2400000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Cost of the switching unit","es":""},"value":600000,"unit":"EUR"}],"result":30,"unit":"PERCENT"},{"step":"S4","meaning":{"fr":"","en":"Total revenue for the period","es":""},"expression":"a + b * (c - a)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cost of the switching unit","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Progress excluding the equipment (in %)","es":""},"value":30,"unit":"PERCENT"},{"symbol":"c","meaning":{"fr":"","en":"Fixed transaction price","es":""},"value":3000000,"unit":"EUR"}],"result":1320000,"unit":"EUR"}],"rationale":{"fr":"","en":"As the customer obtains control of the equipment on delivery, it is included in measuring the satisfaction of the obligation (IFRS 15, para. 42).","es":""},"references":["REF.IFRS15.42","REF.IFRS15.B19"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000107","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"REVENUE_LIMITED_TO_RECOVERABLE_COSTS","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"cannot-measure"},"references":["IFRS 15 §43","IFRS 15 §44","IFRS 15 §45"],"exercise":{"prompt":{"fr":"","en":"An entity starts a contract to refurbish an industrial site; the performance obligation is satisfied over time. Case data: at the end of year 1, because the technical studies are not complete, it cannot yet reasonably estimate its total costs, but it expects to recover the costs incurred. At the end of year 2, the estimate becomes reliable and progress is measured using costs incurred (a method chosen by the entity). Calculate.","es":""},"explanation":{"fr":"","en":"Year 1: the outcome cannot be measured but the costs are recoverable, so revenue is limited to the costs incurred, i.e. 180,000, with no margin (IFRS 15, paras. 44 and 45). Year 2: progress 480,000 ÷ 1,200,000 = 40%; cumulative revenue 40% × 1,500,000 = 600,000; year 2 revenue = 600,000 − 180,000 = 420,000. The update of the measure goes through the current year (IFRS 15, para. 43).","es":""},"common_error":{"fr":"","en":"Recognising no revenue in year 1 or, conversely, applying an estimated margin without reliable information.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed transaction price","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred — year 1","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs — estimated at end of year 2","es":""},"value":"1200000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative costs incurred — end of year 2","es":""},"value":"480000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue for year 1","es":""},"answer":180000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Cumulative progress at end of year 2 (in %)","es":""},"answer":40,"tolerance":0,"unit":"PERCENT"},{"id":"S3","label":{"fr":"","en":"Revenue for year 2","es":""},"answer":420000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Cumulative progress at end of year 2 (in %)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative costs incurred — end of year 2","es":""},"value":480000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total expected costs — estimated at end of year 2","es":""},"value":1200000,"unit":"EUR"}],"result":40,"unit":"PERCENT"},{"step":"S3","meaning":{"fr":"","en":"Revenue for year 2","es":""},"expression":"(a * b) - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative progress at end of year 2 (in %)","es":""},"value":40,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Fixed transaction price","es":""},"value":1500000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Costs incurred — year 1","es":""},"value":180000,"unit":"EUR"}],"result":420000,"unit":"EUR"}],"references":["REF.IFRS15.43","REF.IFRS15.44","REF.IFRS15.45"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000108","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"CONSTRUCTION","tested_point":"PROGRESS_REVENUE_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"entry"},"references":["IFRS 15 §39","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Case data: Viadex is building a footbridge (fixed price 1,800,000; total expected costs 1,350,000); at the end of the first year, costs incurred amount to 405,000, all bought on credit, and progress measured by costs is 30%. No invoice has been issued yet. Record the first-year entries: revenue on a progress basis and contract costs.","es":""},"explanation":{"fr":"","en":"Revenue = 30% × 1,800,000 = 540,000, recognised as the obligation is satisfied (IFRS 15, paras. 39 and B18). With no invoice, the other side is a contract asset, not a receivable. Costs incurred (405,000) go to cost of sales. Total debits = total credits = 945,000.","es":""},"common_error":{"fr":"","en":"Debiting a trade receivable when nothing has been invoiced yet, or recognising revenue equal to the costs incurred (405,000).","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"COST_OF_SALES","text":{"fr":"","en":"Cost of sales (contract costs)","es":""}},{"id":"PAYABLES","text":{"fr":"","en":"Trade payables","es":""}},{"id":"INVENTORIES","text":{"fr":"","en":"Inventories","es":""}}],"lines":[{"id":"L1","account":"CONTRACT_ASSET","side":"DEBIT","amount":540000},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":540000},{"id":"L3","account":"COST_OF_SALES","side":"DEBIT","amount":405000},{"id":"L4","account":"PAYABLES","side":"CREDIT","amount":405000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000109","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"SOFTWARE","tested_point":"WASTE_EXPENSED_NOT_IN_REVENUE","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"entry"},"references":["IFRS 15 §B19"],"exercise":{"prompt":{"fr":"","en":"Case data: a software company is developing a platform for an insurer (fixed price 2,400,000; total expected costs excluding waste 1,600,000). At the reporting date, it has incurred 720,000 of costs, paid in cash, including 120,000 to rewrite a module after an unexpected, significant error not reflected in the price. No invoice has been issued. Record the entries for the period (revenue and costs).","es":""},"explanation":{"fr":"","en":"Progress: (720,000 − 120,000) ÷ 1,600,000 = 37.5%; revenue 37.5% × 2,400,000 = 900,000 (IFRS 15, para. B19). Waste is excluded from progress but not from expenses: the 720,000 of costs, including the rewrite, go to cost of sales. Total debits = total credits = 1,620,000.","es":""},"common_error":{"fr":"","en":"Capitalising the 120,000 rewrite or removing it from expenses on the grounds that it is excluded from progress.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"COST_OF_SALES","text":{"fr":"","en":"Cost of sales (contract costs)","es":""}},{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"CONTRACT_COST_ASSET","text":{"fr":"","en":"Contract cost asset","es":""}}],"lines":[{"id":"L1","account":"CONTRACT_ASSET","side":"DEBIT","amount":900000},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":900000},{"id":"L3","account":"COST_OF_SALES","side":"DEBIT","amount":720000},{"id":"L4","account":"CASH","side":"CREDIT","amount":720000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000110","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"OUTPUT_VS_INPUT_METHOD","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"output-methods"},"references":["IFRS 15","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Classify each measure of progress according to the family of methods it belongs to.","es":""},"explanation":{"fr":"","en":"Outputs directly measure the value to the customer of what has been transferred (surveys of work, results achieved, units delivered) (IFRS 15, para. B15); inputs measure the entity's efforts (resources consumed, machine hours, costs incurred) relative to the total expected (IFRS 15, para. B18). The choice reflects the nature of the performance (IFRS 15, para. 41).","es":""},"common_error":{"fr":"","en":"Classifying machine hours as outputs because they are measurable: they measure an effort, not value received.","es":""},"format":"CLASSIFICATION","categories":[{"id":"OUTPUT","text":{"fr":"","en":"Output method","es":""}},{"id":"INPUT","text":{"fr":"","en":"Input method","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Joint survey of metres of pipeline laid","es":""},"category":"OUTPUT"},{"id":"I2","text":{"fr":"","en":"Expert appraisal of results achieved","es":""},"category":"OUTPUT"},{"id":"I3","text":{"fr":"","en":"Number of dwellings delivered out of the total promised","es":""},"category":"OUTPUT"},{"id":"I4","text":{"fr":"","en":"Quantity of materials consumed compared with the total planned","es":""},"category":"INPUT"},{"id":"I5","text":{"fr":"","en":"Machine hours of the drilling rigs","es":""},"category":"INPUT"},{"id":"I6","text":{"fr":"","en":"Subcontracting costs incurred out of the total expected","es":""},"category":"INPUT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000111","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"MEDIA","tested_point":"RIGHT_TO_INVOICE_EXPEDIENT","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"right-to-invoice"},"references":["IFRS 15 §B16"],"exercise":{"prompt":{"fr":"","en":"A post-production studio has four contracts in progress. For which one may it, as a practical expedient, recognise revenue at the amount it has a right to invoice?","es":""},"explanation":{"fr":"","en":"The expedient is allowed only if the right to consideration corresponds directly to the value to the customer of the performance completed, such as a fixed hourly rate for hours of equal value (IFRS 15, para. B16). In the other contracts, the billable amount does not track the value transferred: a progress method is needed.","es":""},"common_error":{"fr":"","en":"Equating 'right to invoice' with 'invoices issued under the billing schedule'.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Colour grading billed at 110 per hour worked, each hour having the same value to the customer","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Editing of a documentary for a fixed fee of 90,000, billed 60% on signing and 40% on delivery","es":""},"correct":false,"feedback":{"fr":"","en":"The billing schedule does not track the value transferred: 60% is billed before any work.","es":""}},{"id":"C","text":{"fr":"","en":"Subtitling billed at 150 per hour for the first ten hours then 40 per hour, although every hour has the same value to the customer","es":""},"correct":false,"feedback":{"fr":"","en":"The billable amount does not correspond directly to the value received: the first hours are overbilled.","es":""}},{"id":"D","text":{"fr":"","en":"Mixing of a feature film billed in three milestones of equal amounts, although the first milestone represents most of the work","es":""},"correct":false,"feedback":{"fr":"","en":"Equal milestones do not reflect unequal performance: billing does not directly measure the value transferred.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000112","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"CONSTRUCTION","tested_point":"PROGRESS_CALCULATION_ERRORS","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"pitfalls"},"references":["IFRS 15","IFRS 15 §43","IFRS 15 §B16","IFRS 15 §B18","IFRS 15 §B19"],"exercise":{"prompt":{"fr":"","en":"The management accountant of a civil engineering company describes how progress is calculated using costs. Identify the incorrect statements.","es":""},"explanation":{"fr":"","en":"Progress = costs incurred ÷ total expected costs, updated at each reporting date and applied consistently (IFRS 15, paras. 40 and B18); revisions are prospective (IFRS 15, para. 43); unexpected waste is excluded from the measure (IFRS 15, para. B19).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"We divide costs incurred to date by the contract price.","es":""},"erroneous":true,"correction":{"fr":"","en":"Progress compares costs incurred with total expected costs, not with the price (IFRS 15, para. B18).","es":""}},{"id":"S2","text":{"fr":"","en":"At each reporting date, we update total expected costs.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"After this year's increase in expected costs, we restated last year's revenue.","es":""},"erroneous":true,"correction":{"fr":"","en":"The revision is a change in accounting estimate: its effect goes through the current period, without restatement (IFRS 15, para. 43).","es":""}},{"id":"S4","text":{"fr":"","en":"The concrete poured twice after an unexpected mixing error is included in costs incurred for progress.","es":""},"erroneous":true,"correction":{"fr":"","en":"Significant waste not reflected in the price does not depict performance: it is excluded from progress, while remaining an expense (IFRS 15, para. B19).","es":""}},{"id":"S5","text":{"fr":"","en":"We apply the same method to all our similar civil engineering works.","es":""},"erroneous":false},{"id":"S6","text":{"fr":"","en":"To save time, we take as progress the percentage of the price already billed under the schedule.","es":""},"erroneous":true,"correction":{"fr":"","en":"The billing schedule does not measure performance; only the expedient in para. B16 uses the billable amount, and only if it corresponds directly to the value transferred (IFRS 15, paras. B16 and B18).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000113","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"ERROR_SPOT","context":"TELECOM","tested_point":"PROGRESS_METHOD_SELECTION_ERRORS","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"judgment"},"references":["IFRS 15 §39","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"An infrastructure operator builds networks for local authorities and then maintains them. Its accounting policy note on measuring progress contains the following statements. Identify the incorrect ones.","es":""},"explanation":{"fr":"","en":"The choice of method serves the objective of faithfully depicting performance, obligation by obligation, and reflects its nature (IFRS 15, paras. 39 to 41); it is applied consistently (IFRS 15, para. 40). An output must capture all the performance (IFRS 15, para. B15); where information on outputs is not available without undue cost, an input method may be necessary (IFRS 15, para. B17).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"This year, we are switching from costs incurred to milestones reached, because milestones give higher revenue.","es":""},"erroneous":true,"correction":{"fr":"","en":"One method per obligation, applied consistently; the choice aims to depict performance, not to improve profit (IFRS 15, paras. 39 and 40).","es":""}},{"id":"S2","text":{"fr":"","en":"For two similar construction contracts, we use the same method.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"We count the sections put into service, even if significant work in progress, already controlled by the customer, has not yet been put into service.","es":""},"erroneous":true,"correction":{"fr":"","en":"An output that omits significant work in progress controlled by the customer does not faithfully depict performance (IFRS 15, para. B15).","es":""}},{"id":"S4","text":{"fr":"","en":"Surveys of work are not available without undue cost; we therefore measure progress using costs incurred.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"As each local authority signs a single contract, we measure a single overall progress, combining construction and maintenance, although they are two performance obligations.","es":""},"erroneous":true,"correction":{"fr":"","en":"Progress is measured for each performance obligation satisfied over time, using a method suited to the nature of each performance (IFRS 15, paras. 39, 40 and 41).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000114","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"ENERGY","tested_point":"PROGRESS_MEASUREMENT_FULL_ANALYSIS","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"judgment"},"references":["IFRS 15","IFRS 15 §43","IFRS 15 §B18","IFRS 15 §B19"],"exercise":{"prompt":{"fr":"","en":"Choose a method for measuring progress, then calculate the revenue for two periods.","es":""},"explanation":{"fr":"","en":"Method: costs incurred, because the output 'turbines back in service' would omit significant work controlled by the customer (IFRS 15, paras. 40, 41 and B15). Revenue: 1,320,000 in year 1 after excluding the waste (IFRS 15, para. B19), then 1,760,000 in year 2 after the revision, without restatement (IFRS 15, para. 43).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Éolia Services is refurbishing the four turbines of a hydroelectric plant for its operator, for a fixed price of 4,400,000. Case data: the work takes place on the operator's site, and the operator controls the turbines while they are being refurbished; the single performance obligation is satisfied over time. The turbines are put back into service one by one, but the first will only be back in service during year 2, although substantial work is carried out from year 1. Year 1: costs incurred 1,050,000, including 90,000 of parts destroyed during an unexpected handling incident, significant and not reflected in the price; total expected costs excluding waste 3,200,000. Year 2: cumulative costs used (excluding waste) 2,310,000; total expected costs revised to 3,300,000.","es":""},"parts":[{"prompt":{"fr":"","en":"Which method best depicts performance?","es":""},"explanation":{"fr":"","en":"An output that omits significant work in progress controlled by the customer does not faithfully depict performance (IFRS 15, para. B15); costs incurred, excluding inefficiencies, here track the effort that transfers control (IFRS 15, paras. 41 and B18). This choice is a documented judgement, not an imposed method.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The number of turbines put back into service out of four","es":""},"correct":false,"feedback":{"fr":"","en":"This output would show 0% in year 1 although significant work, controlled by the customer, has been performed.","es":""}},{"id":"B","text":{"fr":"","en":"Costs incurred, excluding waste, relative to total expected costs","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The amount billed under the contractual schedule","es":""},"correct":false,"feedback":{"fr":"","en":"The schedule does not measure the value transferred; nothing indicates that the hourly-rate expedient applies.","es":""}}],"id":"P1","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Year 1: calculate using the cost method.","es":""},"explanation":{"fr":"","en":"(1,050,000 − 90,000) ÷ 3,200,000 = 30%; 30% × 4,400,000 = 1,320,000. The waste is excluded from progress (IFRS 15, para. B19) but remains an expense.","es":""},"common_error":{"fr":"","en":"Including the unexpected waste in the costs used: it would inflate progress without reflecting performance.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"4400000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred in year 1","es":""},"value":"1050000","unit":"EUR"},{"label":{"fr":"","en":"Of which unexpected waste","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs excluding waste","es":""},"value":"3200000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Costs used","es":""},"answer":960000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Progress (in %)","es":""},"answer":30,"tolerance":0,"unit":"PERCENT"},{"id":"S3","label":{"fr":"","en":"Revenue for year 1","es":""},"answer":1320000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Progress (in %)","es":""},"expression":"(a - b) / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs incurred in year 1","es":""},"value":1050000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Of which unexpected waste","es":""},"value":90000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Total expected costs excluding waste","es":""},"value":3200000,"unit":"EUR"}],"result":30,"unit":"PERCENT"},{"step":"S3","meaning":{"fr":"","en":"Revenue for year 1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Progress (in %)","es":""},"value":30,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Transaction price","es":""},"value":4400000,"unit":"EUR"}],"result":1320000,"unit":"EUR"}],"references":["REF.IFRS15.B19"]}},{"prompt":{"fr":"","en":"Year 2: calculate after the revision of expected costs.","es":""},"explanation":{"fr":"","en":"2,310,000 ÷ 3,300,000 = 70%; cumulative revenue 70% × 4,400,000 = 3,080,000; year 2 revenue = 3,080,000 − 1,320,000 = 1,760,000 (IFRS 15, para. 43).","es":""},"common_error":{"fr":"","en":"Applying the year's progress to the total price, or keeping the old cost budget after it is revised.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cumulative costs used at end of year 2","es":""},"value":"2310000","unit":"EUR"},{"label":{"fr":"","en":"Revised total expected costs","es":""},"value":"3300000","unit":"EUR"},{"label":{"fr":"","en":"Revenue recognised in year 1","es":""},"value":"1320000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Cumulative progress (in %)","es":""},"answer":70,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Cumulative revenue","es":""},"answer":3080000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Revenue for year 2","es":""},"answer":1760000,"tolerance":0,"unit":"EUR"}],"id":"P3","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Cumulative progress (in %)","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative costs used at end of year 2","es":""},"value":2310000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revised total expected costs","es":""},"value":3300000,"unit":"EUR"}],"result":70,"unit":"PERCENT"},{"step":"S3","meaning":{"fr":"","en":"Revenue for year 2","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative revenue","es":""},"value":3080000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue recognised in year 1","es":""},"value":1320000,"unit":"EUR"}],"result":1760000,"unit":"EUR"}],"references":["REF.IFRS15.43"]}},{"prompt":{"fr":"","en":"The revision of expected costs in year 2 requires year 1 revenue to be restated.","es":""},"explanation":{"fr":"","en":"False. Updating progress is a change in accounting estimate: its effect is taken in year 2 (IFRS 15, para. 43).","es":""},"common_error":{"fr":"","en":"Restating year 1 after a cost revision: updating progress is a change in estimate, taken in year 2.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P4","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000115","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"CONSTRUCTION","tested_point":"SINGLE_METHOD_PER_OBLIGATION","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Case data: a civil engineering contract comprises two distinct performance obligations, both satisfied over time: engineering studies, whose progress is measured by milestones approved by the customer, and the construction of a structure, whose progress is measured by costs incurred. True or false: using two different methods in this contract is consistent with IFRS 15.","es":""},"explanation":{"fr":"","en":"True. The rule is to apply a single method to each performance obligation satisfied over time (IFRS 15, para. 40). As the studies and the construction are here two distinct obligations (case data), each may have its own method. Combining two methods within a single obligation would, however, be prohibited.","es":""},"common_error":{"fr":"","en":"Believing that a contract requires a single method, whereas the rule applies obligation by obligation.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000116","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"APPLICATION","format":"ORDERING","context":"GENERIC","tested_point":"PROGRESS_REVENUE_STEPS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000011","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"how"},"references":["IFRS 15","IFRS 15 §43","IFRS 15 §45","IFRS 15 §B19"],"exercise":{"prompt":{"fr":"","en":"Put in order the approach for recognising revenue on a performance obligation satisfied over time, at a reporting date.","es":""},"explanation":{"fr":"","en":"Single, suitable method (IFRS 15, paras. 40 and 41); updated measure, excluding unrepresentative inputs (IFRS 15, paras. 43 and B19); cumulative amount, or limit to recoverable costs (IFRS 15, para. 45); revenue for the period by difference; recording.","es":""},"common_error":{"fr":"","en":"Recognising cumulative revenue as the period's revenue without deducting what was already recognised.","es":""},"format":"ORDERING","steps":[{"id":"S1","text":{"fr":"","en":"Select a single method for the obligation (outputs or inputs) that depicts performance","es":""}},{"id":"S2","text":{"fr":"","en":"Measure at the reporting date the inputs or outputs to date and the updated expected total, excluding inputs that do not depict performance","es":""}},{"id":"S3","text":{"fr":"","en":"Calculate cumulative progress and cumulative revenue (or, if the outcome cannot be measured, revenue equal to recoverable costs)","es":""}},{"id":"S4","text":{"fr":"","en":"Derive the revenue for the period: cumulative revenue less revenue already recognised","es":""}},{"id":"S5","text":{"fr":"","en":"Record the revenue for the period and the related costs","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000117","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MANUFACTURING","tested_point":"POINT_IN_TIME_INDICATORS_DIRECTION","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38"],"exercise":{"prompt":{"fr":"","en":"A pump manufacturer sells standard pumps to an irrigation network. For each fact, indicate whether it points towards or against a transfer of control to the customer at that date (indicators in para. 38, read together).","es":""},"explanation":{"fr":"","en":"A present right to payment, the transfer of significant risks and rewards and customer acceptance are indicators of transfer; possession and title retained by the seller, with the ability to serve other customers, indicate that it retains control (IFRS 15, para. 38). No indicator is decisive on its own: the conclusion rests on reading them together.","es":""},"common_error":{"fr":"","en":"Concluding on a single indicator: the conclusion rests on reading them together.","es":""},"format":"CLASSIFICATION","categories":[{"id":"FOR","text":{"fr":"","en":"Points towards transfer","es":""}},{"id":"AGAINST","text":{"fr":"","en":"Points against transfer","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"The invoice is payable on delivery, which has taken place","es":""},"category":"FOR"},{"id":"I2","text":{"fr":"","en":"The customer has borne the risk of loss since the pumps were collected","es":""},"category":"FOR"},{"id":"I3","text":{"fr":"","en":"The customer has signed the acceptance certificate","es":""},"category":"FOR"},{"id":"I4","text":{"fr":"","en":"The pumps are still in the manufacturer's warehouse, and it can deliver them to other customers","es":""},"category":"AGAINST"},{"id":"I5","text":{"fr":"","en":"Legal title remains with the manufacturer and the customer has no access to the pumps yet","es":""},"category":"AGAINST"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000118","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"GENERIC","tested_point":"REPURCHASE_FORM_TO_TREATMENT","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"how"},"references":["IFRS 15 §B66","IFRS 15","IFRS 15 §B73","IFRS 15 §B74"],"exercise":{"prompt":{"fr":"","en":"An asset is sold for 100,000. Case data: the effect of the time value of money is judged not significant; 'significant incentive' is the conclusion of the analysis performed at inception. Classify each arrangement according to its accounting treatment.","es":""},"explanation":{"fr":"","en":"Forward or call option: lease if the repurchase price is lower than the original price, financing if it is equal or higher (IFRS 15, para. B66). Put option at a lower price: lease if there is a significant incentive, assessed in particular against the expected market value (IFRS 15, paras. B70 and B71), otherwise a sale with a right of return (IFRS 15, para. B72). Put option at an equal or higher price: financing if the price exceeds the expected market value (IFRS 15, para. B73); sale with a right of return if it does not and there is no significant incentive (IFRS 15, para. B74).","es":""},"common_error":{"fr":"","en":"Applying the forward grid to the put option, or forgetting to compare the repurchase price with the expected market value.","es":""},"format":"CLASSIFICATION","categories":[{"id":"LEASE","text":{"fr":"","en":"Lease (IFRS 16)","es":""}},{"id":"FINANCING","text":{"fr":"","en":"Financing arrangement","es":""}},{"id":"RETURN","text":{"fr":"","en":"Sale with a right of return","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Obligation for the seller to repurchase the asset for 90,000 in one year","es":""},"category":"LEASE"},{"id":"I2","text":{"fr":"","en":"Right for the seller to repurchase the asset for 108,000","es":""},"category":"FINANCING"},{"id":"I3","text":{"fr":"","en":"Customer put option at 80,000; expected market value 50,000; significant incentive","es":""},"category":"LEASE"},{"id":"I4","text":{"fr":"","en":"Customer put option at 80,000; expected market value 95,000; no significant incentive","es":""},"category":"RETURN"},{"id":"I5","text":{"fr":"","en":"Customer put option at 105,000; expected market value 90,000","es":""},"category":"FINANCING"},{"id":"I6","text":{"fr":"","en":"Customer put option at 105,000; expected market value 120,000; no significant incentive","es":""},"category":"RETURN"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000119","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"CALCULATION","format":"CALCULATION","context":"ENERGY","tested_point":"REPURCHASE_FINANCING_INTEREST","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"forward-and-call"},"references":["IFRS 15 §B66","IFRS 15 §B68"],"exercise":{"prompt":{"fr":"","en":"A manufacturer sells a mobile gas turbine to an operator on 1 January N for 800,000 and undertakes to repurchase it for 882,000 on 31 December N+1. Case data: no holding costs; the difference is entirely interest, allocated at the implicit rate of 5% a year (teaching assumption for the allocation). Calculate.","es":""},"explanation":{"fr":"","en":"Obligation to repurchase at a price above the selling price: financing arrangement (IFRS 15, para. B66). The turbine stays on the balance sheet; a financial liability of 800,000 is recognised and the 82,000 difference is interest (IFRS 15, para. B68): 800,000 × 5% = 40,000 in N (liability 840,000), 840,000 × 5% = 42,000 in N+1 (liability 882,000). No revenue is recognised.","es":""},"common_error":{"fr":"","en":"Recognising revenue of 800,000 in N, then a purchase of 882,000 in N+1.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Selling price received","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Repurchase price","es":""},"value":"882000","unit":"EUR"},{"label":{"fr":"","en":"Implicit rate","es":""},"value":"5","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Total interest expense over the two years","es":""},"answer":82000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Interest expense for N","es":""},"answer":40000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Financial liability at 31 December N","es":""},"answer":840000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Interest expense for N+1","es":""},"answer":42000,"tolerance":0,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"Revenue recognised in N","es":""},"answer":0,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Interest expense for N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Selling price received","es":""},"value":800000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Implicit rate","es":""},"value":5,"unit":"PERCENT"}],"result":40000,"unit":"EUR"}],"rationale":{"fr":"","en":"Obligation to repurchase at a price above the selling price: financing arrangement (IFRS 15, para. B66).","es":""},"references":["REF.IFRS15.B66","REF.IFRS15.B68"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000120","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"AGRICULTURE","tested_point":"REPURCHASE_FORWARD_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"entry"},"references":["IFRS 15 §B66","IFRS 15 §B68"],"exercise":{"prompt":{"fr":"","en":"Case data: on 1 January N, an agricultural machinery manufacturer sells a combine harvester for 250,000 to an agricultural contractor and undertakes to repurchase it for 265,000 on 31 December N (after the season). No holding costs. Record the entries for the year: receipt, interest, repurchase.","es":""},"explanation":{"fr":"","en":"Mandatory repurchase at a price above the selling price: financing arrangement (IFRS 15, para. B66). The harvester stays in inventories; the amount received is a financial liability and the 15,000 difference is interest expense (IFRS 15, para. B68). Total debits = total credits = 530,000; no revenue, no cost of sales.","es":""},"common_error":{"fr":"","en":"Recording a sale of 250,000 with derecognition of inventory, then a purchase of 265,000.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"FINANCIAL_LIABILITY","text":{"fr":"","en":"Financial liability (amount owed to the customer)","es":""}},{"id":"INTEREST_EXPENSE","text":{"fr":"","en":"Interest expense","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"COST_OF_SALES","text":{"fr":"","en":"Cost of sales","es":""}},{"id":"INVENTORIES","text":{"fr":"","en":"Inventories","es":""}}],"lines":[{"id":"L1","account":"CASH","side":"DEBIT","amount":250000},{"id":"L2","account":"FINANCIAL_LIABILITY","side":"CREDIT","amount":250000},{"id":"L3","account":"INTEREST_EXPENSE","side":"DEBIT","amount":15000},{"id":"L4","account":"FINANCIAL_LIABILITY","side":"CREDIT","amount":15000},{"id":"L5","account":"FINANCIAL_LIABILITY","side":"DEBIT","amount":265000},{"id":"L6","account":"CASH","side":"CREDIT","amount":265000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000121","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"AUTOMOTIVE","tested_point":"CONSIGNMENT_ANALYSIS","difficulty":"ADVANCED","estimated_time_s":360,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"consignment"},"references":["IFRS 15 §B77","IFRS 15 §B78"],"exercise":{"prompt":{"fr":"","en":"Analyse the delivery of motorcycles to a dealer at the reporting date.","es":""},"explanation":{"fr":"","en":"The indicators in para. B78 are present: consignment. No revenue on delivery (IFRS 15, para. B77); revenue arises as control passes (here, as case data, on resale): 108,000 in N, with 48 motorcycles remaining in inventories at 288,000.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The manufacturer Motavia delivers 60 motorcycles to a dealer on 15 December N. Case data: the dealer pays for a motorcycle, 9,000, only when it resells it to an end customer; it may return unsold motorcycles free of charge after six months; Motavia may at any time recall motorcycles to send them to another dealer. Production cost: 6,000 per motorcycle. At 31 December N, the dealer has resold 12 motorcycles; it is taken as case data that control of each motorcycle passes to the dealer when it resells it.","es":""},"parts":[{"prompt":{"fr":"","en":"Which facts are indicators of a consignment arrangement?","es":""},"explanation":{"fr":"","en":"Control retained until a specified event, the ability to require return or transfer to another third party, and no unconditional obligation to pay: these are the indicators of a consignment (IFRS 15, para. B78).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Motavia can recall the motorcycles to send them to another dealer","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The dealer only has to pay for a motorcycle if it resells it","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The motorcycles are physically at the dealer's premises","es":""},"correct":false,"feedback":{"fr":"","en":"Physical possession is common to a sale and a consignment: it does not distinguish between them.","es":""}},{"id":"D","text":{"fr":"","en":"Motavia retains control of the motorcycles until they are resold to an end customer","es":""},"correct":true}],"id":"P1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Calculate Motavia's amounts at 31 December N.","es":""},"explanation":{"fr":"","en":"Only the 12 motorcycles resold have changed control: revenue 12 × 9,000 = 108,000 and cost of sales 12 × 6,000 = 72,000. The other 48 remain in Motavia's inventories: 48 × 6,000 = 288,000 (IFRS 15, para. B77).","es":""},"common_error":{"fr":"","en":"Recognising revenue on all 60 bikes delivered: on consignment, only the bikes resold have changed control.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Motorcycles delivered","es":""},"value":"60","unit":"UNITS"},{"label":{"fr":"","en":"Motorcycles resold by the dealer","es":""},"value":"12","unit":"UNITS"},{"label":{"fr":"","en":"Price paid by the dealer, per motorcycle","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"Production cost, per motorcycle","es":""},"value":"6000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue for N","es":""},"answer":108000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Cost of sales for N","es":""},"answer":72000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Motorcycles remaining in Motavia's inventories (amount)","es":""},"answer":288000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Revenue for N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Motorcycles resold by the dealer","es":""},"value":12,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Price paid by the dealer, per motorcycle","es":""},"value":9000,"unit":"EUR"}],"result":108000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Cost of sales for N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Motorcycles resold by the dealer","es":""},"value":12,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Production cost, per motorcycle","es":""},"value":6000,"unit":"EUR"}],"result":72000,"unit":"EUR"}],"rationale":{"fr":"","en":"The other 48 remain in Motavia's inventories: 48 × 6,000 = 288,000 (IFRS 15, para. B77).","es":""},"references":["REF.IFRS15.B77"]}},{"prompt":{"fr":"","en":"Motavia should have recognised revenue of 540,000 on 15 December, when the 60 motorcycles were delivered.","es":""},"explanation":{"fr":"","en":"False. A product held on consignment gives rise to no revenue on delivery to the consignee (IFRS 15, para. B77).","es":""},"common_error":{"fr":"","en":"Treating delivery to the consignee as a sale: on consignment, control does not transfer on delivery.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000122","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD","IFRS15.SATISFACTION.POINT_IN_TIME"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"RETAIL","tested_point":"BILL_AND_HOLD_ANALYSIS","difficulty":"EXPERT","estimated_time_s":420,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"bill-and-hold"},"references":["IFRS 15 §38","IFRS 15","IFRS 15 §B81"],"exercise":{"prompt":{"fr":"","en":"Analyse a bill-and-hold arrangement for a store opening.","es":""},"explanation":{"fr":"","en":"Bill-and-hold arrangement meeting the four criteria (IFRS 15, paras. B79 to B81): display unit revenue of 174,000 on 1 March; custody service of 6,000 recognised at 1,500 a month from March to June (IFRS 15, para. B82). Without the prohibition on redirecting, no revenue before delivery.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"A shop-fitting manufacturer has produced 400 custom display units for a retail chain. As the store opening is delayed by building work, the chain asks in writing for the units to stay in the manufacturer's storage for four months, from March to June. Case data at 1 March: units finished and inspected, labelled with the chain's name, stored in a separate area; the contract prohibits the manufacturer from using them or delivering them to another customer. Price invoiced on 1 March: 180,000. Stand-alone selling prices: display units 174,000; four months' custody 6,000 (service judged distinct, case data).","es":""},"parts":[{"prompt":{"fr":"","en":"Can the manufacturer recognise revenue for the display units on 1 March, although it keeps them?","es":""},"explanation":{"fr":"","en":"In addition to the indicators in para. 38, the four criteria are met: substantive reason (customer's written request), separate identification, product ready, inability to use or redirect (IFRS 15, paras. 38, B80 and B81).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: as long as the units have not left its premises, control cannot be transferred","es":""},"correct":false,"feedback":{"fr":"","en":"The customer can obtain control while the entity keeps physical possession, if the criteria are met.","es":""}},{"id":"B","text":{"fr":"","en":"Yes: the written request, the identification, completion and the prohibition on using them meet the four criteria","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, as soon as an invoice has been issued","es":""},"correct":false,"feedback":{"fr":"","en":"The invoice is not enough: it is the four criteria, in addition to the indicators in para. 38, that support the conclusion.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate.","es":""},"explanation":{"fr":"","en":"The custody service is a separate obligation to which part of the price is allocated (IFRS 15, para. B82). Total stand-alone selling prices 174,000 + 6,000 = 180,000 = price: no discount to allocate. Custody, provided evenly (case assumption): 6,000 ÷ 4 = 1,500 a month; at 31 March, 6,000 − 1,500 = 4,500 remains as a contract liability.","es":""},"common_error":{"fr":"","en":"Recognising the whole price on 1 March: the custodial service is a separate obligation, recognised as it is provided.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Price invoiced","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the display units","es":""},"value":"174000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of custody (4 months)","es":""},"value":"6000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue for the display units at 1 March","es":""},"answer":174000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Monthly revenue from the custody service","es":""},"answer":1500,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Contract liability (custody) at 31 March","es":""},"answer":4500,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Monthly revenue from the custody service","es":""},"expression":"a / 4","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stand-alone selling price of custody (4 months)","es":""},"value":6000,"unit":"EUR"}],"result":1500,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Contract liability (custody) at 31 March","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stand-alone selling price of custody (4 months)","es":""},"value":6000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Monthly revenue from the custody service","es":""},"value":1500,"unit":"EUR"}],"result":4500,"unit":"EUR"}],"rationale":{"fr":"","en":"The custody service is a separate obligation to which part of the price is allocated (IFRS 15, para. B82).","es":""},"references":["REF.IFRS15.B82"]}},{"prompt":{"fr":"","en":"If the contract allowed the manufacturer to deliver these display units to another chain and make new ones later, revenue could still be recognised on 1 March.","es":""},"explanation":{"fr":"","en":"False. The entity must not be able to use the product or direct it to another customer; otherwise the customer has not obtained control of it (IFRS 15, para. B81).","es":""},"common_error":{"fr":"","en":"Recognising revenue when the seller can deliver the goods to another customer: the customer does not control them.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000123","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"AVIATION","tested_point":"PUT_OPTION_SIGNIFICANT_INCENTIVE","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"put-option"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A manufacturer sells a helicopter for 2,000,000 to an aerial work company. The customer may require the manufacturer to repurchase it for 1,500,000 at the end of the third year. Case data: the expected market value of the helicopter at that date is 1,100,000, and the analysis performed at inception concludes that the customer has a significant economic incentive to exercise its option. How is the arrangement accounted for?","es":""},"explanation":{"fr":"","en":"Repurchase price below the original price and a significant incentive — a repurchase price well above the expected market value is an indication of one (IFRS 15, para. B71): the customer is in substance paying for the right to use the helicopter for three years, so the arrangement is a lease under IFRS 16 (IFRS 15, para. B70). Without a significant incentive, it would be a sale with a right of return (IFRS 15, para. B72).","es":""},"common_error":{"fr":"","en":"Treating every put option as a sale with a right of return, without assessing the customer's incentive.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a sale with a right of return","es":""},"correct":false,"feedback":{"fr":"","en":"This treatment applies when the customer has no significant incentive to exercise its option.","es":""}},{"id":"B","text":{"fr":"","en":"As a financing arrangement","es":""},"correct":false,"feedback":{"fr":"","en":"Financing requires a repurchase price at least equal to the original selling price; here 1,500,000 < 2,000,000.","es":""}},{"id":"C","text":{"fr":"","en":"As a lease under IFRS 16","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As an outright sale of 2,000,000, ignoring the option","es":""},"correct":false,"feedback":{"fr":"","en":"Any repurchase agreement must be considered when assessing the transfer of control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000124","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"MANUFACTURING","tested_point":"ACCEPTANCE_FORMALITY","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"customer-acceptance"},"references":["IFRS 15","IFRS 15 §B84"],"exercise":{"prompt":{"fr":"","en":"A carton maker delivers packaging whose dimensions and paper weight, the only agreed specifications, are measured and recorded at the plant before shipment. The contract provides for formal customer acceptance within ten days of delivery. The carton maker must wait for this acceptance before recognising revenue.","es":""},"explanation":{"fr":"","en":"False. An acceptance clause is considered when dating the transfer (IFRS 15, para. B83), but where the entity can objectively determine that the agreed specifications are met — here, size and weight measurements made before shipment — acceptance is a formality that does not affect the timing of the transfer of control (IFRS 15, para. B84).","es":""},"common_error":{"fr":"","en":"Treating every acceptance clause as suspensive, without checking whether compliance can be objectively determined.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000125","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD","IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"ELECTRONICS","tested_point":"YEAR_END_CUTOFF_ERRORS","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"pitfalls"},"references":["IFRS 15 §B66","IFRS 15 §B68","IFRS 15 §B77","IFRS 15 §B81","IFRS 15","IFRS 15 §B86"],"exercise":{"prompt":{"fr":"","en":"An electronic equipment manufacturer is preparing its year-end close. The accounting department's memo contains the following statements. Identify the incorrect ones.","es":""},"explanation":{"fr":"","en":"Consignment: no revenue on delivery (IFRS 15, para. B77). Bill-and-hold: four criteria, including a product ready for transfer (IFRS 15, para. B81), and any custody service (IFRS 15, para. B82). Mandatory repurchase at a higher price: financing, the asset stays on the balance sheet (IFRS 15, paras. B66 and B68). Trial without commitment: transfer on acceptance or at the end of the trial (IFRS 15, para. B86).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The screens shipped on 28 December to our distributors, who can return unsold units without paying and whom we can recall, were recognised as revenue on shipment.","es":""},"erroneous":true,"correction":{"fr":"","en":"These are indicators of a consignment: no revenue on delivery to the distributor (IFRS 15, para. B77).","es":""}},{"id":"S2","text":{"fr":"","en":"A 'bill-and-hold' invoice was issued on 31 December for servers whose assembly will only be completed in January; revenue was recognised.","es":""},"erroneous":true,"correction":{"fr":"","en":"The product must, among other things, be ready for physical transfer: without the four criteria, no revenue (IFRS 15, para. B81).","es":""}},{"id":"S3","text":{"fr":"","en":"For the production line sold with an obligation to repurchase at a higher price, we kept the asset on the balance sheet and recognised a financial liability.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"For the terminals invoiced and held at a customer's request, meeting the four criteria, we allocated part of the price to the custody service.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"Tablets handed to a school in December for a free trial until 15 January, with no commitment to pay before the end of the trial, were recognised as revenue on delivery.","es":""},"erroneous":true,"correction":{"fr":"","en":"Control only passes on customer acceptance or when the trial period expires (IFRS 15, para. B86).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000126","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"ANALYSIS","format":"MULTIPLE_CHOICE","context":"MANUFACTURING","tested_point":"BILL_AND_HOLD_CRITERIA_NOT_MET","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"bill-and-hold"},"references":["IFRS 15","IFRS 15 §B81"],"exercise":{"prompt":{"fr":"","en":"A steelmaker has invoiced 40 steel coils to a customer who, lacking space at its plant, asked it in writing to keep them for two months. Case data: the coils are finished and ready to ship, but they are kept in general stock, without any marking in the customer's name, and the steelmaker may use them to fill urgent orders, producing others for this customer later. Which bill-and-hold criteria are NOT met?","es":""},"explanation":{"fr":"","en":"The coils are not identified as belonging to the customer and the steelmaker can use them for other orders: criteria (b) and (d) are not met, so the customer has not obtained control and no revenue is recognised before delivery (IFRS 15, paras. B79 and B81).","es":""},"common_error":{"fr":"","en":"Concluding that control has transferred because the customer requested custody and the invoice has been issued.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The arrangement has a substantive reason","es":""},"correct":false,"feedback":{"fr":"","en":"This criterion is met: the customer requested the custody in writing for lack of space.","es":""}},{"id":"B","text":{"fr":"","en":"The product is identified separately as belonging to the customer","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The product is ready for physical transfer","es":""},"correct":false,"feedback":{"fr":"","en":"This criterion is met: the coils are finished and ready to ship.","es":""}},{"id":"D","text":{"fr":"","en":"The entity cannot use the product or direct it to another customer","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000127","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"APPLICATION","format":"MATCHING","context":"HEALTHCARE","tested_point":"ACCEPTANCE_CLAUSE_TO_TRANSFER_DATE","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000012","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"customer-acceptance"},"references":["IFRS 15","IFRS 15 §B84","IFRS 15 §B85","IFRS 15 §B86"],"exercise":{"prompt":{"fr":"","en":"A hospital equipment supplier has three contracts with an acceptance clause. Match each situation with the timing of the transfer of control.","es":""},"explanation":{"fr":"","en":"The acceptance clause is considered when dating the transfer (IFRS 15, para. B83). Compliance objectively determined before shipment: formality (IFRS 15, para. B84). Compliance that cannot be objectively determined before receipt: transfer on acceptance (IFRS 15, para. B85). Trial without commitment: on acceptance or at the end of the trial (IFRS 15, para. B86). Signing the contract does not transfer control.","es":""},"common_error":{"fr":"","en":"Always deferring transfer to acceptance: if conformity is objectively verified before shipment, acceptance is a formality.","es":""},"format":"MATCHING","left":[{"id":"L1","text":{"fr":"","en":"Medical beds whose dimensions and maximum load, the only agreed specifications, are checked and certified before shipment","es":""}},{"id":"L2","text":{"fr":"","en":"Imaging system whose image quality must be demonstrated under the specific conditions of the customer's radiology department","es":""}},{"id":"L3","text":{"fr":"","en":"Infusion pumps lent for 30 days for evaluation, with no commitment to pay before the end of the trial","es":""}}],"right":[{"id":"R1","text":{"fr":"","en":"At the usual transfer date (delivery): acceptance is a formality","es":""}},{"id":"R2","text":{"fr":"","en":"On customer acceptance","es":""}},{"id":"R3","text":{"fr":"","en":"On acceptance or when the trial period expires","es":""}},{"id":"R4","text":{"fr":"","en":"On signing the contract","es":""}}],"pairs":[{"left":"L1","right":"R1"},{"left":"L2","right":"R2"},{"left":"L3","right":"R3"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000128","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"TELECOM","tested_point":"CONTRACT_COSTS_CAPITALISED","difficulty":"BEGINNER","estimated_time_s":150,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"numeric-example"},"references":["IFRS 15 §91","IFRS 15 §92","IFRS 15 §93","IFRS 15 §95","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"An operator signs a 5-year private network contract with a business customer. It lists the costs below (case data; the three capitalisation conditions for costs to fulfil are met for the configuration). Calculate the amounts recognised as a contract cost asset.","es":""},"explanation":{"fr":"","en":"Only the commission is an incremental cost of obtaining the contract: it would not exist without the contract, hence 18,000 as an asset (IFRS 15, paras. 91 and 92). The bonus based on the overall target and the fees payable even without signature would have been incurred anyway: expenses (IFRS 15, para. 93). The configuration meets the three conditions: 45,000 as an asset (IFRS 15, para. 95). The routers remain property, plant and equipment under IAS 16 (IFRS 15, para. 96). Total: 18,000 + 45,000 = 63,000.","es":""},"common_error":{"fr":"","en":"Also capitalising the routers (75,000): a cost covered by another standard follows that standard, not IFRS 15.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Salesperson commission, payable only if the customer signs","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Quarterly bonus of the sales team, based on the branch's overall target","es":""},"value":"6000","unit":"EUR"},{"label":{"fr":"","en":"Legal fees for drafting the offer, payable even without signature","es":""},"value":"3500","unit":"EUR"},{"label":{"fr":"","en":"Configuration of the customer's dedicated network profile, before the service starts","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Routers bought by the operator, which keeps ownership","es":""},"value":"12000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Costs to obtain recognised as an asset","es":""},"answer":18000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Costs to fulfil recognised as an asset under IFRS 15","es":""},"answer":45000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total contract cost asset","es":""},"answer":63000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Total contract cost asset","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Salesperson commission, payable only if the customer signs","es":""},"value":18000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Configuration of the customer's dedicated network profile, before the service starts","es":""},"value":45000,"unit":"EUR"}],"result":63000,"unit":"EUR"}],"rationale":{"fr":"","en":"Only the commission is an incremental cost of obtaining the contract: it would not exist without the contract, hence 18,000 as an asset (IFRS 15, paras. 91 and 92).","es":""},"references":["REF.IFRS15.91","REF.IFRS15.92","REF.IFRS15.93","REF.IFRS15.95","REF.IFRS15.96"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000129","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"SOFTWARE","tested_point":"CONTRACT_COST_AMORTISATION_PATTERN","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15 §99"],"exercise":{"prompt":{"fr":"","en":"A software company has recognised 90,000 as a contract cost asset for a 3-year invoice-processing contract (commission and integration). The service is transferred in line with the volumes processed, expected at 50% in year 1, 30% in year 2 and 20% in year 3 (case data). Calculate the amortisation consistent with that pattern.","es":""},"explanation":{"fr":"","en":"The asset is amortised on a systematic basis consistent with the pattern of transfer of the services (IFRS 15, para. 99): 90,000 × 50% = 45,000; 90,000 × 30% = 27,000; carrying amount at the end of year 2 = 90,000 − 45,000 − 27,000 = 18,000, amortised in year 3. Straight-line amortisation (30,000 a year) would not reflect this pattern, given by the case.","es":""},"common_error":{"fr":"","en":"Amortising on a straight-line basis by reflex: the straight-line method is appropriate only if it reflects the pattern of transfer.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Contract cost asset","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Expected volumes: year 1 / year 2 / year 3","es":""},"value":"50 % / 30 % / 20 %","unit":"TEXT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Year 1 amortisation","es":""},"answer":45000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Year 2 amortisation","es":""},"answer":27000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Carrying amount at the end of year 2","es":""},"answer":18000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Carrying amount at the end of year 2","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract cost asset","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Year 1 amortisation","es":""},"value":45000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Year 2 amortisation","es":""},"value":27000,"unit":"EUR"}],"result":18000,"unit":"EUR"}],"rationale":{"fr":"","en":"The asset is amortised on a systematic basis consistent with the pattern of transfer of the services (IFRS 15, para. 99): 90,000 × 50% = 45,000","es":""},"references":["REF.IFRS15.99"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000130","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"CONTRACT_COST_IMPAIRMENT_TEST","difficulty":"ADVANCED","estimated_time_s":210,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"impairment"},"references":["IFRS 15","IFRS 15 §102"],"exercise":{"prompt":{"fr":"","en":"A construction company carries 70,000 of site mobilisation costs as an asset (contract cost asset). At the reporting date, it tests this asset. The remaining price comprises a fixed part and an on-time bonus; the constraint on variable consideration estimates would exclude the bonus from the transaction price, but its most likely amount is 50,000 (case data). The customer is in financial difficulty. Calculate the impairment loss.","es":""},"explanation":{"fr":"","en":"For this test, the expected consideration follows the transaction price principles without applying the constraint, but adjusted for credit risk (IFRS 15, para. 102): 400,000 + 50,000 − 10,000 = 440,000. Ceiling: 440,000 − 390,000 = 50,000 (IFRS 15, para. 101). The carrying amount of 70,000 exceeds it by 20,000: impairment loss of 20,000 in profit or loss.","es":""},"common_error":{"fr":"","en":"Excluding the bonus (ceiling 0, loss 70,000): the constraint on variable consideration does not apply to this test.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Carrying amount of the asset","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Remaining fixed consideration","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"On-time bonus (most likely amount)","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Adjustment for the customer's credit risk","es":""},"value":"10000","unit":"EUR"},{"label":{"fr":"","en":"Directly related costs still to be incurred","es":""},"value":"390000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Remaining expected consideration used in the test","es":""},"answer":440000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Amount the carrying amount must not exceed","es":""},"answer":50000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Impairment loss","es":""},"answer":20000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Remaining expected consideration used in the test","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Remaining fixed consideration","es":""},"value":400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"On-time bonus (most likely amount)","es":""},"value":50000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Adjustment for the customer's credit risk","es":""},"value":10000,"unit":"EUR"}],"result":440000,"unit":"EUR","rationale":{"fr":"","en":"For this test, the expected consideration follows the transaction price principles without applying the constraint, but adjusted for credit risk (IFRS 15, para. 102): 400,000 + 50,000 − 10,000 = 440,000.","es":""}},{"step":"S2","meaning":{"fr":"","en":"Amount the carrying amount must not exceed","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Remaining expected consideration used in the test","es":""},"value":440000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Directly related costs still to be incurred","es":""},"value":390000,"unit":"EUR"}],"result":50000,"unit":"EUR"}],"references":["REF.IFRS15.101","REF.IFRS15.102"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000131","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"CONTRACT_COST_IMPAIRMENT_REVERSAL_CAP","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"reversal"},"references":["IFRS 15 §104","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A contract cost asset of 60,000 is amortised on a straight-line basis over 5 years (assumption consistent with a uniform service, case data). At the end of year 2, it is impaired down to 21,000, then amortised over the remaining 3 years. At the end of year 3, the impairment conditions have improved: the remaining expected consideration less the costs still to be incurred amounts to 30,000 (case data). Calculate the reversal.","es":""},"explanation":{"fr":"","en":"The test compares the carrying amount with the remaining consideration expected less the directly related costs still to be incurred (IFRS 15, para. 101): here 30,000. After impairment: 21,000 / 3 = 7,000 a year, hence 21,000 − 7,000 = 14,000 at the end of year 3. Without impairment: 60,000 − 3 × 12,000 = 24,000. A reversal is allowed when conditions have improved, but the carrying amount cannot exceed the amount that would have existed without impairment (IFRS 15, para. 104). Reversal = the lower of (30,000 − 14,000 = 16,000) and (24,000 − 14,000 = 10,000) = 10,000. The original loss (36,000 − 21,000 = 15,000) is not the cap.","es":""},"common_error":{"fr":"","en":"Reversing 15,000 (the whole original loss) or 16,000 (up to the new test ceiling): the carrying amount without impairment, net of amortisation, caps the reversal.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Initial cost of the asset","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Amortisation period","es":""},"value":"5","unit":"YEARS"},{"label":{"fr":"","en":"Carrying amount after impairment (end of year 2)","es":""},"value":"21000","unit":"EUR"},{"label":{"fr":"","en":"New test ceiling (end of year 3)","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Carrying amount at the end of year 3, before reversal","es":""},"answer":14000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Carrying amount that would have existed without impairment","es":""},"answer":24000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Reversal of impairment loss","es":""},"answer":10000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Carrying amount at the end of year 3, before reversal","es":""},"expression":"a - (a / 3)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount after impairment (end of year 2)","es":""},"value":21000,"unit":"EUR"}],"result":14000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Reversal of impairment loss","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount that would have existed without impairment","es":""},"value":24000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Carrying amount at the end of year 3, before reversal","es":""},"value":14000,"unit":"EUR"}],"result":10000,"unit":"EUR"}],"rationale":{"fr":"","en":"The test compares the carrying amount with the remaining consideration expected less the directly related costs still to be incurred (IFRS 15, para. 101): here 30,000.","es":""},"references":["REF.IFRS15.104","REF.IFRS15.101"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000132","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"ENERGY","tested_point":"COMMISSION_CAPITALISATION_ENTRY","difficulty":"BEGINNER","estimated_time_s":120,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"entry"},"references":["IFRS 15 §91","IFRS 15 §92","IFRS 15 §93"],"exercise":{"prompt":{"fr":"","en":"An energy supplier signs a 3-year supply contract with an industrial site. It owes the broker a commission of 15,000, payable only because the contract is signed and due in 30 days; it also pays in cash 2,000 of legal fees that were due whether or not the contract was signed (case data; the entity expects to recover the commission; taxes ignored). Record the entries at signature.","es":""},"explanation":{"fr":"","en":"The commission is an incremental cost of obtaining the contract that the entity expects to recover: it is recognised as a contract cost asset (IFRS 15, paras. 91 and 92). As the contract lasts 3 years, the one-year practical expedient is not relevant. The fees, due even without signature, are an expense when incurred (IFRS 15, para. 93). Check: debits 17,000 = credits 17,000.","es":""},"common_error":{"fr":"","en":"Debiting the contract asset: that account represents a right to consideration for performance delivered, not capitalised costs.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CONTRACT_COST_ASSET","text":{"fr":"","en":"Contract cost asset","es":""}},{"id":"TRADE_PAYABLES","text":{"fr":"","en":"Trade payables","es":""}},{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"LEGAL_FEES_EXPENSE","text":{"fr":"","en":"Legal fees (expense)","es":""}},{"id":"SELLING_EXPENSE","text":{"fr":"","en":"Selling expenses","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}}],"lines":[{"id":"L1","account":"CONTRACT_COST_ASSET","side":"DEBIT","amount":15000},{"id":"L2","account":"TRADE_PAYABLES","side":"CREDIT","amount":15000},{"id":"L3","account":"LEGAL_FEES_EXPENSE","side":"DEBIT","amount":2000},{"id":"L4","account":"CASH","side":"CREDIT","amount":2000,"given":["account","side"]}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000133","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"SECURITY_SERVICES","tested_point":"CONTRACT_COST_AMORTISATION_IMPAIRMENT_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"entry"},"references":["IFRS 15 §99","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A remote-monitoring company carries a contract cost asset of 48,000, amortised on a straight-line basis over the 4 years of the service (assumption consistent with a uniform service, case data). At the end of year 1, after amortisation, it tests the asset: remaining expected consideration 80,000, directly related costs still to be incurred 50,000 (case data). Record the year-1 closing entries.","es":""},"explanation":{"fr":"","en":"Amortisation: 48,000 / 4 = 12,000, consistent with the transfer of the service (IFRS 15, para. 99). Carrying amount after amortisation: 36,000. Test ceiling: 80,000 − 50,000 = 30,000; the carrying amount exceeds it by 6,000, recognised as an impairment loss (IFRS 15, para. 101). Credit to the asset: 12,000 + 6,000 = 18,000; 30,000 remains to be amortised over 3 years.","es":""},"common_error":{"fr":"","en":"Testing the asset before amortising it (loss of 18,000): the test compares the closing carrying amount, after the year's amortisation.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CONTRACT_COST_AMORTISATION","text":{"fr":"","en":"Amortisation of contract costs","es":""}},{"id":"CONTRACT_COST_IMPAIRMENT","text":{"fr":"","en":"Impairment loss on contract costs","es":""}},{"id":"CONTRACT_COST_ASSET","text":{"fr":"","en":"Contract cost asset","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}}],"lines":[{"id":"L1","account":"CONTRACT_COST_AMORTISATION","side":"DEBIT","amount":12000},{"id":"L2","account":"CONTRACT_COST_IMPAIRMENT","side":"DEBIT","amount":6000},{"id":"L3","account":"CONTRACT_COST_ASSET","side":"CREDIT","amount":18000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000134","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"MEDIA","tested_point":"INCREMENTAL_COST_TEST","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §91","IFRS 15 §92","IFRS 15 §93","IFRS 15 §94"],"exercise":{"prompt":{"fr":"","en":"An advertising sales house analyses the costs related to its advertising-space contracts. Classify each cost (the entity expects to recover the incremental costs; case data).","es":""},"explanation":{"fr":"","en":"Commissions payable only if the contract is signed are incremental costs, recognised as an asset if recoverable (IFRS 15, paras. 91 and 92), whether paid to an employee or a third party. The travel costs, the tender preparation and the bonus based on total revenue would exist without this contract: expenses (IFRS 15, para. 93). For the 4-month campaign, the amortisation period does not exceed one year: the entity may expense the commission or capitalise it (IFRS 15, para. 94).","es":""},"common_error":{"fr":"","en":"Capitalising the tender costs because they 'helped win' the contract: the test is whether they would exist without the contract.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ASSET","text":{"fr":"","en":"Contract cost asset","es":""}},{"id":"EXPENSE","text":{"fr":"","en":"Expense when incurred","es":""}},{"id":"CHOICE","text":{"fr":"","en":"Expense or asset, at the entity’s choice (one-year expedient)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Commission of 3% paid to the salesperson on a 2-year contract, payable only on signature","es":""},"category":"ASSET"},{"id":"I2","text":{"fr":"","en":"Commission of an external introducer, payable only if the advertiser signs for 3 years","es":""},"category":"ASSET"},{"id":"I3","text":{"fr":"","en":"Travel costs to present the offer to the advertiser","es":""},"category":"EXPENSE"},{"id":"I4","text":{"fr":"","en":"Cost of preparing a tender response, incurred whether or not the bid is won","es":""},"category":"EXPENSE"},{"id":"I5","text":{"fr":"","en":"Annual bonus of the sales director, based on the sales house's total revenue","es":""},"category":"EXPENSE"},{"id":"I6","text":{"fr":"","en":"Commission payable on signature of a 4-month campaign, with no renewal expected","es":""},"category":"CHOICE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000135","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"LOGISTICS","tested_point":"FULFILMENT_COST_CLASSIFICATION","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"direct-and-expensed-costs"},"references":["IFRS 15 §95","IFRS 15","IFRS 15 §97"],"exercise":{"prompt":{"fr":"","en":"A logistics provider signs a 5-year warehousing contract; the service starts on 1 March. Classify each cost (case data: when a cost prepares the future service, it relates directly to the contract and is expected to be recovered).","es":""},"explanation":{"fr":"","en":"The racking falls under IAS 16 and the packaging stock under IAS 2: an applicable other standard comes first (IFRS 15, para. 96). The migration and set-up, carried out before the service, create a resource for future obligations and meet the three conditions (IFRS 15, paras. 95 and 97). April wages relate to service already provided; non-chargeable head-office costs and losses not reflected in the price are expenses (IFRS 15, para. 98).","es":""},"common_error":{"fr":"","en":"Capitalising April wages because they relate directly to the contract: once the service is provided, they are costs of performance delivered.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ASSET","text":{"fr":"","en":"Contract cost asset","es":""}},{"id":"EXPENSE","text":{"fr":"","en":"Expense","es":""}},{"id":"OTHER_STANDARD","text":{"fr":"","en":"Another standard (IAS 16 or IAS 2)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Migration of the customer's master data and set-up of its warehousing procedures, in February","es":""},"category":"ASSET"},{"id":"I2","text":{"fr":"","en":"Racking bought and kept by the provider","es":""},"category":"OTHER_STANDARD"},{"id":"I3","text":{"fr":"","en":"Stock of packaging bought, not yet used","es":""},"category":"OTHER_STANDARD"},{"id":"I4","text":{"fr":"","en":"Wages of order pickers in April","es":""},"category":"EXPENSE"},{"id":"I5","text":{"fr":"","en":"Share of head-office costs, not chargeable to the customer","es":""},"category":"EXPENSE"},{"id":"I6","text":{"fr":"","en":"Customer goods damaged by a handling error, reimbursed and not reflected in the price","es":""},"category":"EXPENSE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000136","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT","IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"FITNESS","tested_point":"ONE_YEAR_EXPEDIENT_AMORTISATION_PERIOD","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"one-year-expedient"},"references":["IFRS 15 §94","IFRS 15 §99","IFRS 15 §91"],"exercise":{"prompt":{"fr":"","en":"A gym chain pays its adviser 50 for each annual membership sold. No commission is paid on renewals, and history shows that members stay on average 3 years, which the chain regards as a specifically identified anticipated renewal (case data). May the chain expense these commissions when incurred?","es":""},"explanation":{"fr":"","en":"The expedient is available only if the amortisation period of the asset that would have been recognised is one year or less (IFRS 15, para. 94). Amortisation follows the transfer of services, including those of a specifically identified anticipated contract (IFRS 15, para. 99): about 3 years here. The commission, a recoverable incremental cost, is therefore capitalised (IFRS 15, para. 91). Identifying the renewal is a matter of the entity's judgement, to be documented.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: the amortisation period includes the anticipated renewals and exceeds one year; the commissions are capitalised and amortised","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Yes: each membership lasts one year, so the expedient applies","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion is the asset's amortisation period, not the legal term of the membership.","es":""}},{"id":"C","text":{"fr":"","en":"Yes: 50 per membership is an immaterial amount","es":""},"correct":false,"feedback":{"fr":"","en":"The question concerns the practical-expedient rule; besides, the commissions across a network are not necessarily negligible.","es":""}},{"id":"D","text":{"fr":"","en":"No: a commission is never an incremental cost","es":""},"correct":false,"feedback":{"fr":"","en":"On the contrary, a sales commission is the typical example of an incremental cost.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000137","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT","IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"HEALTHCARE","tested_point":"CONTRACT_COSTS_REVIEW","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"pitfalls"},"references":["IFRS 15 §91","IFRS 15 §93","IFRS 15","IFRS 15 §99","IFRS 15 §102","IFRS 15 §104"],"exercise":{"prompt":{"fr":"","en":"A hospital sterilisation provider has its assistant's closing memo on the costs of a 6-year contract reviewed. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"S1 applies the incremental-cost rule (IFRS 15, para. 91), S3 the priority of another standard (IFRS 15, para. 96) and S4 the amortisation rule (IFRS 15, para. 99). S2, S5 and S6 are wrong: non-incremental bonus (para. 93), constraint wrongly applied in the test (para. 102), uncapped reversal (para. 104).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The 12,000 commission payable to the salesperson on signature is capitalised, as it is incremental and recoverable.","es":""},"erroneous":false},{"id":"S2","text":{"fr":"","en":"The regional director's bonus, calculated on the margin of the whole region, is also capitalised, as this contract contributed to it.","es":""},"erroneous":true,"correction":{"fr":"","en":"This bonus would exist without the contract: it is an expense (IFRS 15, para. 93).","es":""}},{"id":"S3","text":{"fr":"","en":"The autoclaves bought and kept by the entity are accounted for under IAS 16.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"The asset is amortised over the period of transfer of the services, including a specifically identified anticipated renewal.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"For the impairment test, the quality bonus of 30,000 is excluded, because the constraint on variable consideration excludes it from the transaction price.","es":""},"erroneous":true,"correction":{"fr":"","en":"Expected consideration is assessed without applying the constraint, but adjusted for credit risk (IFRS 15, para. 102).","es":""}},{"id":"S6","text":{"fr":"","en":"As the situation has improved, the whole previous impairment loss is reversed.","es":""},"erroneous":true,"correction":{"fr":"","en":"The reversal is capped: the carrying amount cannot exceed what it would have been, net of amortisation, without impairment (IFRS 15, para. 104).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000138","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT","IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"HEALTHCARE_IT","tested_point":"CONTRACT_COSTS_SYNTHESIS","difficulty":"EXPERT","estimated_time_s":480,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"judgment"},"references":["IFRS 15 §91","IFRS 15 §93","IFRS 15 §95","IFRS 15","IFRS 15 §99","IFRS 15 §100"],"exercise":{"prompt":{"fr":"","en":"Analyse the costs of Imagéo's archiving contract, then their amortisation.","es":""},"explanation":{"fr":"","en":"Approach: sort the costs (other standard, incremental cost, three conditions), set the amortisation period by documented judgement, then revise the estimate when the expected timing changes (IFRS 15, paras. 91 to 100).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Imagéo, a medical imaging archiving provider, signs a 3-year contract with a hospital group on 1 January N. The framework agreement provides for a 2-year renewal on terms already negotiated; the group usually renews its contracts, and no commission would be paid on renewal. Imagéo regards this renewal as a specifically identified anticipated contract (entity's judgement, to be documented). The archiving service is provided evenly; teaching assumption: straight-line amortisation reflects this pattern. Amounts in euros.","es":""},"exhibits":[{"title":{"fr":"","en":"Costs incurred around signature","es":""},"body":{"fr":"","en":"| Cost | Amount |\n| --- | --- |\n| Account manager commission, payable only if the contract is signed | 15,000 |\n| Tender response (teams, mock-ups), incurred whether or not the bid is won | 9,000 |\n| Migration of the group's existing archives to the platform, before the service starts (three conditions met, case data) | 45,000 |\n| Storage servers bought, kept by Imagéo | 80,000 |","es":""}}],"parts":[{"prompt":{"fr":"","en":"Classify each cost.","es":""},"explanation":{"fr":"","en":"Incremental and recoverable commission: asset (IFRS 15, para. 91). Tender response incurred anyway: expense (IFRS 15, para. 93). Migration: cost to fulfil meeting the three conditions (IFRS 15, para. 95). Servers: IAS 16 (IFRS 15, para. 96).","es":""},"common_error":{"fr":"","en":"Capitalising the tender response: incurred whether or not the contract is won, it is an expense.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ASSET","text":{"fr":"","en":"Contract cost asset","es":""}},{"id":"EXPENSE","text":{"fr":"","en":"Expense","es":""}},{"id":"OTHER_STANDARD","text":{"fr":"","en":"IAS 16","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Account manager commission","es":""},"category":"ASSET"},{"id":"I2","text":{"fr":"","en":"Tender response","es":""},"category":"EXPENSE"},{"id":"I3","text":{"fr":"","en":"Archive migration","es":""},"category":"ASSET"},{"id":"I4","text":{"fr":"","en":"Storage servers","es":""},"category":"OTHER_STANDARD"}],"id":"P1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Over what period is the asset amortised?","es":""},"explanation":{"fr":"","en":"The asset is amortised consistently with the transfer of the services to which it relates, including those of a specifically identified anticipated contract (IFRS 15, para. 99): 3 + 2 = 5 years, based on Imagéo's documented judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"5 years: the contract term plus the specifically identified anticipated renewal","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"3 years: the legal term of the signed contract","es":""},"correct":false,"feedback":{"fr":"","en":"Amortisation follows the transfer of services, including those of a specifically identified anticipated contract.","es":""}},{"id":"C","text":{"fr":"","en":"The useful life of the servers","es":""},"correct":false,"feedback":{"fr":"","en":"The servers fall under IAS 16; the contract cost asset follows the transfer of the contract services.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"Calculate the asset, the annual amortisation, then the N+2 amortisation: at the start of N+2, the group announces it will not renew (no impairment is needed, case data).","es":""},"explanation":{"fr":"","en":"Asset: 15,000 + 45,000 = 60,000; amortisation: 60,000 / 5 = 12,000 a year. At the end of N+1, carrying amount: 60,000 − 24,000 = 36,000. The significant change in the expected timing is a change in estimate, accounted for prospectively (IFRS 15, para. 100): the 36,000 is amortised over the single remaining year, N+2.","es":""},"common_error":{"fr":"","en":"Continuing to amortise over five years after non-renewal is announced: the change in estimate means amortising the balance over the remaining year.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Initial amortisation period","es":""},"value":"5","unit":"YEARS"},{"label":{"fr":"","en":"Remaining term at the start of N+2, without renewal","es":""},"value":"1","unit":"YEARS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Contract cost asset","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Annual amortisation for N and N+1","es":""},"answer":12000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"N+2 amortisation","es":""},"answer":36000,"tolerance":0,"unit":"EUR"}],"id":"P3","dimension":"CALCULATION","formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Annual amortisation for N and N+1","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract cost asset","es":""},"value":60000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Initial amortisation period","es":""},"value":5,"unit":"YEARS"}],"result":12000,"unit":"EUR"}],"references":["REF.IFRS15.100"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000139","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"CALCULATION","format":"CALCULATION","context":"CONSTRUCTION","tested_point":"CONTRACT_NET_POSITION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"numeric-example"},"references":["IFRS 15 §105","IFRS 15 §106","IFRS 15 §107","IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"A civil engineering company is building a bridge for a regional authority; the obligation is satisfied over time. Amounts invoiced are due in 30 days (case data). Calculate the balances to present in the statement of financial position at the end of N, then at the end of N+1.","es":""},"explanation":{"fr":"","en":"End of N: performance (2,400,000) exceeds amounts billed (2,000,000): contract asset of 400,000 (IFRS 15, paras. 105 and 107). The amount billed but not collected, which depends only on the due date, is a receivable: 2,000,000 − 1,700,000 = 300,000 (IFRS 15, para. 108). Check: 1,700,000 + 300,000 + 400,000 = 2,400,000. End of N+1: billed 3,300,000 > revenue 3,100,000: contract liability of 200,000 (IFRS 15, para. 106).","es":""},"common_error":{"fr":"","en":"Calculating the contract asset against collections (700,000): the receivable is an unconditional right presented separately.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cumulative revenue at end of N","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative billings at end of N","es":""},"value":"2000000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative collections at end of N","es":""},"value":"1700000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative revenue at end of N+1","es":""},"value":"3100000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative billings at end of N+1, fully collected","es":""},"value":"3300000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Contract asset at end of N","es":""},"answer":400000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Receivable at end of N","es":""},"answer":300000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Contract liability at end of N+1","es":""},"answer":200000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Receivable at end of N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative billings at end of N","es":""},"value":2000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Cumulative collections at end of N","es":""},"value":1700000,"unit":"EUR"}],"result":300000,"unit":"EUR","rationale":{"fr":"","en":"The amount billed but not collected, which depends only on the due date, is a receivable: 2,000,000 − 1,700,000 = 300,000 (IFRS 15, para. 108).","es":""}}],"references":["REF.IFRS15.105","REF.IFRS15.106","REF.IFRS15.107","REF.IFRS15.108"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000140","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"CALCULATION","format":"CALCULATION","context":"SOFTWARE","tested_point":"REMAINING_PERFORMANCE_OBLIGATIONS","difficulty":"ADVANCED","estimated_time_s":210,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"performance-obligations-disclosure"},"references":["IFRS 15 §120","IFRS 15 §121","IFRS 15 §122"],"exercise":{"prompt":{"fr":"","en":"A software company prepares the disclosure of the transaction price allocated to the remaining performance obligations at the reporting date. It applies the expedient for contracts with an original expected duration of one year or less (case data). Calculate the amount to disclose.","es":""},"explanation":{"fr":"","en":"The entity discloses the transaction price allocated to unsatisfied obligations (IFRS 15, para. 120): A 360,000 − 150,000 = 210,000; C 96,000 − 24,000 = 72,000. Contract B (original expected duration of 10 months) may be omitted (IFRS 15, para. 121). The constrained bonus is not in the transaction price, so not in the amount; the entity states qualitatively the expedient applied and the existence of this excluded consideration (IFRS 15, para. 122). Total: 282,000.","es":""},"common_error":{"fr":"","en":"Adding the 20,000 bonus (302,000): constrained variable consideration is not in the transaction price; it is mentioned qualitatively.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Contract A: 3-year subscription, transaction price","es":""},"value":"360000","unit":"EUR"},{"label":{"fr":"","en":"Contract A: revenue recognised at the reporting date","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Contract B: 10-month implementation, price still to be recognised","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Contract C: 2-year support, transaction price","es":""},"value":"96000","unit":"EUR"},{"label":{"fr":"","en":"Contract C: revenue recognised at the reporting date","es":""},"value":"24000","unit":"EUR"},{"label":{"fr":"","en":"Contract C: performance bonus excluded from the price by the constraint","es":""},"value":"20000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Contract A: price still to be recognised","es":""},"answer":210000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Contract C: price still to be recognised","es":""},"answer":72000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total amount to disclose","es":""},"answer":282000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Contract A: price still to be recognised","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract A: 3-year subscription, transaction price","es":""},"value":360000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Contract A: revenue recognised at the reporting date","es":""},"value":150000,"unit":"EUR"}],"result":210000,"unit":"EUR","rationale":{"fr":"","en":"The entity discloses the transaction price allocated to unsatisfied obligations (IFRS 15, para. 120): A 360,000 − 150,000 = 210,000","es":""}},{"step":"S2","meaning":{"fr":"","en":"Contract C: price still to be recognised","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract C: 2-year support, transaction price","es":""},"value":96000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Contract C: revenue recognised at the reporting date","es":""},"value":24000,"unit":"EUR"}],"result":72000,"unit":"EUR"}],"references":["REF.IFRS15.120","REF.IFRS15.121","REF.IFRS15.122"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000141","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"FURNITURE","tested_point":"ADVANCE_CONTRACT_LIABILITY_ENTRY","difficulty":"BEGINNER","estimated_time_s":150,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"entry"},"references":["IFRS 15 §105","IFRS 15 §106"],"exercise":{"prompt":{"fr":"","en":"A kitchen maker receives a non-cancellable order of 40,000 for a kitchen delivered and installed in 2 months; control will transfer on installation (case data). It collects a deposit of 12,000 on order. The balance of 28,000, invoiced, is due 15 days before installation; on that date, it is not yet paid. Record the entries for the deposit, then for the balance becoming due (taxes ignored).","es":""},"explanation":{"fr":"","en":"The customer pays, or an amount becomes due, before transfer: contract liability at the earlier of the two dates (IFRS 15, para. 106). The deposit creates a liability of 12,000 on collection. As the contract is non-cancellable, the balance due creates a receivable and a liability of 28,000 as soon as it is due, without waiting for payment. No revenue before installation: on that date, the 40,000 liability will be settled against revenue. The unconditional right to the balance is presented separately, as a receivable (IFRS 15, para. 105).","es":""},"common_error":{"fr":"","en":"Crediting revenue when the deposit is collected: the good is not yet transferred; the deposit is an obligation to the customer.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"TRADE_RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}}],"lines":[{"id":"L1","account":"CASH","side":"DEBIT","amount":12000,"given":["account","side"]},{"id":"L2","account":"CONTRACT_LIABILITY","side":"CREDIT","amount":12000},{"id":"L3","account":"TRADE_RECEIVABLE","side":"DEBIT","amount":28000},{"id":"L4","account":"CONTRACT_LIABILITY","side":"CREDIT","amount":28000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000142","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"ENGINEERING","tested_point":"BILLING_RECLASSIFICATION_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"receivable"},"references":["IFRS 15 §105","IFRS 15 §107","IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"An engineering firm has an opening contract asset of 90,000 on a contract satisfied over time. During the quarter, it recognises 80,000 of revenue as work progresses. Then the contractual milestone is reached: it invoices 150,000, payable in 30 days with no other condition (case data). Record the entries for the quarter.","es":""},"explanation":{"fr":"","en":"Performance not yet due increases the contract asset, a right conditional on something other than the passage of time (IFRS 15, para. 107). At the milestone, the right becomes unconditional: it is reclassified as a receivable (IFRS 15, para. 108); billing creates no additional revenue. Remaining contract asset: 90,000 + 80,000 − 150,000 = 20,000, still presented separately from the receivable (IFRS 15, para. 105).","es":""},"common_error":{"fr":"","en":"Crediting revenue of 150,000 on billing: revenue follows performance; the invoice only reclassifies the right.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"TRADE_RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"CASH","text":{"fr":"","en":"Cash","es":""}}],"lines":[{"id":"L1","account":"CONTRACT_ASSET","side":"DEBIT","amount":80000},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":80000},{"id":"L3","account":"TRADE_RECEIVABLE","side":"DEBIT","amount":150000},{"id":"L4","account":"CONTRACT_ASSET","side":"CREDIT","amount":150000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000143","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"TELECOM","tested_point":"CONTRACT_BALANCE_CLASSIFICATION","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §105","IFRS 15 §106","IFRS 15 §107","IFRS 15 §108","IFRS 15 §91"],"exercise":{"prompt":{"fr":"","en":"A mobile operator prepares its statement of financial position. Classify each balance (separate contracts; case data).","es":""},"explanation":{"fr":"","en":"Invoices due depend only on time: receivables (IFRS 15, para. 108). The handset transferred before billing creates a right conditional on continued performance: contract asset (IFRS 15, para. 107). Payments received before the service are contract liabilities (IFRS 15, para. 106). Capitalised commissions are contract costs (IFRS 15, para. 91), not to be confused with the contract asset (IFRS 15, para. 105).","es":""},"common_error":{"fr":"","en":"Classifying the right linked to the handset as a receivable: as long as payment depends on future performance under the plan, it is a contract asset.","es":""},"format":"CLASSIFICATION","categories":[{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Receivable","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"CONTRACT_COST_ASSET","text":{"fr":"","en":"Contract cost asset","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Monthly plan invoices issued, payable within 20 days","es":""},"category":"RECEIVABLE"},{"id":"I2","text":{"fr":"","en":"24-month plan with a handset delivered on signature: revenue recognised exceeds amounts billed to date","es":""},"category":"CONTRACT_ASSET"},{"id":"I3","text":{"fr":"","en":"Business subscription paid in advance for the coming year","es":""},"category":"CONTRACT_LIABILITY"},{"id":"I4","text":{"fr":"","en":"Capitalised dealer commissions, incremental and recoverable","es":""},"category":"CONTRACT_COST_ASSET"},{"id":"I5","text":{"fr":"","en":"Prepaid top-ups not yet used","es":""},"category":"CONTRACT_LIABILITY"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000144","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","format":"MULTIPLE_CHOICE","context":"GENERIC","tested_point":"DISCLOSURE_CONTENT","difficulty":"BEGINNER","estimated_time_s":90,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-balances-disclosure"},"references":["IFRS 15 §116","IFRS 15 §119"],"exercise":{"prompt":{"fr":"","en":"Which of these items does IFRS 15 require for contract balances and performance obligations?","es":""},"explanation":{"fr":"","en":"Revenue from the opening contract liability is part of the contract balance disclosures (IFRS 15, para. 116). The usual timing of satisfaction, obligations for returns or refunds and types of warranties are part of the description of performance obligations (IFRS 15, para. 119).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revenue for the period that was included in the opening contract liability","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"When the performance obligations are typically satisfied","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Obligations for returns or refunds and types of warranties","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The margin earned on each significant contract","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 15 does not require a margin per contract.","es":""}},{"id":"E","text":{"fr":"","en":"A list of the names of customers with a contract asset","es":""},"correct":false,"feedback":{"fr":"","en":"No list of names is required: information is aggregated at the relevant level.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000145","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES","IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"REAL_ESTATE","tested_point":"CONTRACT_BALANCES_REVIEW","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"pitfalls"},"references":["IFRS 15 §105","IFRS 15 §106","IFRS 15 §107","IFRS 15 §108","IFRS 15 §116","IFRS 15 §121"],"exercise":{"prompt":{"fr":"","en":"A property developer has the draft statement of financial position and notes for its construction contracts reviewed. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"S2 applies the due-date rule (IFRS 15, para. 106), S4 the reference to IFRS 9 (IFRS 15, para. 107) and S5 the contract balance disclosure (IFRS 15, para. 116). S1, S3 and S6 are wrong: contract asset / receivable confusion, double presentation of one contract, expedient misapplied.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Work performed on lot A, billable only on delivery, is presented as trade receivables.","es":""},"erroneous":true,"correction":{"fr":"","en":"The right still depends on delivery: it is a contract asset (IFRS 15, paras. 107 and 108).","es":""}},{"id":"S2","text":{"fr":"","en":"For lot B, non-cancellable, the call for funds due and unpaid is presented as a receivable, against a contract liability.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"For lot C, both a contract asset of 50,000 and a contract liability of 30,000 are presented.","es":""},"erroneous":true,"correction":{"fr":"","en":"A single contract is presented as one position, here a contract asset of 20,000 (IFRS 15, para. 105).","es":""}},{"id":"S4","text":{"fr":"","en":"Impairment of contract assets is measured as for financial assets under IFRS 9.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"The note states revenue for the year that was included in the opening contract liability.","es":""},"erroneous":false},{"id":"S6","text":{"fr":"","en":"The remaining price of a 30-month contract is not disclosed, because half of it will be recognised within the year.","es":""},"erroneous":true,"correction":{"fr":"","en":"The expedient covers contracts with an original expected duration of one year or less (or a right to invoice corresponding to the value delivered), not the timing of the remainder (IFRS 15, para. 121).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000146","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"FACILITY_SERVICES","tested_point":"REMAINING_OBLIGATIONS_EXPEDIENT","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"performance-obligations-disclosure"},"references":["IFRS 15 §121","IFRS 15 §120"],"exercise":{"prompt":{"fr":"","en":"A cleaning company signed a 3-year contract with 9 months left to run. It may omit this contract from the disclosure of the remaining price solely because the remainder will be recognised within the next 12 months.","es":""},"explanation":{"fr":"","en":"False. The expedient covers an obligation that is part of a contract with an original expected duration of one year or less, or whose revenue follows the right to invoice corresponding directly to the value delivered (IFRS 15, para. 121). The original duration here is 3 years; unless the second condition is met, the remaining price is disclosed, with the expected timing (IFRS 15, para. 120).","es":""},"common_error":{"fr":"","en":"Reasoning on the remaining term: the criterion is the original expected duration of the contract.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000147","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"DOCUMENTATION","format":"MINI_CASE","context":"RETAIL","tested_point":"REVENUE_DISAGGREGATION_NOTE","difficulty":"ADVANCED","estimated_time_s":420,"lesson_id":"LS.IFRS15.000014","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disaggregation"},"references":["IFRS 15","IFRS 15 §114"],"exercise":{"prompt":{"fr":"","en":"Prepare the elements of Maisonia's revenue disaggregation note.","es":""},"explanation":{"fr":"","en":"A disaggregation note starts from revenue from contracts with customers, separated from other income, then breaks it down along the dimensions management uses to describe the business, reconciling it with segment information (IFRS 15, paras. 113 to 115, B87 to B89).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Maisonia, a home-furnishings retailer, sells in stores and online in France and Spain. In its investor presentations, management comments on sales by channel (stores, online) and by country. Maisonia also sublets retail space to other retailers; this rental income falls under IFRS 16 and is not presented separately in the statement of profit or loss (case data). Maisonia applies IFRS 8. Amounts in euros.","es":""},"exhibits":[{"title":{"fr":"","en":"Revenue for the year","es":""},"body":{"fr":"","en":"| Item | Amount |\n| --- | --- |\n| Store sales | 42,000,000 |\n| Online sales | 18,000,000 |\n| Sales made in France (all channels) | 45,000,000 |\n| Sublease rental income (IFRS 16) | 1,200,000 |\n| Total income in the statement of profit or loss | 61,200,000 |","es":""}}],"parts":[{"prompt":{"fr":"","en":"Calculate the amounts for the note.","es":""},"explanation":{"fr":"","en":"The rental income falls under IFRS 16 and is not presented separately: revenue from contracts with customers is disclosed separately, 61,200,000 − 1,200,000 = 60,000,000 (IFRS 15, para. 113). Spain: 60,000,000 − 45,000,000 = 15,000,000; check by channel: 42,000,000 + 18,000,000 = 60,000,000.","es":""},"common_error":{"fr":"","en":"Including sublease rents in revenue from contracts with customers: they fall under IFRS 16.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total income in profit or loss","es":""},"value":"61200000","unit":"EUR"},{"label":{"fr":"","en":"Sublease rental income","es":""},"value":"1200000","unit":"EUR"},{"label":{"fr":"","en":"Sales made in France","es":""},"value":"45000000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue from contracts with customers","es":""},"answer":60000000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Sales made in Spain","es":""},"answer":15000000,"tolerance":0,"unit":"EUR"}],"id":"P1","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Revenue from contracts with customers","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total income in profit or loss","es":""},"value":61200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Sublease rental income","es":""},"value":1200000,"unit":"EUR"}],"result":60000000,"unit":"EUR","rationale":{"fr":"","en":"The rental income falls under IFRS 16 and is not presented separately: revenue from contracts with customers is disclosed separately, 61,200,000 − 1,200,000 = 60,000,000 (IFRS 15, para. 113).","es":""}},{"step":"S2","meaning":{"fr":"","en":"Sales made in Spain","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revenue from contracts with customers","es":""},"value":60000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Sales made in France","es":""},"value":45000000,"unit":"EUR"}],"result":15000000,"unit":"EUR"}],"references":["REF.IFRS15.113"]}},{"prompt":{"fr":"","en":"Which disaggregation categories are relevant for Maisonia?","es":""},"explanation":{"fr":"","en":"Categories must show how economic factors affect revenue (IFRS 15, para. 114); the entity looks in particular at its investor presentations (IFRS 15, para. B88). Geographical region is among the examples in a non-exhaustive list (IFRS 15, para. B89); the channel is retained because management uses it to describe the business. The extent of disaggregation depends on facts and circumstances (IFRS 15, para. B87).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By sales channel (stores, online)","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"By country (France, Spain)","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A single total figure, disaggregation being optional","es":""},"correct":false,"feedback":{"fr":"","en":"Disaggregation is required; a single total does not show the effect of economic factors.","es":""}},{"id":"D","text":{"fr":"","en":"By store, with the name of each manager","es":""},"correct":false,"feedback":{"fr":"","en":"This level of detail would obscure useful information without reflecting how management presents the business.","es":""}}],"id":"P2","dimension":"PROFESSIONAL_JUDGMENT"},{"prompt":{"fr":"","en":"As Maisonia applies IFRS 8, it must provide sufficient information to understand the relationship between its disaggregation and the revenue reported for each segment.","es":""},"explanation":{"fr":"","en":"True: an entity applying IFRS 8 discloses sufficient information to enable users to understand the relationship between its revenue disaggregation and the revenue disclosed for each reportable segment (IFRS 15, para. 115).","es":""},"common_error":{"fr":"","en":"Presenting the disaggregation without linking it to segment information: the link with each segment's revenue must be explained.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000148","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"RIGHT_OF_RETURN_MEASUREMENT","difficulty":"INTERMEDIATE","estimated_time_s":210,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"numeric-example"},"references":["IFRS 15 §B21","IFRS 15 §B23","IFRS 15 §B25"],"exercise":{"prompt":{"fr":"","en":"A shoe website sells 5,000 pairs at 80, with a 30-day right of return for a refund. It expects 8% returns (an estimate that satisfies the constraint, case data). Each returned pair costs 5 to recover and loses 4 in value (case data). Calculate the amounts at the date of sale.","es":""},"explanation":{"fr":"","en":"Expected returns: 5,000 × 8% = 400 pairs. Revenue: 4,600 × 80 = 368,000; refund liability: 400 × 80 = 32,000 (IFRS 15, paras. B21 and B23). Asset: former carrying amount less recovery costs and loss in value, 400 × (45 − 5 − 4) = 14,400 (IFRS 15, para. B25). Cost of sales: 5,000 × 45 − 14,400 = 210,600.","es":""},"common_error":{"fr":"","en":"Measuring the asset at the selling price (400 × 80 = 32,000) or forgetting the loss in value (16,000).","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Pairs sold","es":""},"value":"5000","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price","es":""},"value":"80","unit":"EUR"},{"label":{"fr":"","en":"Unit cost in inventory","es":""},"value":"45","unit":"EUR"},{"label":{"fr":"","en":"Expected returns","es":""},"value":"8","unit":"PERCENT"},{"label":{"fr":"","en":"Recovery cost per pair","es":""},"value":"5","unit":"EUR"},{"label":{"fr":"","en":"Loss in value per returned pair","es":""},"value":"4","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue","es":""},"answer":368000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Refund liability","es":""},"answer":32000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Asset for the right to recover products","es":""},"answer":14400,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Cost of sales","es":""},"answer":210600,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Refund liability","es":""},"expression":"(a * b) * c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Pairs sold","es":""},"value":5000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Expected returns","es":""},"value":8,"unit":"PERCENT"},{"symbol":"c","meaning":{"fr":"","en":"Unit selling price","es":""},"value":80,"unit":"EUR"}],"result":32000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Asset for the right to recover products","es":""},"expression":"(a * b) * (c - d - e)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Pairs sold","es":""},"value":5000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Expected returns","es":""},"value":8,"unit":"PERCENT"},{"symbol":"c","meaning":{"fr":"","en":"Unit cost in inventory","es":""},"value":45,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Recovery cost per pair","es":""},"value":5,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Loss in value per returned pair","es":""},"value":4,"unit":"EUR"}],"result":14400,"unit":"EUR","rationale":{"fr":"","en":"Asset: former carrying amount less recovery costs and loss in value, 400 × (45 − 5 − 4) = 14,400 (IFRS 15, para. B25).","es":""}},{"step":"S4","meaning":{"fr":"","en":"Cost of sales","es":""},"expression":"a * b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Pairs sold","es":""},"value":5000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit cost in inventory","es":""},"value":45,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Asset for the right to recover products","es":""},"value":14400,"unit":"EUR"}],"result":210600,"unit":"EUR"}],"references":["REF.IFRS15.B21","REF.IFRS15.B23","REF.IFRS15.B25"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000149","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"CALCULATION","format":"CALCULATION","context":"AUTOMOTIVE","tested_point":"RIGHT_OF_RETURN_REMEASUREMENT","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-remeasurement"},"references":["IFRS 15 §B24","IFRS 15 §B25"],"exercise":{"prompt":{"fr":"","en":"An auto-parts distributor sold 10,000 filters at 30 to garages, with a right of return. At the sale, it expected 600 returns (unit cost 18, recovery cost 1 per filter). At the reporting date, no filter has been returned yet, but it now expects 900 returns (case data). Calculate the closing adjustments.","es":""},"explanation":{"fr":"","en":"At each reporting date, the entity updates its estimate of returns and adjusts the liability against revenue (IFRS 15, para. B24): 900 × 30 = 27,000, against 600 × 30 = 18,000, i.e. 9,000 less revenue. The asset is remeasured in the same way (IFRS 15, para. B25): 900 × (18 − 1) = 15,300, against 10,200, i.e. 5,100 less cost of sales. Net effect on margin: − 3,900.","es":""},"common_error":{"fr":"","en":"Recording the increase in the liability as a selling expense: the adjustment is made to revenue.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Expected returns at the sale","es":""},"value":"600","unit":"UNITS"},{"label":{"fr":"","en":"Expected returns at the reporting date","es":""},"value":"900","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price","es":""},"value":"30","unit":"EUR"},{"label":{"fr":"","en":"Unit cost in inventory","es":""},"value":"18","unit":"EUR"},{"label":{"fr":"","en":"Recovery cost per filter","es":""},"value":"1","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Refund liability at the reporting date","es":""},"answer":27000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Decrease in revenue","es":""},"answer":9000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Asset for the right to recover products at the reporting date","es":""},"answer":15300,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Decrease in cost of sales","es":""},"answer":5100,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Refund liability at the reporting date","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected returns at the reporting date","es":""},"value":900,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit selling price","es":""},"value":30,"unit":"EUR"}],"result":27000,"unit":"EUR","rationale":{"fr":"","en":"At each reporting date, the entity updates its estimate of returns and adjusts the liability against revenue (IFRS 15, para. B24): 900 × 30 = 27,000, against 600 × 30 = 18,000, i.e. 9,000 less revenue.","es":""}},{"step":"S3","meaning":{"fr":"","en":"Asset for the right to recover products at the reporting date","es":""},"expression":"a * (b - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected returns at the reporting date","es":""},"value":900,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit cost in inventory","es":""},"value":18,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Recovery cost per filter","es":""},"value":1,"unit":"EUR"}],"result":15300,"unit":"EUR","rationale":{"fr":"","en":"The asset is remeasured in the same way (IFRS 15, para. B25): 900 × (18 − 1) = 15,300, against 10,200, i.e. 5,100 less cost of sales.","es":""}}],"references":["REF.IFRS15.B24","REF.IFRS15.B25"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000150","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"SERVICE_WARRANTY_ALLOCATION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"numeric-example"},"references":["IFRS 15 §B29","IFRS 15 §B30","IFRS 15 §74"],"exercise":{"prompt":{"fr":"","en":"A manufacturer sells a commercial dishwasher for 9,500. The price includes the one-year legal conformity warranty (not sold separately) and a 3-year maintenance pack, which the manufacturer also sells separately. Stand-alone selling prices: machine alone 9,000; pack 1,800 (case data). Teaching assumption: pack revenue spread evenly over 3 years. Calculate the allocation (to the cent).","es":""},"explanation":{"fr":"","en":"The pack, sold separately, is a performance obligation that receives part of the price (IFRS 15, para. B29). The legal warranty, not sold separately and limited to conformity, falls under IAS 37 and receives nothing (IFRS 15, para. B30). Allocation in proportion to stand-alone selling prices (IFRS 15, para. 74): 9,500 × 9,000 / 10,800 = 7,916.67; 9,500 − 7,916.67 = 1,583.33; 1,583.33 / 3 = 527.78 a year (straight-line pattern = assumption).","es":""},"common_error":{"fr":"","en":"Allocating 1,800 to the pack (its full stand-alone price) and 7,700 to the machine: the implicit discount is spread between the two obligations.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Contract price","es":""},"value":"9500","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the machine","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the maintenance pack","es":""},"value":"1800","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Price allocated to the machine","es":""},"answer":7916.67,"tolerance":0.01,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Price allocated to the maintenance pack","es":""},"answer":1583.33,"tolerance":0.01,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Annual pack revenue","es":""},"answer":527.78,"tolerance":0.01,"unit":"EUR"}],"formula":{"lines":[{"step":"S2","meaning":{"fr":"","en":"Price allocated to the maintenance pack","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract price","es":""},"value":9500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Price allocated to the machine","es":""},"value":7916.67,"unit":"EUR"}],"result":1583.33,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Annual pack revenue","es":""},"expression":"a / 3","variables":[{"symbol":"a","meaning":{"fr":"","en":"Price allocated to the maintenance pack","es":""},"value":1583.33,"unit":"EUR"}],"result":527.78,"unit":"EUR"}],"rationale":{"fr":"","en":"The pack, sold separately, is a performance obligation that receives part of the price (IFRS 15, para. B29).","es":""},"references":["REF.IFRS15.B29","REF.IFRS15.B30","REF.IFRS15.74"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000151","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"MEDIA","tested_point":"RIGHT_OF_RETURN_SALE_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":210,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"entry"},"references":["IFRS 15 §B21","IFRS 15 §B23","IFRS 15 §B25"],"exercise":{"prompt":{"fr":"","en":"A publisher delivers on credit 3,000 books at 15 to bookshops, which may return unsold copies for a credit note. Unit cost in inventory: 6; expected returns: 20% (an estimate that satisfies the constraint); recovery cost: 0.50 per book (case data; perpetual inventory, taxes ignored). Record the delivery entry; the first account is given.","es":""},"explanation":{"fr":"","en":"Expected returns: 600 books. Revenue: 2,400 × 15 = 36,000; refund liability: 600 × 15 = 9,000 (IFRS 15, paras. B21 and B23). Asset: 600 × (6 − 0.50) = 3,300 (IFRS 15, para. B25); cost of sales: 18,000 − 3,300 = 14,700. Check: debits 63,000 = credits 63,000.","es":""},"common_error":{"fr":"","en":"Crediting 45,000 to revenue and then recording a provision for returns: revenue is recognised net of expected returns.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"TRADE_RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"REFUND_LIABILITY","text":{"fr":"","en":"Refund liability","es":""}},{"id":"COST_OF_SALES","text":{"fr":"","en":"Cost of sales","es":""}},{"id":"RIGHT_TO_RECOVER_ASSET","text":{"fr":"","en":"Asset for the right to recover products","es":""}},{"id":"INVENTORIES","text":{"fr":"","en":"Inventories","es":""}},{"id":"PROVISION_RETURNS","text":{"fr":"","en":"Provision for returns (expense)","es":""}}],"lines":[{"id":"L1","account":"TRADE_RECEIVABLE","side":"DEBIT","amount":45000,"given":["account","side"]},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":36000},{"id":"L3","account":"REFUND_LIABILITY","side":"CREDIT","amount":9000},{"id":"L4","account":"COST_OF_SALES","side":"DEBIT","amount":14700},{"id":"L5","account":"RIGHT_TO_RECOVER_ASSET","side":"DEBIT","amount":3300},{"id":"L6","account":"INVENTORIES","side":"CREDIT","amount":18000}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000152","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"SPORTS_RETAIL","tested_point":"RIGHT_OF_RETURN_REMEASUREMENT_ENTRY","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-remeasurement"},"references":["IFRS 15 §B24","IFRS 15 §B25"],"exercise":{"prompt":{"fr":"","en":"A sports retailer carries a refund liability of 12,000 (300 exercise bikes expected to be returned, sold at 40) and an asset for the right to recover products of 6,600 (300 × 22). At the reporting date, it expects 375 returns; none has yet occurred (case data). Record the remeasurement entries.","es":""},"explanation":{"fr":"","en":"Liability: 375 × 40 = 15,000, i.e. + 3,000, recognised as a reduction of revenue (IFRS 15, para. B24). Asset: 375 × 22 = 8,250, i.e. + 1,650, as a reduction of cost of sales (IFRS 15, para. B25). The two amounts remain presented separately.","es":""},"common_error":{"fr":"","en":"Recording a single net entry of 1,350 on the liability: the asset and the liability are remeasured and presented separately.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"REFUND_LIABILITY","text":{"fr":"","en":"Refund liability","es":""}},{"id":"RIGHT_TO_RECOVER_ASSET","text":{"fr":"","en":"Asset for the right to recover products","es":""}},{"id":"COST_OF_SALES","text":{"fr":"","en":"Cost of sales","es":""}},{"id":"PROVISION_RETURNS","text":{"fr":"","en":"Provision for returns (expense)","es":""}},{"id":"INVENTORIES","text":{"fr":"","en":"Inventories","es":""}}],"lines":[{"id":"L1","account":"REVENUE","side":"DEBIT","amount":3000},{"id":"L2","account":"REFUND_LIABILITY","side":"CREDIT","amount":3000},{"id":"L3","account":"RIGHT_TO_RECOVER_ASSET","side":"DEBIT","amount":1650},{"id":"L4","account":"COST_OF_SALES","side":"CREDIT","amount":1650}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000153","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.APPLICATION.WARRANTIES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"HOME_FURNISHING","tested_point":"RETURN_EXCHANGE_DEFECT","difficulty":"BEGINNER","estimated_time_s":120,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15 §B20","IFRS 15 §B21","IFRS 15 §B26","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"A bedding and furniture seller receives several requests. Classify each according to the IFRS 15 requirements that apply.","es":""},"explanation":{"fr":"","en":"Returning a product for a refund or a credit note falls under the right of return (IFRS 15, paras. B20 and B21). An exchange for a product of the same type, quality, condition and price is not a return (IFRS 15, para. B26). Replacing a defective product falls under warranties (IFRS 15, para. B27).","es":""},"common_error":{"fr":"","en":"Treating an exchange for the same model as a return, or a defective product as a right of return.","es":""},"format":"CLASSIFICATION","categories":[{"id":"RETURN","text":{"fr":"","en":"Right of return","es":""}},{"id":"EXCHANGE","text":{"fr":"","en":"Exchange (not a return)","es":""}},{"id":"WARRANTY","text":{"fr":"","en":"Warranties (defective product)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"A mattress returned during the 100-night trial period, for a refund","es":""},"category":"RETURN"},{"id":"I2","text":{"fr":"","en":"A sofa exchanged for the same model in another colour, at the same price","es":""},"category":"EXCHANGE"},{"id":"I3","text":{"fr":"","en":"A chair with a broken leg, replaced by a chair in good condition","es":""},"category":"WARRANTY"},{"id":"I4","text":{"fr":"","en":"A lamp brought back intact for a credit note on future purchases","es":""},"category":"RETURN"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000154","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"AUTOMOTIVE","tested_point":"WARRANTY_TYPE_CLASSIFICATION","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"warranty-types"},"references":["IFRS 15 §B29","IFRS 15 §B30","IFRS 15","IFRS 15 §B32"],"exercise":{"prompt":{"fr":"","en":"A carmaker analyses the commitments linked to the sale of its vehicles. Classify each one (case data).","es":""},"explanation":{"fr":"","en":"Warranty sold separately: performance obligation (IFRS 15, para. B29). Warranty not sold separately and limited to conformity: IAS 37 (IFRS 15, para. B30); a legal requirement and tasks needed to restore conformity, such as transporting the defective product, do not indicate a service (IFRS 15, para. B31). Annual servicing goes beyond conformity: a service, hence a performance obligation (IFRS 15, para. B32). Legal indemnities and infringement: IAS 37 (IFRS 15, para. B33).","es":""},"common_error":{"fr":"","en":"Classifying the towing as a service: it is a task needed to bring the vehicle back into conformity.","es":""},"format":"CLASSIFICATION","categories":[{"id":"PERFORMANCE_OBLIGATION","text":{"fr":"","en":"Performance obligation (part of the price allocated)","es":""}},{"id":"ASSURANCE_IAS37","text":{"fr":"","en":"Assurance-type warranty: IAS 37","es":""}},{"id":"INDEMNITY_IAS37","text":{"fr":"","en":"Indemnity: IAS 37, not a performance obligation","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Legal 2-year warranty covering manufacturing defects, not sold separately","es":""},"category":"ASSURANCE_IAS37"},{"id":"I2","text":{"fr":"","en":"3-year extended warranty offered as an option at a price of 900","es":""},"category":"PERFORMANCE_OBLIGATION"},{"id":"I3","text":{"fr":"","en":"Free annual servicing for 3 years, included in the price","es":""},"category":"PERFORMANCE_OBLIGATION"},{"id":"I4","text":{"fr":"","en":"Towing a broken-down vehicle to the workshop during the legal warranty, to repair the defect","es":""},"category":"ASSURANCE_IAS37"},{"id":"I5","text":{"fr":"","en":"Legal obligation to compensate for damage caused by a vehicle defect","es":""},"category":"INDEMNITY_IAS37"},{"id":"I6","text":{"fr":"","en":"Commitment to indemnify dealers for trademark infringement claims","es":""},"category":"INDEMNITY_IAS37"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000155","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"ELECTRONICS","tested_point":"ASSURANCE_WARRANTY_NOT_SOLD_SEPARATELY","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"warranty-types"},"references":["IFRS 15 §B29","IFRS 15 §B30"],"exercise":{"prompt":{"fr":"","en":"A TV manufacturer includes in the price a one-year warranty limited to repairing defects; it is not sold separately. It also offers, for a fee, a 2-year extension, which this customer has not bought. How should the included one-year warranty be accounted for?","es":""},"explanation":{"fr":"","en":"A warranty that the customer cannot purchase separately and that only provides assurance of conformity falls under IAS 37 (IFRS 15, para. B30). Only a separately purchasable warranty, such as the extension, is a performance obligation to which part of the price is allocated when it is sold (IFRS 15, para. B29).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Under IAS 37, with no part of the price allocated","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As a performance obligation, since the manufacturer sells extensions","es":""},"correct":false,"feedback":{"fr":"","en":"It is the extension that is sold separately; the included warranty is not and is limited to conformity.","es":""}},{"id":"C","text":{"fr":"","en":"As a refund liability","es":""},"correct":false,"feedback":{"fr":"","en":"A refund liability relates to expected returns, not to repairing defects.","es":""}},{"id":"D","text":{"fr":"","en":"By deferring all revenue until the end of the warranty","es":""},"correct":false,"feedback":{"fr":"","en":"The TV is transferred on delivery; the conformity warranty does not delay revenue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000156","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.APPLICATION.WARRANTIES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"E_COMMERCE","tested_point":"RETURNS_WARRANTIES_REVIEW","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"pitfalls"},"references":["IFRS 15 §B21","IFRS 15 §B22","IFRS 15 §B24","IFRS 15 §B25","IFRS 15 §B26","IFRS 15 §B30"],"exercise":{"prompt":{"fr":"","en":"An online appliance retailer has its closing memo on its sales with a 30-day right of return and its warranties reviewed. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"S3 (IFRS 15, para. B22), S4 (IFRS 15, para. B24) and S6 (IFRS 15, para. B26) are correct. S1, S2, S5 and S7 are wrong: gross revenue, asset at selling price, offsetting, price allocated to an assurance-type warranty.","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Revenue is recognised for the full sales price; expected returns are covered by a provision in expenses.","es":""},"erroneous":true,"correction":{"fr":"","en":"Revenue excludes expected returns, which go to a refund liability (IFRS 15, para. B21).","es":""}},{"id":"S2","text":{"fr":"","en":"The asset for the right to recover products is measured at the selling price of the appliances expected to be returned.","es":""},"erroneous":true,"correction":{"fr":"","en":"It is measured by reference to the former carrying amount, less recovery costs and losses in value (IFRS 15, para. B25).","es":""}},{"id":"S3","text":{"fr":"","en":"No part of the price is allocated to the commitment to take back appliances for 30 days.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"The estimate of returns, revised at the reporting date, is adjusted against revenue.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"The refund liability is presented net of the recovery asset.","es":""},"erroneous":true,"correction":{"fr":"","en":"The asset is presented separately from the refund liability (IFRS 15, para. B25).","es":""}},{"id":"S6","text":{"fr":"","en":"Exchanges of a vacuum cleaner for the same model in another colour are not counted as returns.","es":""},"erroneous":false},{"id":"S7","text":{"fr":"","en":"Part of the price is allocated to the legal conformity warranty, not sold separately.","es":""},"erroneous":true,"correction":{"fr":"","en":"This warranty falls under IAS 37 and receives no part of the price (IFRS 15, para. B30).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000157","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.APPLICATION.WARRANTIES"],"dimension":"APPLICATION","format":"MINI_CASE","context":"TELECOM","tested_point":"RETURN_AND_WARRANTY_SYNTHESIS","difficulty":"EXPERT","estimated_time_s":540,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"how"},"references":["IFRS 15 §B21","IFRS 15 §B22","IFRS 15 §B23","IFRS 15 §B29","IFRS 15 §B30","IFRS 15","IFRS 15 §B32","IFRS 15 §74"],"exercise":{"prompt":{"fr":"","en":"Analyse the promises in the Volténa pack, then quantify the sale.","es":""},"explanation":{"fr":"","en":"Approach: identify the promises (separately sold warranty, assurance warranty, right of return), exclude expected returns from the price, then allocate the expected consideration based on stand-alone selling prices (IFRS 15, paras. B21 to B23, B29, B30 and B32).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Volténa, a phone operator, sells for cash, without a subscription, a 'smartphone + Year-3 Protection' pack priced at 630. The pack includes the phone, the 2-year legal conformity warranty (not sold separately) and an extension covering year 3, which Volténa also sells on its own. Customers may return the complete pack within 14 days for a full refund. Stand-alone selling prices: phone 600; extension 60. In January, Volténa sells 1,000 packs and expects 20 returns (an estimate that satisfies the constraint). Case data; cost of sales is not covered here.","es":""},"parts":[{"prompt":{"fr":"","en":"Classify each promise in the pack.","es":""},"explanation":{"fr":"","en":"The extension, also sold on its own, is a performance obligation (IFRS 15, para. B29). The legal warranty, not sold separately and limited to conformity, falls under IAS 37 (IFRS 15, para. B30). Standing ready to accept returns is not a performance obligation (IFRS 15, para. B22).","es":""},"common_error":{"fr":"","en":"Seeing a performance obligation in the legal warranty or the return commitment: the former falls under IAS 37; the latter is not one.","es":""},"format":"CLASSIFICATION","categories":[{"id":"PO","text":{"fr":"","en":"Performance obligation","es":""}},{"id":"NOT_PO","text":{"fr":"","en":"Not a performance obligation","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"The phone","es":""},"category":"PO"},{"id":"I2","text":{"fr":"","en":"The extension covering year 3","es":""},"category":"PO"},{"id":"I3","text":{"fr":"","en":"The 2-year legal conformity warranty","es":""},"category":"NOT_PO"},{"id":"I4","text":{"fr":"","en":"The commitment to take back the pack for 14 days","es":""},"category":"NOT_PO"}],"id":"P1","dimension":"RECOGNITION"},{"prompt":{"fr":"","en":"Quantify the January sale (to the cent).","es":""},"explanation":{"fr":"","en":"Refund liability: 20 × 630 = 12,600; expected consideration: 980 × 630 = 617,400 (IFRS 15, paras. B21 and B23). Allocation in proportion to stand-alone selling prices, 600 / 660 and 60 / 660 (IFRS 15, para. 74): phones 617,400 × 600 / 660 = 561,272.73, recognised on delivery; extension 617,400 − 561,272.73 = 56,127.27, held as a contract liability until year 3. An allocation per pack rounded to the cent (572.73 and 57.27 × 980) gives differences of a few euros, which are accepted.","es":""},"common_error":{"fr":"","en":"Allocating the price of all 1,000 packs without excluding expected returns, or recognising the extension at sale.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Packs sold","es":""},"value":"1000","unit":"UNITS"},{"label":{"fr":"","en":"Pack price","es":""},"value":"630","unit":"EUR"},{"label":{"fr":"","en":"Expected returns","es":""},"value":"20","unit":"UNITS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Refund liability","es":""},"answer":12600,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Expected consideration (transaction price)","es":""},"answer":617400,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Revenue recognised on delivery of the phones","es":""},"answer":561272.73,"tolerance":3,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Contract liability for the extension","es":""},"answer":56127.27,"tolerance":3,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Refund liability","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected returns","es":""},"value":20,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Pack price","es":""},"value":630,"unit":"EUR"}],"result":12600,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Contract liability for the extension","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected consideration (transaction price)","es":""},"value":617400,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue recognised on delivery of the phones","es":""},"value":561272.73,"unit":"EUR"}],"result":56127.27,"unit":"EUR"}],"references":["REF.IFRS15.B21","REF.IFRS15.B23","REF.IFRS15.74"]}},{"prompt":{"fr":"","en":"Volténa is considering adding to the pack, without selling it separately, an annual battery check for 3 years. What is the main effect?","es":""},"explanation":{"fr":"","en":"A warranty not sold separately falls under IAS 37 unless it provides a service in addition to conformity (IFRS 15, para. B30); a periodic check, unrelated to any defect, involves tasks beyond restoring conformity (IFRS 15, para. B31): the most likely analysis, to be documented, sees it as such a service, accounted for as a performance obligation (IFRS 15, para. B32). Its stand-alone selling price will have to be estimated.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"This check goes beyond conformity: it is analysed as a service, hence a performance obligation that receives part of the price","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"No effect: a warranty not sold separately always falls under IAS 37","es":""},"correct":false,"feedback":{"fr":"","en":"IAS 37 applies unless the warranty provides a service in addition to the assurance of conformity.","es":""}},{"id":"C","text":{"fr":"","en":"The check increases the refund liability","es":""},"correct":false,"feedback":{"fr":"","en":"The refund liability depends only on expected returns.","es":""}}],"id":"P3","dimension":"PROFESSIONAL_JUDGMENT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000158","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"CALCULATION","format":"TRUE_FALSE","context":"RETAIL","tested_point":"RETURN_REVENUE_AND_REFUND_LIABILITY","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IFRS15.000015","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B21","IFRS 15 §B22"],"exercise":{"prompt":{"fr":"","en":"Case data: a clothing store sells 1,000 items at 50 each, with 30 days to return them for a refund. Based on its history, it estimates that 5% of the items will be returned; this estimate is considered reliable and no further adjustment is needed (teaching assumption). True or false: on sale, it recognises revenue of 47,500 and a refund liability of 2,500.","es":""},"explanation":{"fr":"","en":"True. Revenue is recognised for the consideration to which the entity expects to be entitled, so excluding the items expected to be returned: 950 × 50 = 47,500; the 50 items expected to be returned give a refund liability of 2,500 (IFRS 15, para. B21). The entity also recognises an asset for its right to recover those items, with an adjustment to cost of sales (IFRS 15, para. B21). No part of the price is allocated to standing ready to accept returns (IFRS 15, para. B22).","es":""},"common_error":{"fr":"","en":"Recognising 50,000 of revenue and then a provision for returns, instead of excluding the consideration for expected returns from the outset.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000159","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"APPLICATION","format":"MINI_CASE","context":"RETAIL","tested_point":"MARKETPLACE_AGENT_NET_REVENUE","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"how"},"references":["IFRS 15 §B34A","IFRS 15 §B35","IFRS 15 §B36","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"Analyse Bazarine's role and quantify its revenue for year N.","es":""},"explanation":{"fr":"","en":"Specified good: the item (IFRS 15, para. B34A); no control before transfer despite cash collection and fraud risk (IFRS 15, paras. B35 and B37); agent, revenue of 480,000 (IFRS 15, para. B36).","es":""},"common_error":{"fr":"","en":"Recognising 4,000,000 of revenue because all the cash passes through the platform.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Bazarine (fictitious entity) runs an online marketplace for decorative items, supplied by 300 independent shops. Case data: each shop sets its prices, keeps its stock, ships orders, handles returns and answers for defects. Bazarine collects the customer's payment, keeps a 12% commission and passes 88% to the shop within 7 days; it bears losses on fraudulent payments. In N, customers paid a total of 4,000,000 on the platform.","es":""},"parts":[{"prompt":{"fr":"","en":"What is Bazarine's role for the items sold?","es":""},"explanation":{"fr":"","en":"The shops set the price, hold the stock and answer for fulfilment: all three indicators point to control by the shops (IFRS 15, para. B37). Bazarine arranges for third parties to provide the items: it is an agent (IFRS 15, para. B36).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Principal, because it collects the price paid by the customer","es":""},"correct":false,"feedback":{"fr":"","en":"Collecting cash is not an indicator of control; Bazarine does not control the items before transfer (IFRS 15, paras. B35 and B37).","es":""}},{"id":"B","text":{"fr":"","en":"Principal, because it bears losses on fraudulent payments","es":""},"correct":false,"feedback":{"fr":"","en":"Credit or fraud risk on the payment is not a listed indicator (IFRS 15, para. B37).","es":""}},{"id":"C","text":{"fr":"","en":"Agent: it arranges the sale of the shops' items without controlling them","es":""},"correct":true}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the amounts for year N.","es":""},"explanation":{"fr":"","en":"Agent's revenue = commission: 4,000,000 × 12% = 480,000 (IFRS 15, para. B36). The 4,000,000 × 88% = 3,520,000 is owed to the shops, not revenue.","es":""},"common_error":{"fr":"","en":"Recognising the 4,000,000 paid by customers as revenue: the agent keeps only its commission.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total paid by customers","es":""},"value":"4000000","unit":"EUR"},{"label":{"fr":"","en":"Commission retained","es":""},"value":"12","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Bazarine's revenue","es":""},"answer":480000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Total amount owed to the shops","es":""},"answer":3520000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Bazarine's revenue","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total paid by customers","es":""},"value":4000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Commission retained","es":""},"value":12,"unit":"PERCENT"}],"result":480000,"unit":"EUR"}],"rationale":{"fr":"","en":"Agent's revenue = commission: 4,000,000 × 12% = 480,000 (IFRS 15, para. B36).","es":""},"references":["REF.IFRS15.B36"]}},{"prompt":{"fr":"","en":"To identify the specified good, Bazarine must ask what is transferred to the end customer, here the decorative item itself.","es":""},"explanation":{"fr":"","en":"True. The analysis starts by identifying the specified goods or services provided to the customer, then assesses whether the entity controls each of them before transfer (IFRS 15, para. B34A).","es":""},"common_error":{"fr":"","en":"Starting from the platform's service without first identifying the specified good transferred to the end customer.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000160","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"ANALYSIS","format":"MINI_CASE","context":"HOSPITALITY","tested_point":"PREPURCHASED_ROOMS_VS_BOOKED_ROOMS","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"control-before-transfer"},"references":["IFRS 15 §B34","IFRS 15 §B34A","IFRS 15 §B35A","IFRS 15 §B35B","IFRS 15 §B36","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"Determine Escapéa's role for each type of hotel night and calculate its revenue.","es":""},"explanation":{"fr":"","en":"Two specified goods, two conclusions: principal for the pre-purchased nights, agent for the nights merely booked (IFRS 15, paras. B34, B35A, B35B and B36).","es":""},"common_error":{"fr":"","en":"Applying a single conclusion to the tour operator's whole hotel business.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The tour operator Escapéa (fictitious entity) sells hotel nights on the coast. Case data for summer N: (A) it bought in advance from a hotel 1,200 nights at 70, non-refundable and non-cancellable; it alone sets the resale price, 110, and answers to the customer for the booking; 1,000 nights were resold. (B) For other hotels, it displays available rooms on its website; each hotel sets its price (130 per night) and answers for the stay; Escapéa receives 15% of the price, with no purchase commitment; 800 nights were sold.","es":""},"parts":[{"prompt":{"fr":"","en":"For the nights in block (A), Escapéa is:","es":""},"explanation":{"fr":"","en":"Escapéa obtains the right to the nights in advance and then transfers it (IFRS 15, para. B35A); it bears the risk of unsold nights, sets the price and answers for the booking (IFRS 15, para. B37).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Principal: it controls the right to the nights, obtained from the hotel before transferring it to the customer","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Agent, because the hotel physically provides the room","es":""},"correct":false,"feedback":{"fr":"","en":"The specified good may be a right to a service provided by a third party; Escapéa controls that right before reselling it (IFRS 15, paras. B34A and B35A).","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"For the nights in block (B), Escapéa is:","es":""},"explanation":{"fr":"","en":"No inventory, no pricing discretion and no responsibility for the stay: Escapéa does not control the block (B) nights before transfer; it is an agent and recognises its commission (IFRS 15, paras. B36 and B37).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Principal, as for block (A), since it is the same standard contract with the traveller","es":""},"correct":false,"feedback":{"fr":"","en":"The role is assessed for each specified good or service; the facts of block (B) are different (IFRS 15, para. B34).","es":""}},{"id":"B","text":{"fr":"","en":"Agent: it merely arranges for the hotels to provide the nights","es":""},"correct":true}],"id":"P2","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate Escapéa's revenue for summer N.","es":""},"explanation":{"fr":"","en":"Block (A), principal: 1,000 × 110 = 110,000 at the gross amount (IFRS 15, para. B35B). Block (B), agent: 800 × 130 × 15% = 15,600 (IFRS 15, para. B36). Total 125,600. The cost of the 1,200 nights bought (84,000) is an expense of block (A).","es":""},"common_error":{"fr":"","en":"Applying the same treatment to both blocks: principal for (A), gross; agent for (B), commission only.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Block (A) nights resold","es":""},"value":"1000","unit":"UNITS"},{"label":{"fr":"","en":"Resale price (A)","es":""},"value":"110","unit":"EUR"},{"label":{"fr":"","en":"Block (B) nights sold","es":""},"value":"800","unit":"UNITS"},{"label":{"fr":"","en":"Price set by the hotel (B)","es":""},"value":"130","unit":"EUR"},{"label":{"fr":"","en":"Commission (B)","es":""},"value":"15","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue from block (A)","es":""},"answer":110000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Revenue from block (B)","es":""},"answer":15600,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total revenue","es":""},"answer":125600,"tolerance":0,"unit":"EUR"}],"id":"P3","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Revenue from block (A)","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Block (A) nights resold","es":""},"value":1000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Resale price (A)","es":""},"value":110,"unit":"EUR"}],"result":110000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Revenue from block (B)","es":""},"expression":"a * b * c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Block (B) nights sold","es":""},"value":800,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Price set by the hotel (B)","es":""},"value":130,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Commission (B)","es":""},"value":15,"unit":"PERCENT"}],"result":15600,"unit":"EUR"}],"references":["REF.IFRS15.B35B","REF.IFRS15.B36"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000161","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"SOFTWARE","tested_point":"INTEGRATION_SERVICE_PRINCIPAL","difficulty":"EXPERT","estimated_time_s":240,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"judgment"},"references":["IFRS 15 §B35A","IFRS 15 §B35B","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"Analyse Nodalis's contract with the hospital.","es":""},"explanation":{"fr":"","en":"Significant integration service: Nodalis is the principal for the complete system and recognises 520,000 (IFRS 15, paras. B35A and B35B).","es":""},"common_error":{"fr":"","en":"Splitting the contract into purchased components and own services, whereas the customer is buying an integrated system.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The integrator Nodalis (fictitious entity) undertakes to deliver to a hospital a working patient-records system for a total price of 520,000. Case data: it buys servers (180,000) and database licences from a third-party publisher (60,000), develops the interfaces, configures and tests the whole, and is solely answerable to the hospital for the system working properly; the hospital cannot use the components separately for the intended purpose.","es":""},"parts":[{"prompt":{"fr":"","en":"Which situation best describes the control exercised by Nodalis?","es":""},"explanation":{"fr":"","en":"Nodalis integrates servers and licences into a system that it designs, tests and guarantees: it controls the third parties' inputs before delivering the specified good (IFRS 15, para. B35A(c)); primary responsibility for fulfilment confirms this reading (IFRS 15, para. B37).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It combines the third parties' inputs with its own services, through a significant integration service, to provide the specified system","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It controls nothing: servers and licences come from third parties","es":""},"correct":false,"feedback":{"fr":"","en":"A principal may control a third party's good that it integrates into a whole that it delivers (IFRS 15, para. B35A).","es":""}},{"id":"C","text":{"fr":"","en":"It is the principal for developing the interfaces and an agent for the servers and licences","es":""},"correct":false,"feedback":{"fr":"","en":"The components are not separate specified goods for the hospital; they are inputs to the single system Nodalis provides (IFRS 15, para. B35A).","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Nodalis must present revenue of 280,000, being the contract price less the cost of the servers and licences bought from third parties.","es":""},"explanation":{"fr":"","en":"False. As principal, Nodalis recognises the gross amount of 520,000 (IFRS 15, para. B35B); the 240,000 bought from third parties is a cost of the contract, not a deduction from revenue.","es":""},"common_error":{"fr":"","en":"Deducting third-party purchases from revenue when the entity is principal: it recognises the gross amount and those purchases as costs.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P2","dimension":"APPLICATION"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000162","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"GROSS_VERSUS_NET_AMOUNT","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"revenue-gross-or-net"},"references":["IFRS 15 §B35B","IFRS 15 §B36"],"exercise":{"prompt":{"fr":"","en":"Comptoir Delta (fictitious entity) sells industrial supplies on behalf of a manufacturer; it acts as an agent (conclusion given by the case). In N, it sold 4,000 units at 250, collected from customers, and keeps 15% of each sale. Calculate the amounts.","es":""},"explanation":{"fr":"","en":"Collections: 4,000 × 250 = 1,000,000. Payable to the manufacturer: 1,000,000 × 85% = 850,000. Agent's revenue, equal to the net amount retained: 150,000 (IFRS 15, para. B36). Had it been the principal, revenue would have been 1,000,000 (IFRS 15, para. B35B).","es":""},"common_error":{"fr":"","en":"Presenting 1,000,000 of revenue and 850,000 of cost of sales.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Units sold","es":""},"value":"4000","unit":"UNITS"},{"label":{"fr":"","en":"Unit price paid by the customer","es":""},"value":"250","unit":"EUR"},{"label":{"fr":"","en":"Share kept by Comptoir Delta","es":""},"value":"15","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Amount collected from customers","es":""},"answer":1000000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Amount owed to the manufacturer","es":""},"answer":850000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Comptoir Delta's revenue","es":""},"answer":150000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Amount collected from customers","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Units sold","es":""},"value":4000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit price paid by the customer","es":""},"value":250,"unit":"EUR"}],"result":1000000,"unit":"EUR"}],"rationale":{"fr":"","en":"Agent's revenue, equal to the net amount retained: 150,000 (IFRS 15, para. B36).","es":""},"references":["REF.IFRS15.B35B","REF.IFRS15.B36"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000163","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"CALCULATION","format":"CALCULATION","context":"TELECOM","tested_point":"AGENT_TIERED_COMMISSION","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"revenue-gross-or-net"},"references":["IFRS 15 §B36"],"exercise":{"prompt":{"fr":"","en":"The Phonéo shop (fictitious entity) sells mobile subscriptions on behalf of an operator; it acts as an agent (conclusion given by the case) and subscribers pay the operator directly (30 per month). Commission: 30 per subscription for the first 1,000 of the year, 45 per subscription beyond that. In N, 1,400 subscriptions were taken out, all final (case data). Calculate Phonéo's revenue.","es":""},"explanation":{"fr":"","en":"First tier: 1,000 × 30 = 30,000; second tier: 400 × 45 = 18,000; revenue 48,000. As an agent, Phonéo recognises only its commission, never the subscriptions paid to the operator (IFRS 15, para. B36).","es":""},"common_error":{"fr":"","en":"Applying 45 to all subscriptions (63,000) whereas the higher rate applies only beyond the thousandth.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Subscriptions taken out in N","es":""},"value":"1400","unit":"UNITS"},{"label":{"fr":"","en":"Commission up to 1,000 subscriptions","es":""},"value":"30","unit":"EUR"},{"label":{"fr":"","en":"Commission beyond 1,000 subscriptions","es":""},"value":"45","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Commission on the first tier","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Commission on the second tier","es":""},"answer":18000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Phonéo's revenue for N","es":""},"answer":48000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Commission on the first tier","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"per subscription for the first 1,000","es":""},"value":1000},{"symbol":"b","meaning":{"fr":"","en":"Commission up to 1,000 subscriptions","es":""},"value":30,"unit":"EUR"}],"result":30000,"unit":"EUR"}],"references":["REF.IFRS15.B36"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000164","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"RETAIL","tested_point":"PRINCIPAL_GROSS_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"entry"},"references":["IFRS 15 §B35A","IFRS 15 §B35B"],"exercise":{"prompt":{"fr":"","en":"The distributor Cyclora (fictitious entity) buys electric bikes from a manufacturer, holds them in stock, sets their price and answers for their conformity: it is the principal (conclusion given by the case). It sells a bike for cash for 2,400; the bike cost it 1,900. Record the entries for the sale.","es":""},"explanation":{"fr":"","en":"Cyclora controls the bike before transferring it (IFRS 15, para. B35A): it recognises gross revenue of 2,400 (IFRS 15, para. B35B) and derecognises the bike from inventory to cost of sales for 1,900. No payable to the manufacturer arises from the sale: the bike had already been bought.","es":""},"common_error":{"fr":"","en":"Recognising only the 500 margin as revenue, as an agent would.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"COST_OF_SALES","text":{"fr":"","en":"Cost of sales","es":""}},{"id":"INVENTORIES","text":{"fr":"","en":"Inventories","es":""}},{"id":"PAYABLE_THIRD_PARTY","text":{"fr":"","en":"Payable to the manufacturer (third party)","es":""}}],"lines":[{"id":"L1","account":"CASH","side":"DEBIT","amount":2400,"given":["account","side"]},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":2400},{"id":"L3","account":"COST_OF_SALES","side":"DEBIT","amount":1900},{"id":"L4","account":"INVENTORIES","side":"CREDIT","amount":1900}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000165","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"EDUCATION","tested_point":"AGENT_NET_ENTRY","difficulty":"INTERMEDIATE","estimated_time_s":120,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"entry"},"references":["IFRS 15 §B36"],"exercise":{"prompt":{"fr":"","en":"The Tutorama platform (fictitious entity) connects students with private tutors; each tutor sets the rate and gives the lessons; Tutorama is an agent (conclusion given by the case). A student pays 600 for 10 lessons, already given; Tutorama keeps 90 and owes 510 to the tutor. Record the entry for the collection.","es":""},"explanation":{"fr":"","en":"The agent recognises its commission as revenue, here the net amount retained of 90; the 510 is a payable to the tutor, with no revenue or cost of sales (IFRS 15, para. B36). As the lessons have been given, no contract liability remains.","es":""},"common_error":{"fr":"","en":"Crediting 600 to revenue and debiting 510 to cost of sales.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"PAYABLE_TUTOR","text":{"fr":"","en":"Payable to the tutor (third party)","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue (commission)","es":""}},{"id":"COST_OF_SALES","text":{"fr":"","en":"Cost of sales","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}}],"lines":[{"id":"L1","account":"CASH","side":"DEBIT","amount":600,"given":["account","side"]},{"id":"L2","account":"PAYABLE_TUTOR","side":"CREDIT","amount":510},{"id":"L3","account":"REVENUE","side":"CREDIT","amount":90}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000166","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"GENERIC","tested_point":"CONTROL_INDICATORS_SORTING","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"indicators"},"references":["IFRS 15 §B35","IFRS 15 §B37","IFRS 15 §B37A"],"exercise":{"prompt":{"fr":"","en":"A company sells the customer goods supplied by a third party. Classify each fact according to what it indicates for the control analysis.","es":""},"explanation":{"fr":"","en":"Primary responsibility for fulfilment, inventory risk and pricing discretion are the listed indicators (IFRS 15, para. B37); their weight depends on the contract (IFRS 15, para. B37A). Cash collection and credit risk are not among them: the question remains control before transfer (IFRS 15, para. B35).","es":""},"common_error":{"fr":"","en":"Treating credit risk as an indicator of a principal.","es":""},"format":"CLASSIFICATION","categories":[{"id":"PRINCIPAL","text":{"fr":"","en":"Sign that the entity has control (principal)","es":""}},{"id":"AGENT","text":{"fr":"","en":"Sign that the entity does not have control (agent)","es":""}},{"id":"NOT_LISTED","text":{"fr":"","en":"Fact not among the indicators","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"The entity alone answers to the customer for conformity and itself replaces defective items","es":""},"category":"PRINCIPAL"},{"id":"I2","text":{"fr":"","en":"The entity buys the items in advance, with no right of return to the supplier","es":""},"category":"PRINCIPAL"},{"id":"I3","text":{"fr":"","en":"The supplier sets the selling price to the customer, which the entity cannot change","es":""},"category":"AGENT"},{"id":"I4","text":{"fr":"","en":"The supplier delivers and answers for defects; the entity merely passes on the orders","es":""},"category":"AGENT"},{"id":"I5","text":{"fr":"","en":"The entity collects the customer's payment","es":""},"category":"NOT_LISTED"},{"id":"I6","text":{"fr":"","en":"The entity bears customers' bad debts","es":""},"category":"NOT_LISTED"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000167","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","format":"SINGLE_CHOICE","context":"ENERGY","tested_point":"MOMENTARY_TITLE_NOT_DECISIVE","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"control-before-transfer"},"references":["IFRS 15 §B35","IFRS 15 §B35A","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"A wood pellet trader is wondering about the role of legal title in the principal / agent analysis. Which statement is correct?","es":""},"explanation":{"fr":"","en":"The test is control of the specified good before transfer; legal title obtained only momentarily is not necessarily enough to show it (IFRS 15, para. B35).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Holding title, even for an instant before delivery to the customer, proves that the trader is the principal","es":""},"correct":false,"feedback":{"fr":"","en":"Momentary title does not necessarily show control (IFRS 15, para. B35).","es":""}},{"id":"B","text":{"fr":"","en":"Never holding title proves that the trader is an agent","es":""},"correct":false,"feedback":{"fr":"","en":"An entity may have control without title, for example a right to a service performed by a third party that it directs (IFRS 15, para. B35A).","es":""}},{"id":"C","text":{"fr":"","en":"Momentary title is not necessarily enough: the entity must assess whether the trader controls the pellets before they are transferred","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Title is irrelevant: only the price set by the trader counts","es":""},"correct":false,"feedback":{"fr":"","en":"Pricing discretion is one indicator among others, not a single criterion (IFRS 15, paras. B35 and B37).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000168","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"GENERIC","tested_point":"PRINCIPAL_AGENT_MEMO_ERRORS","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"pitfalls"},"references":["IFRS 15 §B34","IFRS 15 §B35","IFRS 15 §B36","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"The Partagéo platform (fictitious entity) offers DIY equipment for rent between private individuals; the owners set the rates, hand over the equipment and answer for it. Partagéo collects the rents and keeps 15%. Spot the incorrect statements in its analysis memo.","es":""},"explanation":{"fr":"","en":"Control is assessed for each specified good or service (IFRS 15, para. B34) using the B37 indicators, without relying on cash collection or credit risk; as an agent for the rental, Partagéo presents its net commission (IFRS 15, para. B36).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"We collect the rents from renters: we are therefore the principal.","es":""},"erroneous":true,"correction":{"fr":"","en":"Collecting cash does not show control of the specified good before transfer (IFRS 15, para. B35).","es":""}},{"id":"S2","text":{"fr":"","en":"We bear bad debts, which confirms our role as principal.","es":""},"erroneous":true,"correction":{"fr":"","en":"Credit risk is not among the indicators of control (IFRS 15, para. B37).","es":""}},{"id":"S3","text":{"fr":"","en":"The owners set their own rates, which argues against our control of the rental service.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"We performed the analysis separately for the equipment rental and for the 24-hour telephone assistance that our own teams provide.","es":""},"erroneous":false},{"id":"S5","text":{"fr":"","en":"We will present as revenue the 2,400,000 of rents collected in N and as expenses the 2,040,000 paid to the owners.","es":""},"erroneous":true,"correction":{"fr":"","en":"As an agent for the rental, Partagéo recognises only its commission: 2,400,000 × 15% = 360,000 (IFRS 15, para. B36).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000169","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RECOGNITION","format":"SINGLE_CHOICE","context":"SOFTWARE","tested_point":"THREE_CONTROL_SITUATIONS","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"control-before-transfer"},"references":["IFRS 15 §B35","IFRS 15 §B35A"],"exercise":{"prompt":{"fr":"","en":"Case data: an IT services company undertakes to provide a bank with 24-hour support for its users, with guaranteed response times. It entrusts nights and weekends to a call centre it has selected: it imposes its procedures, response times and request-tracking tool, and supervises the call centre's indicators. It alone is answerable to the bank for the service level and pays the call centre a flat fee negotiated between them. Which analysis do you retain for nights and weekends?","es":""},"explanation":{"fr":"","en":"The entity is a principal if it controls the specified service before it is transferred to the customer (IFRS 15, para. B35). This is the case in particular when it obtains the right to a service performed by a third party and can direct that party to provide the service to the customer on its behalf (IFRS 15, para. B35A). Here, imposed procedures, supervision and sole responsibility towards the bank show that the company directs the call centre's service (case data).","es":""},"common_error":{"fr":"","en":"Concluding that the entity is an agent as soon as a subcontractor performs the service, without examining who directs the service promised to the customer.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Agent, because the service is not performed by its own staff","es":""},"correct":false,"feedback":{"fr":"","en":"Performance by a third party does not rule out control: what matters is that the entity directs that service to fulfil its own promise.","es":""}},{"id":"B","text":{"fr":"","en":"Principal: it obtains the right to the call centre's service, which it directs to provide the service promised to the bank","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Agent for nights and weekends, since the call centre receives a flat fee that does not depend on the price paid by the bank","es":""},"correct":false,"feedback":{"fr":"","en":"The way the subcontractor is paid says nothing about control of the service promised to the bank; if anything, the entity bears the risk of that flat fee.","es":""}},{"id":"D","text":{"fr":"","en":"Principal only if the call centre belongs to the same group as the company","es":""},"correct":false,"feedback":{"fr":"","en":"There is no such condition: an independent third party can perform a service that the entity controls and directs.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000170","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"APPLICATION","format":"TRUE_FALSE","context":"HOSPITALITY","tested_point":"ROLE_PER_SPECIFIED_GOOD","difficulty":"INTERMEDIATE","estimated_time_s":60,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B34"],"exercise":{"prompt":{"fr":"","en":"A hotel sells a package of two nights in its rooms and a boat trip organised, priced and run by an independent company; the hotel collects the whole amount and passes on the company's share. The hotel must reach a single conclusion, principal or agent, for the whole package.","es":""},"explanation":{"fr":"","en":"False. The role is assessed for each specified good or service; the same contract may make the hotel a principal for the nights and an agent for the boat trip (IFRS 15, para. B34).","es":""},"common_error":{"fr":"","en":"Classifying the contract as a whole because the customer signs a single order form.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000171","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"HOSPITALITY","tested_point":"OPTION_SSP_INCREMENTAL_DISCOUNT","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"option-ssp"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Hotel Vauberon (fictitious entity) gives each guest, at the end of the stay, a voucher for 30% off a next stay within 12 months; the voucher is a material right (case data). Any guest who signs up free of charge to the hotel's newsletter obtains a 10% discount anyway. Expected average stay with the voucher: 400; estimated probability of use: 50%. In N, 2,000 vouchers were given. Estimate the stand-alone selling price of the vouchers, which is not observable.","es":""},"explanation":{"fr":"","en":"Only the incremental discount has value: 30% − 10% = 20%, i.e. 400 × 20% = 80; adjusted for the probability of use: 80 × 50% = 40 per voucher (IFRS 15, para. B42). For 2,000 vouchers: 80,000, which will be used to allocate the price of the stays between the nights sold and the vouchers.","es":""},"common_error":{"fr":"","en":"Using the face discount of 30% (120 per voucher) without deducting the discount available to everyone or taking the probability of use into account.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Discount granted by the voucher","es":""},"value":"30","unit":"PERCENT"},{"label":{"fr":"","en":"Discount available without the voucher","es":""},"value":"10","unit":"PERCENT"},{"label":{"fr":"","en":"Expected average stay","es":""},"value":"400","unit":"EUR"},{"label":{"fr":"","en":"Probability of use","es":""},"value":"50","unit":"PERCENT"},{"label":{"fr":"","en":"Vouchers given in N","es":""},"value":"2000","unit":"UNITS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Incremental discount granted by the voucher","es":""},"answer":20,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Incremental discount in euros per voucher","es":""},"answer":80,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Estimated stand-alone selling price of one voucher","es":""},"answer":40,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Stand-alone selling price of the vouchers given in N","es":""},"answer":80000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Incremental discount granted by the voucher","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Discount granted by the voucher","es":""},"value":30,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Discount available without the voucher","es":""},"value":10,"unit":"PERCENT"}],"result":20,"unit":"PERCENT"},{"step":"S2","meaning":{"fr":"","en":"Incremental discount in euros per voucher","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected average stay","es":""},"value":400,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Incremental discount granted by the voucher","es":""},"value":20,"unit":"PERCENT"}],"result":80,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Estimated stand-alone selling price of one voucher","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Incremental discount in euros per voucher","es":""},"value":80,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Probability of use","es":""},"value":50,"unit":"PERCENT"}],"result":40,"unit":"EUR"}],"references":["REF.IFRS15.B42"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000172","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"RETAIL","tested_point":"LOYALTY_POINTS_ALLOCATION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"numeric-example"},"references":["IFRS 15 §B40","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The Ardelle shops (fictitious entity) sold items for 380,000 in N, a price equal to their stand-alone selling price. They awarded 50,000 points, each giving a discount of 0.50 on a future purchase; the points are a material right (case data) and Ardelle estimates that 80% of them will be redeemed. Allocate the transaction price.","es":""},"explanation":{"fr":"","en":"Stand-alone selling price of the points: 50,000 × 0.50 × 80% = 20,000 (IFRS 15, para. B42). Total stand-alone selling prices: 380,000 + 20,000 = 400,000. Items: 380,000 × 380,000 / 400,000 = 361,000; points: 380,000 × 20,000 / 400,000 = 19,000, recognised as a contract liability until the points are redeemed or expire (IFRS 15, para. B40).","es":""},"common_error":{"fr":"","en":"Allocating 20,000 to the points (their stand-alone selling price) instead of their relative share of the price, 19,000.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Transaction price (sales of N)","es":""},"value":"380000","unit":"EUR"},{"label":{"fr":"","en":"Points awarded","es":""},"value":"50000","unit":"POINTS"},{"label":{"fr":"","en":"Discount per point","es":""},"value":"0.50","unit":"EUR"},{"label":{"fr":"","en":"Expected redemption rate","es":""},"value":"80","unit":"PERCENT"}],"steps":[{"id":"S1","label":{"fr":"","en":"Stand-alone selling price of the points","es":""},"answer":20000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Transaction price allocated to the items","es":""},"answer":361000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Transaction price allocated to the points (contract liability)","es":""},"answer":19000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Stand-alone selling price of the points","es":""},"expression":"a * b * c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Points awarded","es":""},"value":50000,"unit":"POINTS"},{"symbol":"b","meaning":{"fr":"","en":"Discount per point","es":""},"value":0.5,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Expected redemption rate","es":""},"value":80,"unit":"PERCENT"}],"result":20000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Transaction price allocated to the items","es":""},"expression":"a * a / (a + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price (sales of N)","es":""},"value":380000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the points","es":""},"value":20000,"unit":"EUR"}],"result":361000,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Transaction price allocated to the points (contract liability)","es":""},"expression":"a * b / (a + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Transaction price (sales of N)","es":""},"value":380000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the points","es":""},"value":20000,"unit":"EUR"}],"result":19000,"unit":"EUR","rationale":{"fr":"","en":"points: 380,000 × 20,000 / 400,000 = 19,000, recognised as a contract liability until the points are redeemed or expire (IFRS 15, para. B40).","es":""}}],"references":["REF.IFRS15.B40","REF.IFRS15.B42"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000173","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"CALCULATION","format":"CALCULATION","context":"TELECOM","tested_point":"LOYALTY_REVENUE_REESTIMATION","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"numeric-example"},"references":["IFRS 15 §B40","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The operator Télivo (fictitious entity) originally allocated 36,000 of the price of its subscriptions to the loyalty points awarded (contract liability). It expected 40,000 points to be redeemed. Method used for the case: cumulative revenue = amount allocated to the points × points redeemed (cumulative) / points expected to be redeemed, re-estimated at each reporting date. In N, 16,000 points were redeemed. At the end of N+1, cumulative points redeemed reach 30,000 and total expected redemptions are revised to 45,000. Calculate the revenue and the remaining liability.","es":""},"explanation":{"fr":"","en":"N: 36,000 × 16,000 / 40,000 = 14,400; liability 36,000 − 14,400 = 21,600. N+1: cumulative revenue 36,000 × 30,000 / 45,000 = 24,000, so revenue for N+1 of 24,000 − 14,400 = 9,600; liability 36,000 − 24,000 = 12,000. Points revenue follows redemption (IFRS 15, para. B40); revising the estimate only affects cumulative revenue, without restating N. In the method used for the case, the amount originally allocated to the points on a relative stand-alone selling price basis (IFRS 15, para. B42) remains 36,000: only the proportion recognised changes.","es":""},"common_error":{"fr":"","en":"Calculating N+1 revenue on the points redeemed in N+1 alone (14,000 × 36,000 / 45,000 = 11,200) instead of going through cumulative revenue.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Amount allocated to the points","es":""},"value":"36000","unit":"EUR"},{"label":{"fr":"","en":"Originally expected redemptions","es":""},"value":"40000","unit":"POINTS"},{"label":{"fr":"","en":"Points redeemed in N","es":""},"value":"16000","unit":"POINTS"},{"label":{"fr":"","en":"Points redeemed, cumulative end of N+1","es":""},"value":"30000","unit":"POINTS"},{"label":{"fr":"","en":"Revised expected redemptions end of N+1","es":""},"value":"45000","unit":"POINTS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Points revenue in N","es":""},"answer":14400,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Contract liability end of N","es":""},"answer":21600,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Points revenue in N+1","es":""},"answer":9600,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Contract liability end of N+1","es":""},"answer":12000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Points revenue in N","es":""},"expression":"a * b / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount allocated to the points","es":""},"value":36000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Points redeemed in N","es":""},"value":16000,"unit":"POINTS"},{"symbol":"c","meaning":{"fr":"","en":"Originally expected redemptions","es":""},"value":40000,"unit":"POINTS"}],"result":14400,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Contract liability end of N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount allocated to the points","es":""},"value":36000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Points revenue in N","es":""},"value":14400,"unit":"EUR"}],"result":21600,"unit":"EUR"},{"step":"S3","meaning":{"fr":"","en":"Points revenue in N+1","es":""},"expression":"(a * b / c) - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount allocated to the points","es":""},"value":36000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Points redeemed, cumulative end of N+1","es":""},"value":30000,"unit":"POINTS"},{"symbol":"c","meaning":{"fr":"","en":"Revised expected redemptions end of N+1","es":""},"value":45000,"unit":"POINTS"},{"symbol":"d","meaning":{"fr":"","en":"Points revenue in N","es":""},"value":14400,"unit":"EUR"}],"result":9600,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Contract liability end of N+1","es":""},"expression":"a - (a * b / c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount allocated to the points","es":""},"value":36000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Points redeemed, cumulative end of N+1","es":""},"value":30000,"unit":"POINTS"},{"symbol":"c","meaning":{"fr":"","en":"Revised expected redemptions end of N+1","es":""},"value":45000,"unit":"POINTS"}],"result":12000,"unit":"EUR"}],"references":["REF.IFRS15.B40","REF.IFRS15.B42"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000174","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"BREAKAGE_PROPORTIONAL_REVENUE","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"breakage"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The cinema chain Écranor (fictitious entity) sold non-refundable prepaid cards for 250,000 in N. From experience, it expects 20,000 of rights never to be exercised; this estimate satisfies the constraint on estimates of variable consideration (case data). In N, customers used 92,000 of rights. Calculate the amounts for N.","es":""},"explanation":{"fr":"","en":"The advance payment is a contract liability (IFRS 15, para. B44). Expected rights: 250,000 − 20,000 = 230,000. Expected unexercised rights are recognised in proportion to the pattern of exercise: 20,000 × 92,000 / 230,000 = 8,000 (IFRS 15, para. B46). Revenue: 92,000 + 8,000 = 100,000; remaining liability: 250,000 − 100,000 = 150,000.","es":""},"common_error":{"fr":"","en":"Dividing by 250,000 instead of 230,000 (20,000 × 92,000 / 250,000 = 7,360), or recognising the 20,000 at the point of sale.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Cards sold","es":""},"value":"250000","unit":"EUR"},{"label":{"fr":"","en":"Expected unexercised rights","es":""},"value":"20000","unit":"EUR"},{"label":{"fr":"","en":"Rights exercised in N","es":""},"value":"92000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Rights expected to be exercised","es":""},"answer":230000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Revenue from unexercised rights in N","es":""},"answer":8000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total revenue for N","es":""},"answer":100000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Contract liability end of N","es":""},"answer":150000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Rights expected to be exercised","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cards sold","es":""},"value":250000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Expected unexercised rights","es":""},"value":20000,"unit":"EUR"}],"result":230000,"unit":"EUR"},{"step":"S2","meaning":{"fr":"","en":"Revenue from unexercised rights in N","es":""},"expression":"a * b / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected unexercised rights","es":""},"value":20000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rights exercised in N","es":""},"value":92000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Rights expected to be exercised","es":""},"value":230000,"unit":"EUR"}],"result":8000,"unit":"EUR","rationale":{"fr":"","en":"Expected unexercised rights are recognised in proportion to the pattern of exercise: 20,000 × 92,000 / 230,000 = 8,000 (IFRS 15, para. B46).","es":""}},{"step":"S3","meaning":{"fr":"","en":"Total revenue for N","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Rights exercised in N","es":""},"value":92000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue from unexercised rights in N","es":""},"value":8000,"unit":"EUR"}],"result":100000,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Contract liability end of N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cards sold","es":""},"value":250000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total revenue for N","es":""},"value":100000,"unit":"EUR"}],"result":150000,"unit":"EUR"}],"references":["REF.IFRS15.B44","REF.IFRS15.B46"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000175","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"JOURNAL_ENTRY","format":"JOURNAL_ENTRY","context":"EDUCATION","tested_point":"ADVANCE_PAYMENT_CONTRACT_LIABILITY","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The language school Linguaplus (fictitious entity) collects 18,000, non-refundable, on 1 October N for 12 months of lessons given evenly each month from that date (case data). Record the summary entry for year N (year-end 31 December), combining the collection and the lessons given from October to December.","es":""},"explanation":{"fr":"","en":"On collection, the advance payment is a contract liability of 18,000; it is released to revenue as the lessons are given: 18,000 × 3 / 12 = 4,500 for October to December (IFRS 15, para. B44). A contract liability of 13,500 remains at 31 December N for the nine months of lessons still to be provided.","es":""},"common_error":{"fr":"","en":"Recognising 18,000 as revenue on collection because the amount is non-refundable.","es":""},"format":"JOURNAL_ENTRY","accounts":[{"id":"CASH","text":{"fr":"","en":"Cash","es":""}},{"id":"RECEIVABLE","text":{"fr":"","en":"Trade receivable","es":""}},{"id":"CONTRACT_LIABILITY","text":{"fr":"","en":"Contract liability","es":""}},{"id":"REVENUE","text":{"fr":"","en":"Revenue","es":""}},{"id":"CONTRACT_ASSET","text":{"fr":"","en":"Contract asset","es":""}}],"lines":[{"id":"L1","account":"CASH","side":"DEBIT","amount":18000,"given":["account","side"]},{"id":"L2","account":"REVENUE","side":"CREDIT","amount":4500},{"id":"L3","account":"CONTRACT_LIABILITY","side":"CREDIT","amount":13500}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000176","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"LEISURE","tested_point":"BREAKAGE_TIMING_AND_AMOUNT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"breakage"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The Néroli spa (fictitious entity) sold non-refundable vouchers for 60,000 in N; from experience, it expects 6,000 never to be used (an estimate that satisfies the constraint, case data). In N, 27,000 of vouchers were used. Complete the text.","es":""},"explanation":{"fr":"","en":"When the entity expects to be entitled to unexercised rights, it recognises them in proportion to the pattern of rights exercised (IFRS 15, para. B46): expected rights 60,000 − 6,000 = 54,000; 6,000 × 27,000 / 54,000 = 3,000; revenue 27,000 + 3,000 = 30,000. If the entity did not expect to be entitled to those amounts, it would recognise them when the likelihood of the remaining rights being exercised became remote, which does not require waiting for expiry (IFRS 15, para. B46). The proportional calculation is the approach used in the lesson to express the pattern of exercise.","es":""},"common_error":{"fr":"","en":"Recognising breakage at sale or waiting for expiry: it follows the pattern of voucher use.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Expected unexercised rights are recognised as revenue {{timing}}. Rights expected to be exercised amount to {{expected}} euros; revenue from unexercised rights for N is {{breakage}} euros, giving total revenue of {{total}} euros.","es":""},"blanks":[{"id":"timing","mode":"CHOICE","choices":[{"id":"PATTERN","text":{"fr":"","en":"in proportion to the pattern of rights exercised by customers","es":""}},{"id":"SALE","text":{"fr":"","en":"as soon as the vouchers are sold","es":""}},{"id":"EXPIRY","text":{"fr":"","en":"only when the vouchers expire, in all cases","es":""}}],"answer":"PATTERN"},{"id":"expected","mode":"NUMBER","answer":54000,"tolerance":0},{"id":"breakage","mode":"NUMBER","answer":3000,"tolerance":0},{"id":"total","mode":"NUMBER","answer":30000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000177","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RECOGNITION","format":"CLASSIFICATION","context":"AUTOMOTIVE","tested_point":"MATERIAL_RIGHT_OR_MARKETING_OFFER","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B40","IFRS 15 §B41"],"exercise":{"prompt":{"fr":"","en":"A car dealer gives various benefits to buyers of new vehicles. Classify each of them.","es":""},"explanation":{"fr":"","en":"A benefit obtained through the contract and greater than what is usually granted to that class of customer is a material right (IFRS 15, para. B40). An option at the stand-alone selling price, or a discount anyone can obtain without the contract, is a marketing offer (IFRS 15, para. B41).","es":""},"common_error":{"fr":"","en":"Seeing a material right in a discount available without purchase, e.g. via a free club: it is a marketing offer.","es":""},"format":"CLASSIFICATION","categories":[{"id":"MATERIAL_RIGHT","text":{"fr":"","en":"Material right (performance obligation)","es":""}},{"id":"MARKETING_OFFER","text":{"fr":"","en":"Marketing offer (nothing before exercise)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Voucher for 25% off the next accessories purchase, reserved for buyers, when the usual discount is 5%","es":""},"category":"MATERIAL_RIGHT"},{"id":"I2","text":{"fr":"","en":"Possibility to buy accessories at the list price, the same for every customer","es":""},"category":"MARKETING_OFFER"},{"id":"I3","text":{"fr":"","en":"5% off accessories, also granted to anyone who joins the brand's free club","es":""},"category":"MARKETING_OFFER"},{"id":"I4","text":{"fr":"","en":"Option to buy a 3-year servicing package at half the price charged to other customers, reserved for buyers","es":""},"category":"MATERIAL_RIGHT"},{"id":"I5","text":{"fr":"","en":"Points credited on purchase, usable as a discount on future purchases, which no customer can obtain without buying","es":""},"category":"MATERIAL_RIGHT"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000178","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"TELECOM","tested_point":"UPFRONT_FEE_ADVANCE_FOR_SERVICES","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"upfront-fees"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"An internet service provider charges a non-refundable activation fee of 90 and 30 per month, for a 12-month contract. Activation consists of configuring the line in its own systems and transfers no good or service to the customer; renewal is at the market rate (case data). How should the 90 be treated?","es":""},"explanation":{"fr":"","en":"Upfront fees that pay for no transfer are an advance for future services, recognised as revenue when those services are provided: 90 / 12 = 7.50 per month (IFRS 15, para. B49). Activation, a mere set-up activity, is disregarded when measuring progress (IFRS 15, para. B51).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As revenue on the activation date, since the amount is non-refundable","es":""},"correct":false,"feedback":{"fr":"","en":"Being non-refundable does not prove a transfer; here activation transfers nothing (IFRS 15, para. B49).","es":""}},{"id":"B","text":{"fr":"","en":"As an advance for the access service, recognised as revenue over the 12 months, i.e. 7.50 per month","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As a reduction of the line configuration costs","es":""},"correct":false,"feedback":{"fr":"","en":"The fee is consideration received from the customer, not a cost reduction; set-up costs follow their own rules (IFRS 15, para. B51).","es":""}},{"id":"D","text":{"fr":"","en":"Over the average customer relationship of four years, whatever the renewal terms","es":""},"correct":false,"feedback":{"fr":"","en":"A period longer than the contract term is justified only if a renewal option confers a material right, which is not the case here (IFRS 15, para. B49).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000179","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS","IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"RETAIL","tested_point":"CUSTOMER_RIGHTS_MEMO_ERRORS","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"pitfalls"},"references":["IFRS 15 §B40","IFRS 15 §B41","IFRS 15","IFRS 15 §B47"],"exercise":{"prompt":{"fr":"","en":"The home decoration retailer Verdélys (fictitious entity) has drafted a memo on its customer programmes. Spot the erroneous statements.","es":""},"explanation":{"fr":"","en":"Material right = performance obligation measured through a share of the price (IFRS 15, paras. B40 and B42); a discount available to everyone is not a material right (IFRS 15, paras. B40 and B41); unexercised rights follow the pattern of exercise (IFRS 15, para. B46), unless they must be remitted to a third party (IFRS 15, para. B47); upfront fees with no transfer are an advance (IFRS 15, para. B49).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"Our loyalty points, which give a discount no non-buyer can obtain, are dealt with through a provision for the estimated cost of the discounts; all sales are revenue.","es":""},"erroneous":true,"correction":{"fr":"","en":"These points are a material right, hence a performance obligation: part of the price is allocated to them and remains a contract liability until they are redeemed (IFRS 15, paras. B40 and B42).","es":""}},{"id":"S2","text":{"fr":"","en":"The stand-alone selling price of a point is its face value of 1, without taking the expected redemption rate into account.","es":""},"erroneous":true,"correction":{"fr":"","en":"The estimate takes into account the likelihood of exercise and the discount available without the option (IFRS 15, para. B42).","es":""}},{"id":"S3","text":{"fr":"","en":"The 10% voucher handed out to all visitors of the home fair, whether or not they buy, is a marketing offer.","es":""},"erroneous":false},{"id":"S4","text":{"fr":"","en":"Expected unexercised rights on our gift cards are recognised as revenue as soon as the cards are issued.","es":""},"erroneous":true,"correction":{"fr":"","en":"They are recognised in proportion to the pattern of rights exercised by customers, subject to the constraint on estimates (IFRS 15, para. B46).","es":""}},{"id":"S5","text":{"fr":"","en":"Unused balances that the law requires us to pay over to the State remain a liability.","es":""},"erroneous":false},{"id":"S6","text":{"fr":"","en":"Our club membership fees, which are non-refundable, are revenue on the day of joining since they will never be returned, although joining itself transfers no good or service.","es":""},"erroneous":true,"correction":{"fr":"","en":"With no transfer on joining, the fees are an advance for future goods or services, recognised as revenue when those are provided (IFRS 15, para. B49).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000180","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"APPLICATION","format":"MINI_CASE","context":"RETAIL","tested_point":"GIFT_CARDS_UNCLAIMED_PROPERTY","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"breakage"},"references":["IFRS 15","IFRS 15 §B47"],"exercise":{"prompt":{"fr":"","en":"Analyse Paginelle's gift cards and quantify year N.","es":""},"explanation":{"fr":"","en":"Country A: unexercised rights recognised in proportion to the pattern of exercise (IFRS 15, para. B46); country B: balances payable to the public authority kept as a liability (IFRS 15, para. B47).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The bookshop chain Paginelle (fictitious entity) sells non-refundable gift cards in two countries. Case data for N: country A — cards sold 120,000, expected unexercised rights 12,000 (an estimate that satisfies the constraint), cards used 54,000; country B — the law requires unused balances at expiry to be paid over to the public authority; cards sold 80,000, expected unused balances 8,000, cards used 36,000.","es":""},"parts":[{"prompt":{"fr":"","en":"How should the 8,000 of expected unused balances in country B be treated?","es":""},"explanation":{"fr":"","en":"Consideration attributable to unexercised rights that the entity must remit to a third party, here the public authority, is recognised as a liability, not as revenue (IFRS 15, para. B47).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"They remain a liability and never become revenue","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As revenue in proportion to card usage, as in country A","es":""},"correct":false,"feedback":{"fr":"","en":"Amounts to be remitted to a third party are not revenue (IFRS 15, para. B47).","es":""}},{"id":"C","text":{"fr":"","en":"As revenue when the cards expire, just before payment to the public authority","es":""},"correct":false,"feedback":{"fr":"","en":"Paginelle will never be entitled to these amounts: they remain a liability (IFRS 15, para. B47).","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Calculate the revenue and liabilities for N.","es":""},"explanation":{"fr":"","en":"Country A: expected rights 108,000; 54,000 + 12,000 × 54,000 / 108,000 = 60,000 (IFRS 15, para. B46); liability 120,000 − 60,000 = 60,000 (IFRS 15, para. B44). Country B: revenue limited to the cards used, 36,000 (IFRS 15, para. B47); liability 80,000 − 36,000 = 44,000, of which 8,000 is expected to be paid to the public authority. Total: 96,000.","es":""},"common_error":{"fr":"","en":"Applying breakage recognition in country B: those amounts go to the public authority, so only use generates revenue.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Country A: cards sold","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Country A: expected unexercised rights","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Country A: cards used","es":""},"value":"54000","unit":"EUR"},{"label":{"fr":"","en":"Country B: cards sold","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Country B: cards used","es":""},"value":"36000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue in country A","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Revenue in country B","es":""},"answer":36000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total revenue for N","es":""},"answer":96000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Country A contract liability end of N","es":""},"answer":60000,"tolerance":0,"unit":"EUR"},{"id":"S5","label":{"fr":"","en":"Country B total liability end of N","es":""},"answer":44000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION","formula":{"lines":[{"step":"S4","meaning":{"fr":"","en":"Country A contract liability end of N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Country A: cards sold","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue in country A","es":""},"value":60000,"unit":"EUR"}],"result":60000,"unit":"EUR"},{"step":"S5","meaning":{"fr":"","en":"Country B total liability end of N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Country B: cards sold","es":""},"value":80000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Country B: cards used","es":""},"value":36000,"unit":"EUR"}],"result":44000,"unit":"EUR"}],"references":["REF.IFRS15.B44","REF.IFRS15.B46","REF.IFRS15.B47"]}},{"prompt":{"fr":"","en":"If, in country A, Paginelle had no history allowing it to expect to be entitled to the unexercised rights, it would recognise them as revenue only when the likelihood of the remaining rights being exercised became remote.","es":""},"explanation":{"fr":"","en":"True. If it does not expect to be entitled to an amount of unexercised rights, taking the constraint on estimates into account, the entity waits until the likelihood of the remaining rights being exercised becomes remote (IFRS 15, para. B46).","es":""},"common_error":{"fr":"","en":"Recognising breakage without a reliable history: one must then wait until the likelihood of exercise becomes remote.","es":""},"format":"TRUE_FALSE","answer":true,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000181","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"SOFTWARE","tested_point":"RENEWAL_OPTION_PRACTICAL_ALTERNATIVE","difficulty":"EXPERT","estimated_time_s":90,"lesson_id":"LS.IFRS15.000017","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"renewal-alternative"},"references":["IFRS 15","IFRS 15 §B43"],"exercise":{"prompt":{"fr":"","en":"A publisher sells an annual software maintenance contract that the customer may renew twice at the same rate, which gives a material right; the renewed maintenance is identical and provided under the terms of the original contract. To allocate the price, the publisher is required to estimate the stand-alone selling price of the renewal option.","es":""},"explanation":{"fr":"","en":"False. When the material right relates to similar services provided under the terms of the original contract, the entity may, instead of estimating the stand-alone selling price of the option, allocate the price by reference to the services it expects to provide and the corresponding expected consideration (IFRS 15, para. B43). The general method remains available (IFRS 15, para. B42).","es":""},"common_error":{"fr":"","en":"Believing an estimate of the option's stand-alone price is mandatory: for similar services on original terms, a simplified allocation is permitted.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000182","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"APPLICATION","format":"CLASSIFICATION","context":"GENERIC","tested_point":"ACCESS_OR_USE_CLASSIFICATION","difficulty":"INTERMEDIATE","estimated_time_s":180,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"significant-activities"},"references":["IFRS 15 §B56","IFRS 15 §B58","IFRS 15 §B59A"],"exercise":{"prompt":{"fr":"","en":"Each licence below is distinct. Classify it according to its nature, based on the facts given.","es":""},"explanation":{"fr":"","en":"Right to access when all three criteria are met: expected activities that significantly affect the intellectual property, direct exposure of the customer, no transfer of a good or service by those activities (IFRS 15, para. B58). The value of a brand or a living character depends on the licensor's activities; a completed film, a patented process or a fixed image library has stand-alone functionality that the licensor does not change (IFRS 15, para. B59A): right to use (IFRS 15, para. B56).","es":""},"common_error":{"fr":"","en":"Calling a finished film or completed patented process a right to access: their stand-alone functionality is not changed by the licensor.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ACCESS","text":{"fr":"","en":"Right to access (revenue over time)","es":""}},{"id":"USE","text":{"fr":"","en":"Right to use (revenue at a point in time)","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Brand of a fashion house, which continues its shows and advertising campaigns during the licence; the licensee is directly affected by them","es":""},"category":"ACCESS"},{"id":"I2","text":{"fr":"","en":"Character from an animated series still in production, whose popularity is sustained by new episodes broadcast during the licence","es":""},"category":"ACCESS"},{"id":"I3","text":{"fr":"","en":"Completed feature film, licensed for two years of broadcasting","es":""},"category":"USE"},{"id":"I4","text":{"fr":"","en":"Patented manufacturing process whose development is complete, with no activity expected from the licensor","es":""},"category":"USE"},{"id":"I5","text":{"fr":"","en":"Photo library fixed at signing, with no additions planned or expected","es":""},"category":"USE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000183","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"ANALYSIS","format":"CLASSIFICATION","context":"MEDIA","tested_point":"LICENCE_ATTRIBUTES_VS_PROMISES","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"attributes"},"references":["IFRS 15 §B53","IFRS 15 §B62"],"exercise":{"prompt":{"fr":"","en":"A studio licenses a television series to a channel. Classify each contract clause according to its effect on the analysis.","es":""},"explanation":{"fr":"","en":"Restrictions of time, geography or use are attributes of the licence, and a guarantee of validity or defence of a patent is not a performance obligation: neither is taken into account in the classification (IFRS 15, para. B62). Delivering new seasons is an additional promise, to be analysed under the rules for identifying performance obligations (IFRS 15, para. B53).","es":""},"common_error":{"fr":"","en":"Treating a territory or term restriction as a performance obligation: they are attributes of the licence.","es":""},"format":"CLASSIFICATION","categories":[{"id":"ATTRIBUTE","text":{"fr":"","en":"Attribute of the licence: no effect on the classification","es":""}},{"id":"NOT_PO","text":{"fr":"","en":"Patent guarantee: not a performance obligation","es":""}},{"id":"PROMISE","text":{"fr":"","en":"Additional promise to analyse as a possible performance obligation","es":""}}],"items":[{"id":"I1","text":{"fr":"","en":"Broadcasting limited to Spain and Portugal","es":""},"category":"ATTRIBUTE"},{"id":"I2","text":{"fr":"","en":"Term of three years","es":""},"category":"ATTRIBUTE"},{"id":"I3","text":{"fr":"","en":"Broadcasting on pay channels only","es":""},"category":"ATTRIBUTE"},{"id":"I4","text":{"fr":"","en":"The studio guarantees the validity of the patent on its image restoration process used for the series and undertakes to defend it against infringers","es":""},"category":"NOT_PO"},{"id":"I5","text":{"fr":"","en":"The studio will also deliver, during the licence, the next two seasons, not yet produced","es":""},"category":"PROMISE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000184","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"CALCULATION","format":"CALCULATION","context":"MEDIA","tested_point":"SALES_BASED_ROYALTY_EXCEPTION","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"royalties"},"references":["IFRS 15 §B61","IFRS 15 §B63"],"exercise":{"prompt":{"fr":"","en":"The label Sonarys (fictitious entity) licenses an album already recorded to an online streaming platform from 1 January N for 3 years: a right to use (case data). Consideration: 50,000 fixed, paid on signing, and a royalty of 8% of the platform's revenue from the album. On signing, the platform forecasts revenue of 1,500,000 over 3 years; its actual revenue for N is 600,000. Calculate Sonarys's revenue.","es":""},"explanation":{"fr":"","en":"Right to use: the fixed amount is revenue at the start of the period of use, 1 January N (IFRS 15, para. B61). The sales-based royalty is not estimated on signing: it is recognised at the later of the sale and the satisfaction of the obligation, here already satisfied (IFRS 15, para. B63): 600,000 × 8% = 48,000. Total: 98,000.","es":""},"common_error":{"fr":"","en":"Recognising the forecast royalties on signing (1,500,000 × 8% = 120,000), possibly constrained.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed amount","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Royalty rate","es":""},"value":"8","unit":"PERCENT"},{"label":{"fr":"","en":"Forecast revenue over 3 years","es":""},"value":"1500000","unit":"EUR"},{"label":{"fr":"","en":"Actual revenue for N","es":""},"value":"600000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Future royalties recognised as revenue on 1 January N","es":""},"answer":0,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Revenue from the fixed amount on 1 January N","es":""},"answer":50000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Royalty revenue for N","es":""},"answer":48000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Total revenue for N","es":""},"answer":98000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S3","meaning":{"fr":"","en":"Royalty revenue for N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Actual revenue for N","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Royalty rate","es":""},"value":8,"unit":"PERCENT"}],"result":48000,"unit":"EUR","rationale":{"fr":"","en":"The sales-based royalty is not estimated on signing: it is recognised at the later of the sale and the satisfaction of the obligation, here already satisfied (IFRS 15, para. B63): 600,000 × 8% = 48,000.","es":""}}],"references":["REF.IFRS15.B61","REF.IFRS15.B63"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000185","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"CALCULATION","format":"CALCULATION","context":"GENERIC","tested_point":"FRANCHISE_FEE_AND_ROYALTY","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"numeric-example"},"references":["IFRS 15 §B58","IFRS 15 §B60","IFRS 15 §B63"],"exercise":{"prompt":{"fr":"","en":"Fitnéo (fictitious entity) grants a franchisee, for 4 years from 1 July N, the right to operate its gym brand: an initial fee of 240,000 paid on signing and a royalty of 3% of the franchisee's sales. Fitnéo's activities on the brand make the licence a right to access, the only performance obligation in the contract; method used for the case: straight-line pattern (case data). Franchisee's sales from July to December N: 1,200,000. Year-end 31 December. Calculate the amounts for N.","es":""},"explanation":{"fr":"","en":"Right to access (IFRS 15, para. B58): revenue over time (IFRS 15, para. B60), here straight-line: 240,000 × 6 / 48 = 30,000. Royalty as sales occur (IFRS 15, para. B63): 1,200,000 × 3% = 36,000. Total 66,000; contract liability 240,000 − 30,000 = 210,000.","es":""},"common_error":{"fr":"","en":"Spreading a full year of the initial fee in N (60,000) although the licence only began on 1 July.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Initial fee","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Licence term","es":""},"value":"48","unit":"MONTHS"},{"label":{"fr":"","en":"Months elapsed in N","es":""},"value":"6","unit":"MONTHS"},{"label":{"fr":"","en":"Royalty rate","es":""},"value":"3","unit":"PERCENT"},{"label":{"fr":"","en":"Franchisee's sales, July to December N","es":""},"value":"1200000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Initial fee revenue in N","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Royalty revenue in N","es":""},"answer":36000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Total revenue for N","es":""},"answer":66000,"tolerance":0,"unit":"EUR"},{"id":"S4","label":{"fr":"","en":"Contract liability at 31 December N","es":""},"answer":210000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Initial fee revenue in N","es":""},"expression":"a * b / c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Initial fee","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Months elapsed in N","es":""},"value":6,"unit":"MONTHS"},{"symbol":"c","meaning":{"fr":"","en":"Licence term","es":""},"value":48,"unit":"MONTHS"}],"result":30000,"unit":"EUR","rationale":{"fr":"","en":"Right to access (IFRS 15, para. B58): revenue over time (IFRS 15, para. B60), here straight-line: 240,000 × 6 / 48 = 30,000.","es":""}},{"step":"S2","meaning":{"fr":"","en":"Royalty revenue in N","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Franchisee's sales, July to December N","es":""},"value":1200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Royalty rate","es":""},"value":3,"unit":"PERCENT"}],"result":36000,"unit":"EUR"},{"step":"S4","meaning":{"fr":"","en":"Contract liability at 31 December N","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Initial fee","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Initial fee revenue in N","es":""},"value":30000,"unit":"EUR"}],"result":210000,"unit":"EUR"}],"references":["REF.IFRS15.B58","REF.IFRS15.B60","REF.IFRS15.B63"]}},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000186","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"APPLICATION","format":"MINI_CASE","context":"MEDIA","tested_point":"FILM_CATALOGUE_RIGHT_TO_USE","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"timing"},"references":["IFRS 15 §B56","IFRS 15 §B59A","IFRS 15 §B61","IFRS 15 §B62"],"exercise":{"prompt":{"fr":"","en":"Analyse Cinévalia's licence and determine when revenue is recognised.","es":""},"explanation":{"fr":"","en":"Right to use (IFRS 15, paras. B56 and B59A), revenue on the date the platform can use the films (IFRS 15, para. B61); the geographical restriction is an attribute (IFRS 15, para. B62).","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"The studio Cinévalia (fictitious entity) licenses its catalogue of 40 completed films to a video-on-demand platform for 3 years, with broadcasting limited to France and Belgium. Case data: contract signed on 15 January N, fixed price of 1,800,000 collected on signing; the files and broadcasting keys are delivered on 1 April N, the date from which the platform can broadcast the films; Cinévalia neither promises nor carries out any activity changing the films; the licence is distinct.","es":""},"parts":[{"prompt":{"fr":"","en":"What is the nature of the licence?","es":""},"explanation":{"fr":"","en":"Completed films have significant stand-alone functionality that Cinévalia does not change: their benefit is not affected by its activities (IFRS 15, para. B59A). The licence gives a right to use the intellectual property as it exists when granted (IFRS 15, para. B56).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Right to access, because the licence lasts 3 years","es":""},"correct":false,"feedback":{"fr":"","en":"The term is an attribute; with no activity affecting the films, criterion (a) is not met (IFRS 15, paras. B59A and B62).","es":""}},{"id":"B","text":{"fr":"","en":"Right to use the films as they exist when the licence is granted","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Obligation combined with delivery of the files, to be analysed under the general rules","es":""},"correct":false,"feedback":{"fr":"","en":"The case data state that the licence is distinct.","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"Give the amounts at the following dates.","es":""},"explanation":{"fr":"","en":"No revenue before the start of the period during which the customer can use and benefit from the licence, here 1 April N (IFRS 15, para. B61): until then, the 1,800,000 collected remains a contract liability; on 1 April, revenue of 1,800,000 is recognised in full.","es":""},"common_error":{"fr":"","en":"Recognising revenue on the 15 January receipt: it cannot be before the licence's period of use begins.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Fixed price collected on 15 January N","es":""},"value":"1800000","unit":"EUR"}],"steps":[{"id":"S1","label":{"fr":"","en":"Revenue recognised on 15 January N","es":""},"answer":0,"tolerance":0,"unit":"EUR"},{"id":"S2","label":{"fr":"","en":"Contract liability at 31 March N","es":""},"answer":1800000,"tolerance":0,"unit":"EUR"},{"id":"S3","label":{"fr":"","en":"Revenue recognised on 1 April N","es":""},"answer":1800000,"tolerance":0,"unit":"EUR"}],"id":"P2","dimension":"CALCULATION"},{"prompt":{"fr":"","en":"Limiting broadcasting to France and Belgium creates a distinct performance obligation to which part of the price must be allocated.","es":""},"explanation":{"fr":"","en":"False. A geographical restriction defines an attribute of the promised licence; it does not create a performance obligation (IFRS 15, para. B62).","es":""},"common_error":{"fr":"","en":"Allocating part of the price to the geographic restriction: it is not a separate obligation.","es":""},"format":"TRUE_FALSE","answer":false,"id":"P3","dimension":"RULE_KNOWLEDGE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000187","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"PROFESSIONAL_JUDGMENT","format":"MINI_CASE","context":"PHARMA","tested_point":"PATENT_LICENCE_NOT_DISTINCT_FROM_MANUFACTURING","difficulty":"EXPERT","estimated_time_s":300,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B53","IFRS 15 §B54","IFRS 15 §B55"],"exercise":{"prompt":{"fr":"","en":"Analyse the Pharvel Laboratories contract.","es":""},"explanation":{"fr":"","en":"Licence not distinct from manufacturing: a single performance obligation (IFRS 15, para. B54), whose revenue timing follows the general rules (IFRS 15, para. B55); revenue for year 1: 1,800,000.","es":""},"format":"MINI_CASE","scenario":{"fr":"","en":"Pharvel Laboratories (fictitious entity) grants a distributor an exclusive 3-year licence on a medicine patent and undertakes to manufacture all the doses it will sell, i.e. 300,000 doses over 3 years, for a total price of 6,000,000. Case data: the manufacturing process is highly specialised and no other manufacturer can produce the medicine, so the distributor cannot benefit from the licence without Pharvel's manufacturing. The analysis under the general rules concludes that the resulting obligation is satisfied as deliveries are made; method used for the case: progress measured by doses delivered. In year 1, 90,000 doses are delivered.","es":""},"parts":[{"prompt":{"fr":"","en":"How many performance obligations does the contract contain?","es":""},"explanation":{"fr":"","en":"The entity identifies the obligations in the contract under the general rules (IFRS 15, para. B53). A licence from which the customer can benefit only together with another good or service of the entity is not distinct: licence and manufacturing form a single performance obligation (IFRS 15, para. B54).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Two: the licence, recognised when granted, and manufacturing, as deliveries are made","es":""},"correct":false,"feedback":{"fr":"","en":"The distributor cannot benefit from the licence without Pharvel's manufacturing: the licence is not distinct (IFRS 15, para. B54).","es":""}},{"id":"B","text":{"fr":"","en":"One: the licence and manufacturing form a combined obligation","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"One, the licence, classified as a right to access over 3 years; manufacturing is a set-up activity","es":""},"correct":false,"feedback":{"fr":"","en":"Manufacturing transfers doses to the customer: it is not a set-up activity; and the access / use classification applies only to a distinct licence (IFRS 15, para. B54).","es":""}}],"id":"P1","dimension":"ANALYSIS"},{"prompt":{"fr":"","en":"How is the timing or pattern of revenue determined?","es":""},"explanation":{"fr":"","en":"For a licence that is not distinct, the entity determines whether the combined obligation is satisfied over time or at a point in time, then, where relevant, selects a method for measuring progress (IFRS 15, para. B55).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"By applying the right-to-access criteria to the licence alone","es":""},"correct":false,"feedback":{"fr":"","en":"Those criteria apply only to a distinct licence (IFRS 15, para. B55).","es":""}},{"id":"B","text":{"fr":"","en":"By applying to the combined obligation the general rules on transfer of control and, if it is satisfied over time, on measuring progress","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"By recognising the price on signing, the date the licence is granted","es":""},"correct":false,"feedback":{"fr":"","en":"The timing of revenue is determined for the combined obligation, which includes manufacturing not yet performed (IFRS 15, para. B55).","es":""}}],"id":"P2","dimension":"RULE_KNOWLEDGE"},{"prompt":{"fr":"","en":"Calculate the revenue for year 1 using the method chosen for the case.","es":""},"explanation":{"fr":"","en":"Progress: 90,000 / 300,000 = 30%; revenue: 6,000,000 × 30% = 1,800,000. Measuring by doses delivered is the method chosen for the case, not a method required by the standard (IFRS 15, para. B55).","es":""},"common_error":{"fr":"","en":"Presenting the doses-delivered measure as required by the standard: it is the method chosen for the case.","es":""},"format":"CALCULATION","data":[{"label":{"fr":"","en":"Total price","es":""},"value":"6000000","unit":"EUR"},{"label":{"fr":"","en":"Doses planned","es":""},"value":"300000","unit":"UNITS"},{"label":{"fr":"","en":"Doses delivered in year 1","es":""},"value":"90000","unit":"UNITS"}],"steps":[{"id":"S1","label":{"fr":"","en":"Progress at the end of year 1","es":""},"answer":30,"tolerance":0,"unit":"PERCENT"},{"id":"S2","label":{"fr":"","en":"Revenue for year 1","es":""},"answer":1800000,"tolerance":0,"unit":"EUR"}],"id":"P3","dimension":"CALCULATION","formula":{"lines":[{"step":"S1","meaning":{"fr":"","en":"Progress at the end of year 1","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Doses delivered in year 1","es":""},"value":90000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Doses planned","es":""},"value":300000,"unit":"UNITS"}],"result":30,"unit":"PERCENT"},{"step":"S2","meaning":{"fr":"","en":"Revenue for year 1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total price","es":""},"value":6000000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Progress at the end of year 1","es":""},"value":30,"unit":"PERCENT"}],"result":1800000,"unit":"EUR"}],"references":["REF.IFRS15.B55"]}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000188","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"SOFTWARE","tested_point":"ROYALTY_PREDOMINANT_LICENCE","difficulty":"ADVANCED","estimated_time_s":150,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"royalties"},"references":["IFRS 15 §B63","IFRS 15 §B63A","IFRS 15 §B63B"],"exercise":{"prompt":{"fr":"","en":"A publisher licenses a video game engine and also provides six months of technical support; consideration: 5% of sales of the game the customer will develop. The customer ascribes significantly more value to the licence than to the support (case data). How should the royalty be treated?","es":""},"explanation":{"fr":"","en":"The B63 exception also applies when the licence is the predominant item to which the royalty relates, for example when the customer ascribes significantly more value to it (IFRS 15, para. B63A); the whole royalty is then recognised under B63 (IFRS 15, para. B63B): at the later of the sale and the full or partial satisfaction of the obligation (IFRS 15, para. B63).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The exception applies to the whole royalty: revenue at the later of the sale of the game and the satisfaction of the obligation to which the royalty is allocated","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The exception for the part relating to the licence, the general variable consideration rules for the part relating to support","es":""},"correct":false,"feedback":{"fr":"","en":"No splitting: when the licence is predominant, the whole royalty falls under the exception (IFRS 15, para. B63B).","es":""}},{"id":"C","text":{"fr":"","en":"Estimate the whole expected royalty on signing, subject to the constraint on variable consideration","es":""},"correct":false,"feedback":{"fr":"","en":"The general rules apply only if the licence is neither the sole nor the predominant item (IFRS 15, paras. B63A and B63B).","es":""}},{"id":"D","text":{"fr":"","en":"Recognise nothing until support ends, then the whole cumulative royalty","es":""},"correct":false,"feedback":{"fr":"","en":"The royalty is recognised as sales occur, once the obligation to which it is allocated is satisfied or partially satisfied (IFRS 15, para. B63).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000189","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"ANALYSIS","format":"ERROR_SPOT","context":"AUTOMOTIVE","tested_point":"LICENSING_MEMO_ERRORS","difficulty":"ADVANCED","estimated_time_s":240,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"pitfalls"},"references":["IFRS 15 §B58","IFRS 15 §B59","IFRS 15 §B59A","IFRS 15 §B60","IFRS 15 §B62","IFRS 15 §B63"],"exercise":{"prompt":{"fr":"","en":"The car maker Avelor (fictitious entity) grants a toy manufacturer, for 5 years, the right to use its brand and logo on miniature cars, for a fixed initial fee and a royalty of 6% of miniature sales. Avelor continues its racing activities and advertising campaigns, which sustain the brand's reputation and directly affect the manufacturer. Spot the erroneous statements in its memo.","es":""},"explanation":{"fr":"","en":"A brand maintained by the licensor is a right to access (IFRS 15, paras. B58, B59 and B59A), recognised over time (IFRS 15, para. B60); the royalty follows the B63 exception; a restriction of use is an attribute (IFRS 15, para. B62).","es":""},"format":"ERROR_SPOT","statements":[{"id":"S1","text":{"fr":"","en":"The licence is a right to use, since our brand already exists at signing.","es":""},"erroneous":true,"correction":{"fr":"","en":"The brand's value depends in substance on the activities Avelor continues, which affect the licensee: all three criteria are met, so it is a right to access (IFRS 15, paras. B58 and B59A).","es":""}},{"id":"S2","text":{"fr":"","en":"The activities the licensee can reasonably expect are also assessed in the light of our customary practices and public statements.","es":""},"erroneous":false},{"id":"S3","text":{"fr":"","en":"On signing we estimate the 6% royalties expected over 5 years, constrained, and recognise them over the licence.","es":""},"erroneous":true,"correction":{"fr":"","en":"Sales-based royalty for a licence: revenue at the later of the sale and the satisfaction of the obligation, with no estimate on signing (IFRS 15, para. B63).","es":""}},{"id":"S4","text":{"fr":"","en":"Limiting the licence to miniatures under 30 cm is a distinct performance obligation.","es":""},"erroneous":true,"correction":{"fr":"","en":"A restriction of use is an attribute of the licence, with no effect on the classification or on the number of obligations (IFRS 15, para. B62).","es":""}},{"id":"S5","text":{"fr":"","en":"The fixed initial fee is recognised over the licence term, using an appropriate method of measuring progress.","es":""},"erroneous":false}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000190","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","format":"TRUE_FALSE","context":"SOFTWARE","tested_point":"RIGHT_TO_USE_NOT_BEFORE_USE_PERIOD","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"timing"},"references":["IFRS 15 §B61"],"exercise":{"prompt":{"fr":"","en":"On 1 December N, a publisher signs and invoices a 3-year licence of its accounting software, classified as a right to use; the customer will only be able to activate and use the software from 1 February N+1. The publisher can recognise the licence revenue in December N, since the contract is signed and the price invoiced.","es":""},"explanation":{"fr":"","en":"False. No licence revenue is recognised before the start of the period during which the customer can use and benefit from the licence, here 1 February N+1 (IFRS 15, para. B61). Signing and invoicing are not enough.","es":""},"common_error":{"fr":"","en":"Recognising revenue on signing or invoicing: the customer must be able to use the licence.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000191","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"APPLICATION","format":"SINGLE_CHOICE","context":"MEDIA","tested_point":"RIGHT_TO_ACCESS_THREE_CRITERIA","difficulty":"ADVANCED","estimated_time_s":120,"lesson_id":"LS.IFRS15.000018","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"access-or-use"},"references":["IFRS 15 §B58","IFRS 15 §B61"],"exercise":{"prompt":{"fr":"","en":"Case data: a studio grants a stationery manufacturer a distinct 4-year licence over a character. Its only planned activity on the character consists of delivering a batch of new drawings to the licensee each quarter, which the licensee receives and can use; these deliveries in themselves are a service to the licensee (case data). Which of the three right-of-access criteria is not met?","es":""},"explanation":{"fr":"","en":"A distinct licence is a right of access only if all three criteria are met: significant activities expected on the intellectual property, direct exposure of the customer to their effects, and activities that do not, in themselves, transfer a good or service to the customer (IFRS 15, para. B58). Here, the drawing deliveries are themselves a service (case data): the third criterion is not met, the licence is a right to use (IFRS 15, para. B61) and the drawing deliveries are analysed separately.","es":""},"common_error":{"fr":"","en":"Concluding that there is a right of access as soon as the licensor remains active during the licence, without checking whether its activities are themselves deliveries to the customer.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The criterion of activities that significantly affect the intellectual property, because the studio has no other obligation","es":""},"correct":false,"feedback":{"fr":"","en":"The issue is not whether there are activities but what they are: they themselves transfer a service to the licensee.","es":""}},{"id":"B","text":{"fr":"","en":"The criterion of the licensee's direct exposure to the effects of the activities","es":""},"correct":false,"feedback":{"fr":"","en":"That is not the decisive point here: the missing criterion relates to the fact that the deliveries are a service to the licensee.","es":""}},{"id":"C","text":{"fr":"","en":"The criterion that the activities must not, in themselves, transfer a good or service to the customer","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"None: a 4-year licence is always a right of access","es":""},"correct":false,"feedback":{"fr":"","en":"The licence term does not determine its nature; what matters are the three cumulative criteria.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000192","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","format":"FILL_BLANK","context":"GENERIC","tested_point":"CORE_PRINCIPLE_TWO_QUESTIONS","difficulty":"BEGINNER","estimated_time_s":60,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2"],"exercise":{"prompt":{"fr":"","en":"A financial controller is preparing a training sheet for new accountants. Complete her sentence, which sums up the core principle of IFRS 15 in her own words.","es":""},"explanation":{"fr":"","en":"The core principle links revenue to the transfer of the promised goods or services, in the amount of consideration to which the entity expects to be entitled in exchange (IFRS 15, para. 2). Signature, invoicing or collection do not by themselves trigger revenue, and the amount is a reasoned expectation that may differ from the advertised price (discounts, bonuses, penalties).","es":""},"common_error":{"fr":"","en":"Linking revenue to collection or invoicing, as in cash-basis accounting.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Revenue answers two questions: when? When the entity {{when}}; how much? The amount {{amount}}.","es":""},"blanks":[{"id":"when","mode":"CHOICE","choices":[{"id":"TRANSFER","text":{"fr":"","en":"transfers the promised goods or services to the customer","es":""}},{"id":"CASH","text":{"fr":"","en":"collects the customer's payment","es":""}},{"id":"SIGN","text":{"fr":"","en":"signs the contract","es":""}},{"id":"INVOICE","text":{"fr":"","en":"issues the invoice","es":""}}],"answer":"TRANSFER"},{"id":"amount","mode":"CHOICE","choices":[{"id":"ENTITLED","text":{"fr":"","en":"of consideration to which it expects to be entitled in exchange","es":""}},{"id":"LIST","text":{"fr":"","en":"of the advertised price, ignoring discounts","es":""}},{"id":"COLLECTED","text":{"fr":"","en":"actually collected at the reporting date","es":""}}],"answer":"ENTITLED"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000193","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"DOCUMENTATION","format":"SINGLE_CHOICE","context":"MANUFACTURING","tested_point":"CORE_PRINCIPLE_POLICY_NOTE","difficulty":"INTERMEDIATE","estimated_time_s":90,"lesson_id":"LS.IFRS15.000001","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2","IFRS 15 §47","IFRS 15 §50"],"exercise":{"prompt":{"fr":"","en":"Case data: Hexalia, an industrial pump manufacturer (fictitious entity), grants its distributors retrospective volume rebates, calculated on the year's purchases. Its accounting policy note states: \"Revenue is recognised when control of the pumps is transferred to the customer, at the price shown on the purchase order.\" What needs to be corrected in this wording?","es":""},"explanation":{"fr":"","en":"The core principle has two strands: timing (transfer of the promised goods or services) and amount (the consideration to which the entity expects to be entitled) (IFRS 15, para. 2). The transaction price is that expected amount (IFRS 15, para. 47); when it includes a variable component, such as retrospective volume rebates, the entity estimates it (IFRS 15, para. 50). The note must therefore refer to the expected consideration, not to the face price on the purchase order. The exact wording remains the entity's own; only its substance is required.","es":""},"common_error":{"fr":"","en":"Checking only the timing criterion in the policy note, forgetting that the amount of revenue includes the estimated variable consideration.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Nothing, the wording faithfully reflects the core principle of IFRS 15","es":""},"correct":false,"feedback":{"fr":"","en":"The timing is correct, but not the amount: with retrospective rebates, the purchase order price is not the expected consideration.","es":""}},{"id":"B","text":{"fr":"","en":"The timing: revenue must be recognised on invoicing","es":""},"correct":false,"feedback":{"fr":"","en":"Transfer of control is indeed the timing criterion; invoicing is just a document.","es":""}},{"id":"C","text":{"fr":"","en":"The amount: revenue is the consideration to which Hexalia expects to be entitled, taking account of the estimated rebates, not the purchase order price","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Timing and amount: revenue must be recognised on collection, at the amount received","es":""},"correct":false,"feedback":{"fr":"","en":"Collection determines neither the timing nor the amount of revenue under IFRS 15.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000194","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","format":"FILL_BLANK","context":"SERVICES","tested_point":"ESTIMATE_VERSUS_CONSTRAINED_AMOUNT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000004","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"constraint"},"references":["IFRS 15 §50","IFRS 15 §53","IFRS 15 §56","IFRS 15 §57"],"exercise":{"prompt":{"fr":"","en":"Stratalis (fictitious entity), a regulatory consultancy, assists a laboratory for a fixed fee of 80,000, plus a bonus of 15,000 if the health authority grants the requested approval; there are only two possible outcomes. Stratalis assesses the probability of earning the bonus at 80%. The decision rests entirely with the authority, is only expected in ten months, and Stratalis has never handled this type of file. After analysis, Stratalis concludes that it is not highly probable that including the bonus would not result in a significant reversal of cumulative revenue (entity's judgement, case data). Complete the text.","es":""},"explanation":{"fr":"","en":"With only two outcomes (bonus earned or not), the most likely amount better predicts the final amount: 15,000, the outcome with the highest probability (IFRS 15, paras. 50 and 53). The estimate is, however, included in the transaction price only to the extent that it is highly probable that no significant reversal will occur (IFRS 15, para. 56). Here, a third party's decision, the ten-month delay and the lack of experience are among the factors that increase that risk (IFRS 15, para. 57); since Stratalis's conclusion is negative, the bonus is excluded: transaction price 80,000 + 0 = 80,000. The estimate is updated at each reporting date.","es":""},"common_error":{"fr":"","en":"Including 12,000 (15,000 × 80%): the expected value is of little relevance for two outcomes, and the constraint applies after the estimate.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"The bonus is estimated using the {{method}} method, i.e. {{estimate}} euros. Given the constraint, the amount of the bonus included in the transaction price is {{included}} euros, and the transaction price amounts to {{price}} euros.","es":""},"blanks":[{"id":"method","mode":"CHOICE","choices":[{"id":"MOST_LIKELY","text":{"fr":"","en":"most likely amount","es":""}},{"id":"EXPECTED","text":{"fr":"","en":"expected value","es":""}},{"id":"AVERAGE","text":{"fr":"","en":"simple average of the two outcomes","es":""}}],"answer":"MOST_LIKELY"},{"id":"estimate","mode":"NUMBER","answer":15000,"tolerance":0},{"id":"included","mode":"NUMBER","answer":0,"tolerance":0},{"id":"price","mode":"NUMBER","answer":80000,"tolerance":0}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000195","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"APPLICATION","format":"FILL_BLANK","context":"SOFTWARE","tested_point":"INCREMENTAL_COSTS_SORTING_AND_EXPEDIENT","difficulty":"INTERMEDIATE","estimated_time_s":150,"lesson_id":"LS.IFRS15.000013","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §91","IFRS 15 §92","IFRS 15 §93","IFRS 15 §94"],"exercise":{"prompt":{"fr":"","en":"Nexoria (fictitious entity), an IT services company, wins a three-year outsourcing contract and expects to recover its costs. To obtain it, it incurred: 6,000 of legal fees to analyse the tender and 2,500 of travel costs to present its bid, payable whether or not the contract was obtained, and an 18,000 commission paid to its salesperson only because the contract was signed (case data). The amortisation period of any asset would be three years. Complete the text.","es":""},"explanation":{"fr":"","en":"Only the commission would not have been incurred without the contract: it is an incremental cost, recognised as an asset because Nexoria expects to recover it (IFRS 15, paras. 91 and 92): 18,000. The legal fees and travel costs would have been incurred in any case: expenses, 6,000 + 2,500 = 8,500 (IFRS 15, para. 93), none being rechargeable to the customer according to the case data. The practical expedient applies only if the amortisation period is one year or less (IFRS 15, para. 94); here it is three years.","es":""},"common_error":{"fr":"","en":"Capitalising all the costs of the winning bid (26,500), on the grounds that they helped obtain the contract.","es":""},"format":"FILL_BLANK","text":{"fr":"","en":"Nexoria recognises {{asset}} euros of costs of obtaining the contract as an asset and expenses {{expense}} euros as incurred. The practical expedient allowing these costs to be expensed {{expedient}}.","es":""},"blanks":[{"id":"asset","mode":"NUMBER","answer":18000,"tolerance":0},{"id":"expense","mode":"NUMBER","answer":8500,"tolerance":0},{"id":"expedient","mode":"CHOICE","choices":[{"id":"NOT_AVAILABLE","text":{"fr":"","en":"is not available, as the amortisation period exceeds one year","es":""}},{"id":"AVAILABLE","text":{"fr":"","en":"is available, because the contract is signed with a single customer","es":""}},{"id":"MANDATORY","text":{"fr":"","en":"is mandatory for every commission","es":""}}],"answer":"NOT_AVAILABLE"}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000196","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"DOCUMENTATION","format":"MULTIPLE_CHOICE","context":"HOSPITALITY","tested_point":"PRINCIPAL_EVIDENCE_FILE","difficulty":"ADVANCED","estimated_time_s":180,"lesson_id":"LS.IFRS15.000016","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"indicators"},"references":["IFRS 15 §B34","IFRS 15 §B35","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"Voyalto (fictitious entity), an online holiday platform, buys blocks of hotel nights in advance, paid for and non-refundable, then resells them to travellers at prices it sets freely; it handles complaints alone and makes the commitment to travellers for the service (case data). The auditor asks for the file supporting the conclusion 'Voyalto acts as principal for the hotel nights'. Which items should this file include?","es":""},"explanation":{"fr":"","en":"The file starts from the specified good or service (IFRS 15, para. B34), then demonstrates that Voyalto controls it before it is transferred (IFRS 15, para. B35), documenting the non-exhaustive indicators: primary responsibility for fulfilment, inventory risk before transfer, pricing discretion (IFRS 15, para. B37). These indicators inform the control analysis without replacing it: the conclusion remains Voyalto's judgement, which the file must make verifiable.","es":""},"common_error":{"fr":"","en":"Documenting cash flows or momentary legal title, rather than control of the specified good or service.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Identification of the specified good or service promised to the traveller: the right to stay one night at the hotel","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The purchase contracts showing that the nights are prepaid and non-refundable, before any resale","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The pricing policy showing that Voyalto freely sets the resale prices","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The general terms and the complaints process showing that Voyalto alone is responsible to the traveller for the service","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The fact that the traveller pays Voyalto by card before the hotel is paid","es":""},"correct":false,"feedback":{"fr":"","en":"The timing of cash flows is not an indicator of control: responsibility for fulfilment, inventory risk and pricing discretion inform the analysis (IFRS 15, para. B37).","es":""}},{"id":"F","text":{"fr":"","en":"A statement that the booking is registered in Voyalto's name for a few seconds before being transferred to the traveller, sufficient proof on its own","es":""},"correct":false,"feedback":{"fr":"","en":"Title obtained only momentarily does not necessarily demonstrate control before transfer (IFRS 15, para. B35).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"LX.IFRS15.000197","source":"V2","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"DOCUMENTATION","format":"MULTIPLE_CHOICE","context":"AVIATION","tested_point":"CRITERION_C_EVIDENCE_FILE","difficulty":"EXPERT","estimated_time_s":210,"lesson_id":"LS.IFRS15.000010","review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"criterion-c-right-to-payment"},"references":["IFRS 15 §35","IFRS 15 §36","IFRS 15 §37","IFRS 15","IFRS 15 §B9"],"exercise":{"prompt":{"fr":"","en":"Aérotec (fictitious entity) is building a custom-designed test bench for an engine manufacturer; the contract provides that if the customer terminates for a reason other than Aérotec's failure, it pays at any time the costs incurred plus an 8% margin, close to the contract margin (case data). Aérotec wants to document that the obligation is satisfied over time under the third criterion (asset with no alternative use and enforceable right to payment). Which documents should its file contain?","es":""},"explanation":{"fr":"","en":"The third criterion combines two conditions (IFRS 15, para. 35): no alternative use, assessed at inception in the light of contractual restrictions and practical limitations (IFRS 15, paras. 36 and B6), and an enforceable right, at all times, to compensation for performance completed to date, assessed under the contract and the applicable law (IFRS 15, para. 37), approximating the selling price (IFRS 15, para. B9). The file therefore documents the analysis of the asset, the clause and its enforceability; the choice of documents is a matter of Aérotec's judgement.","es":""},"common_error":{"fr":"","en":"Documenting only the contractual clause, without establishing that it is enforceable or that the asset has no alternative use.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An analysis, at contract inception, of the contractual restrictions and practical limitations that would prevent the bench from being readily redirected to another customer","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The termination clause showing compensation, at any time, of the costs incurred plus a reasonable margin","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A legal opinion confirming that this clause is enforceable under the law applicable to the contract","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An estimate of the likelihood that the engine manufacturer will terminate the contract","es":""},"correct":false,"feedback":{"fr":"","en":"The possibility of termination is not taken into account in assessing alternative use (IFRS 15, para. B6); the right to payment is assessed on the assumption of termination, whatever its likelihood (IFRS 15, para. 37).","es":""}},{"id":"E","text":{"fr":"","en":"A clause limiting the termination payment to the loss of future margin only","es":""},"correct":false,"feedback":{"fr":"","en":"Compensation must approximate the selling price of the performance completed to date (for example costs incurred plus a reasonable margin), not just the loss of profit (IFRS 15, para. B9): such a clause would weaken the file instead of supporting it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000001","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000001","tested_point":"QST.IFRS15.000001","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2"],"exercise":{"prompt":{"fr":"","en":"Under the core principle of IFRS 15, an entity recognises revenue when it collects the price paid by its customer.","es":""},"explanation":{"fr":"","en":"The core principle links revenue to the transfer to the customer of the promised goods or services, in the amount of consideration to which the entity expects to be entitled (IFRS 15, para. 2). Collection does not trigger revenue recognition: it may precede or follow the transfer.","es":""},"common_error":{"fr":"","en":"Treating revenue as the cash collected during the period.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000002","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000002","tested_point":"QST.IFRS15.000002","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §1","IFRS 15 §2"],"exercise":{"prompt":{"fr":"","en":"IFRS 15 aims to provide users of financial statements with useful information about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.","es":""},"explanation":{"fr":"","en":"This is the objective set out at the beginning of the standard (IFRS 15, para. 1). To meet it, the entity recognises revenue so as to depict the transfer of the promised goods or services, in the amount of consideration it expects (IFRS 15, para. 2).","es":""},"common_error":{"fr":"","en":"Reducing the objective of the standard to the amount of revenue only.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000003","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000003","tested_point":"QST.IFRS15.000003","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2"],"exercise":{"prompt":{"fr":"","en":"Which statement best reflects the core principle of IFRS 15?","es":""},"explanation":{"fr":"","en":"The entity recognises revenue so as to depict the transfer to the customer of the promised goods or services, in the amount of consideration to which it expects to be entitled in exchange (IFRS 15, para. 2). Neither the invoice, nor collection, nor signature is in itself the triggering event.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revenue is recognised on the invoice date, for the amount invoiced.","es":""},"correct":false,"feedback":{"fr":"","en":"Invoicing is an administrative act: it does not necessarily reflect the transfer of goods or services.","es":""}},{"id":"B","text":{"fr":"","en":"Revenue is recognised on collection, for the amount received.","es":""},"correct":false,"feedback":{"fr":"","en":"Collection may occur before or after the transfer; it is not the event that triggers revenue.","es":""}},{"id":"C","text":{"fr":"","en":"Revenue depicts the transfer of the promised goods or services, for the consideration expected in exchange.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Revenue is recognised on signing the contract, for the total price stated in it, whatever the delivery schedule.","es":""},"correct":false,"feedback":{"fr":"","en":"Signature creates rights and obligations, but no good or service has yet been transferred at that stage.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000004","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE","IFRS15.CONTRACT.IDENTIFICATION","IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION","IFRS15.TRANSACTION_PRICE.DETERMINATION","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE","IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000004","tested_point":"QST.IFRS15.000004","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2","IFRS 15 §9","IFRS 15 §22","IFRS 15 §47","IFRS 15 §74","IFRS 15 §31"],"exercise":{"prompt":{"fr":"","en":"In what order does the five-step teaching approach apply the core principle of IFRS 15?","es":""},"explanation":{"fr":"","en":"The five steps are a teaching presentation of the core principle (IFRS 15, para. 2). The contract is identified (IFRS 15, para. 9), then the performance obligations (IFRS 15, para. 22); the transaction price is determined (IFRS 15, para. 47) and allocated to the obligations (IFRS 15, para. 74); finally, revenue is recognised when (or as) each obligation is satisfied through the transfer of control (IFRS 15, para. 31).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Identify the contract; determine the transaction price; allocate the price; recognise revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The identification of performance obligations has been forgotten: without it, there is nothing to allocate the price to.","es":""}},{"id":"B","text":{"fr":"","en":"Identify the contract; identify the performance obligations; determine the transaction price; allocate it to the obligations; recognise revenue when (or as) each obligation is satisfied.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Determine the transaction price; identify the contract; recognise revenue; identify the performance obligations; allocate the price.","es":""},"correct":false,"feedback":{"fr":"","en":"The price cannot be determined before the contract is identified, and revenue is recognised only last.","es":""}},{"id":"D","text":{"fr":"","en":"Identify the performance obligations; identify the contract; allocate the price; determine the transaction price; recognise revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The steps are reversed: a price that has not yet been determined cannot be allocated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000005","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000005","tested_point":"QST.IFRS15.000005","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2"],"exercise":{"prompt":{"fr":"","en":"Which of the following are steps of the five-step approach that implements the core principle of IFRS 15?","es":""},"explanation":{"fr":"","en":"The five-step teaching approach implements the core principle (IFRS 15, para. 2): identify the contract, identify the performance obligations, determine the transaction price, allocate it, then recognise revenue when (or as) each obligation is satisfied. Periodic remeasurement of the contract at fair value and recognition on invoicing are not part of it.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Measure the contract at fair value at each reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"No step consists in remeasuring the contract at fair value: the principle is based on the transfer of goods or services.","es":""}},{"id":"B","text":{"fr":"","en":"Identify the contract with the customer.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Determine the transaction price.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Recognise revenue on the date each invoice is issued.","es":""},"correct":false,"feedback":{"fr":"","en":"The invoice is not the triggering event: revenue follows the transfer of the promised goods or services.","es":""}},{"id":"E","text":{"fr":"","en":"Allocate the transaction price to the performance obligations.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000006","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000006","tested_point":"QST.IFRS15.000006","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §4"],"exercise":{"prompt":{"fr":"","en":"As a practical expedient, an entity may apply IFRS 15 to a portfolio of contracts with similar characteristics if it reasonably expects that the effect on its financial statements will not differ materially from applying it contract by contract.","es":""},"explanation":{"fr":"","en":"The standard focuses on the individual contract but permits this practical expedient, subject to an expected effect that does not differ materially (IFRS 15, para. 4). Assessing this condition is a matter of the entity's judgement.","es":""},"common_error":{"fr":"","en":"Believing that the standard always requires a contract-by-contract analysis.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000007","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000007","tested_point":"QST.IFRS15.000007","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §4"],"exercise":{"prompt":{"fr":"","en":"Lumira, a manufacturer of smoke detectors, enters into thousands of standard contracts with installers every year. It wants to account for these contracts as a portfolio. Under what condition does IFRS 15 permit this?","es":""},"explanation":{"fr":"","en":"As a practical expedient, IFRS 15 permits contracts with similar characteristics to be accounted for together when the entity reasonably expects that the effect on the financial statements will not differ materially from applying the standard contract by contract; estimates then reflect the size and composition of the portfolio (IFRS 15, para. 4). Concluding on this condition is a matter of Lumira's judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The contracts must all have been entered into with the same customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The condition concerns the similarity of the contracts and the expected effect, not the identity of the customer.","es":""}},{"id":"B","text":{"fr":"","en":"The portfolio must include a minimum number of contracts set by the standard.","es":""},"correct":false,"feedback":{"fr":"","en":"The condition concerns the expected effect, not a number of contracts.","es":""}},{"id":"C","text":{"fr":"","en":"The contracts have similar characteristics and Lumira reasonably expects an effect that does not differ materially from a contract-by-contract analysis.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Use of the portfolio must have been authorised in advance by the auditors.","es":""},"correct":false,"feedback":{"fr":"","en":"The expedient is the entity's choice and the entity assesses the condition; it is not subject to prior authorisation by the auditor.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000008","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000008","tested_point":"QST.IFRS15.000008","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §4"],"exercise":{"prompt":{"fr":"","en":"When an entity applies IFRS 15 to a portfolio of contracts, the estimates and assumptions it uses reflect the size and composition of that portfolio.","es":""},"explanation":{"fr":"","en":"Under the portfolio approach, estimates and assumptions are set so as to reflect the size and composition of the portfolio (IFRS 15, para. 4). The portfolio is therefore not treated as a single contract with arbitrary average data.","es":""},"common_error":{"fr":"","en":"Using assumptions unrelated to the actual composition of the portfolio.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000009","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE","IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000009","tested_point":"QST.IFRS15.000009","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2","IFRS 15 §31"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements are consistent with the core principle of IFRS 15?","es":""},"explanation":{"fr":"","en":"The core principle links revenue to the transfer of the promised goods or services, for the expected consideration (IFRS 15, para. 2). Revenue is recognised when (or as) a performance obligation is satisfied, that is, when the customer obtains control of the good or service (IFRS 15, para. 31). Collection and invoicing are not the triggering events.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revenue for a period equals the amounts collected from customers during that period.","es":""},"correct":false,"feedback":{"fr":"","en":"Collections in the period may include advances or settlements of earlier sales: they are not revenue.","es":""}},{"id":"B","text":{"fr":"","en":"The amount of revenue is the consideration to which the entity expects to be entitled in exchange for the goods or services.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Revenue is recognised as soon as an invoice is sent to the customer, whether or not the good has been delivered.","es":""},"correct":false,"feedback":{"fr":"","en":"Invoicing does not prove the transfer: without transfer of control, no revenue is recognised.","es":""}},{"id":"D","text":{"fr":"","en":"Revenue is recognised when (or as) the entity satisfies a performance obligation by transferring a promised good or service.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A good is transferred when (or as) the customer obtains control of it.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000010","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE","IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000010","tested_point":"QST.IFRS15.000010","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2","IFRS 15 §31"],"exercise":{"prompt":{"fr":"","en":"On 20 December 20X1, Fervane receives full payment from its customer for a machine that it will deliver, and of which the customer will obtain control, on 15 January 20X2. Fervane's reporting date is 31 December. When does it recognise the revenue from this sale?","es":""},"explanation":{"fr":"","en":"Revenue depicts the transfer of the promised goods (IFRS 15, para. 2) and is recognised when the customer obtains control of the good (IFRS 15, para. 31). The transfer takes place on 15 January 20X2: revenue is recognised in 20X2. At 31 December 20X1, the amount received is not revenue.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In 20X1, on the date the payment is received.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment received in advance does not give rise to revenue: the machine has not yet been transferred.","es":""}},{"id":"B","text":{"fr":"","en":"In 20X2, when the customer obtains control of the machine.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Half in 20X1 and half in 20X2.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing in the case justifies a split: the machine is transferred in one go in 20X2.","es":""}},{"id":"D","text":{"fr":"","en":"In 20X1, at the reporting date, since the price has been paid in full.","es":""},"correct":false,"feedback":{"fr":"","en":"Full payment does not replace the transfer of control, which has not yet occurred at the reporting date.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000011","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000011","tested_point":"QST.IFRS15.000011","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §2"],"exercise":{"prompt":{"fr":"","en":"Under IFRS 15, the amount of revenue recognised for a period may differ from the amount collected from customers during that same period.","es":""},"explanation":{"fr":"","en":"Revenue is recognised as the promised goods or services are transferred, for the consideration to which the entity expects to be entitled (IFRS 15, para. 2). Collections follow the agreed payment schedule, which may not match the transfers: the two amounts can therefore differ.","es":""},"common_error":{"fr":"","en":"Mechanically matching revenue for the period with collections for the same period.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000012","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.OBJECTIVE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000012","tested_point":"QST.IFRS15.000012","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"core-principle"},"references":["IFRS 15 §4"],"exercise":{"prompt":{"fr":"","en":"Brisol, a telecommunications operator, is considering applying IFRS 15 on a portfolio basis to its mobile subscriptions. Which statements are correct?","es":""},"explanation":{"fr":"","en":"The standard focuses on the individual contract, but as a practical expedient the entity may apply it to a portfolio of contracts or performance obligations with similar characteristics, if it reasonably expects an effect that does not differ materially; estimates then reflect the size and composition of the portfolio (IFRS 15, para. 4). This is an option, whose condition is a matter of Brisol's judgement.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The expedient is mandatory as soon as the entity manages a large number of contracts.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard says the entity may apply this expedient: it is an option, not an obligation.","es":""}},{"id":"B","text":{"fr":"","en":"The expedient may be applied to a portfolio of contracts or a portfolio of performance obligations with similar characteristics.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Brisol must reasonably expect an effect on the financial statements that does not differ materially from applying the standard contract by contract.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The expedient may be used even if the expected effect differs materially, provided the contracts are numerous.","es":""},"correct":false,"feedback":{"fr":"","en":"The number of contracts is not enough: the condition of an effect that does not differ materially must be met.","es":""}},{"id":"E","text":{"fr":"","en":"The estimates and assumptions used must reflect the size and composition of the portfolio.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000013","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000013","tested_point":"QST.IFRS15.000013","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §5"],"exercise":{"prompt":{"fr":"","en":"A lease within the scope of IFRS 16 is excluded from the scope of IFRS 15.","es":""},"explanation":{"fr":"","en":"IFRS 15 excludes several categories of contracts from its scope, including leases within the scope of IFRS 16 (IFRS 15, para. 5). These contracts are accounted for under their own standard.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000014","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000014","tested_point":"QST.IFRS15.000014","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §5"],"exercise":{"prompt":{"fr":"","en":"Two fuel distributors that exchange volumes of fuel with each other, in order to better serve their respective customers in different regions, account for this exchange under IFRS 15.","es":""},"explanation":{"fr":"","en":"Non-monetary exchanges between entities in the same line of business to facilitate sales to customers are excluded from the scope of IFRS 15 (IFRS 15, para. 5). The exchange described, between two distributors in the same line of business and aimed at serving their customers, falls within this exclusion.","es":""},"common_error":{"fr":"","en":"Treating the distributor that is party to the exchange as a customer.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000015","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000015","tested_point":"QST.IFRS15.000015","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §5","IFRS 15 §6"],"exercise":{"prompt":{"fr":"","en":"Orlane, a manufacturer of coffee machines, signs several agreements during the year. Which one is within the scope of IFRS 15?","es":""},"explanation":{"fr":"","en":"IFRS 15 applies to contracts with customers, that is, parties that contract to obtain goods or services that are an output of the entity's ordinary activities (IFRS 15, para. 6). The sale of machines by their manufacturer to a chain of cafés falls within it. By contrast, leases within IFRS 16 and financial instruments within IFRS 9 are excluded (IFRS 15, para. 5), and the insurance taken out by Orlane is a purchase, not a sale to a customer (IFRS 15, para. 6).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The lease of a warehouse within the scope of IFRS 16, granted by Orlane to a third party.","es":""},"correct":false,"feedback":{"fr":"","en":"Leases within the scope of IFRS 16 are excluded from the scope of IFRS 15.","es":""}},{"id":"B","text":{"fr":"","en":"A loan that Orlane grants to a partner company, within the scope of IFRS 9.","es":""},"correct":false,"feedback":{"fr":"","en":"Financial instruments within the scope of IFRS 9 are excluded from the scope of IFRS 15.","es":""}},{"id":"C","text":{"fr":"","en":"The sale of coffee machines to a chain of cafés that buys them for its operations.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Orlane taking out, with an insurer, an insurance policy for its warehouses.","es":""},"correct":false,"feedback":{"fr":"","en":"Orlane is here the buyer of insurance cover: the insurer is not its customer and the arrangement generates no revenue for it; it is therefore outside the scope of IFRS 15 for Orlane.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000016","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000016","tested_point":"QST.IFRS15.000016","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §5"],"exercise":{"prompt":{"fr":"","en":"Which of the following contracts are excluded from the scope of IFRS 15?","es":""},"explanation":{"fr":"","en":"Excluded from the scope of IFRS 15 are, in particular, leases within IFRS 16, financial instruments and other contractual rights or obligations within IFRS 9, and non-monetary exchanges between entities in the same line of business to facilitate sales to customers (IFRS 15, para. 5). Sales of goods or services to customers remain within the scope.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The sale by a software publisher of a maintenance subscription to a customer.","es":""},"correct":false,"feedback":{"fr":"","en":"This is a service provided to a customer in the course of ordinary activities: it is within IFRS 15.","es":""}},{"id":"B","text":{"fr":"","en":"A lease within the scope of IFRS 16.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The sale of goods by a wholesaler to a retailer customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The sale of goods to a customer is within the scope of IFRS 15.","es":""}},{"id":"D","text":{"fr":"","en":"A financial instrument within the scope of IFRS 9.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A non-monetary exchange between two entities in the same line of business to facilitate sales to customers.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000017","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000017","tested_point":"QST.IFRS15.000017","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §6"],"exercise":{"prompt":{"fr":"","en":"Végéa and Montelor University jointly develop a new seed variety; they share the costs, risks and benefits of the project. For Végéa, Montelor is a customer as defined in IFRS 15.","es":""},"explanation":{"fr":"","en":"A party is a customer only if it has contracted to obtain, in exchange for consideration, goods or services that are an output of the entity's ordinary activities. A partner that participates in an activity in which the parties share the risks and benefits, such as the joint development of an asset, is not a customer (IFRS 15, para. 6). The sharing described is a datum of the case.","es":""},"common_error":{"fr":"","en":"Treating a development partner that shares the risks as a customer.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000018","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000018","tested_point":"QST.IFRS15.000018","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §6"],"exercise":{"prompt":{"fr":"","en":"Kalidor, a contract research laboratory, signs two agreements: (1) with Pharmeo, which pays it a fixed fee to carry out a series of trials and receive all of the results; (2) with Biomont, with which it develops a process sharing the costs, risks and future profits. Which agreement(s) is (are) within the scope of IFRS 15 for Kalidor?","es":""},"explanation":{"fr":"","en":"IFRS 15 applies only if the counterparty is a customer, that is, a party that has contracted to obtain, in exchange for consideration, goods or services that are an output of the entity's ordinary activities; a partner that shares the risks and benefits of an activity is not one (IFRS 15, para. 6). Pharmeo buys the results of trials carried out as part of Kalidor's ordinary activities: it is a customer. Biomont shares the project: it is not a customer.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Both agreements, since in each case Kalidor receives funds from a third party.","es":""},"correct":false,"feedback":{"fr":"","en":"Receiving funds is not enough: the counterparty must also be a customer obtaining a good or service.","es":""}},{"id":"B","text":{"fr":"","en":"Only the agreement with Pharmeo.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Only the agreement with Biomont.","es":""},"correct":false,"feedback":{"fr":"","en":"It is the other way round: Biomont shares the risks and benefits, whereas Pharmeo buys an output.","es":""}},{"id":"D","text":{"fr":"","en":"Neither, because research activities are always excluded from IFRS 15.","es":""},"correct":false,"feedback":{"fr":"","en":"No general exclusion applies to research: everything depends on whether the counterparty is a customer.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000019","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000019","tested_point":"QST.IFRS15.000019","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §5","IFRS 15 §7"],"exercise":{"prompt":{"fr":"","en":"Tramex makes a truck available to a customer under a contract that includes a lease component within the scope of IFRS 16, and also provides full maintenance of the vehicle. The contract provides for a single overall price. How should Tramex proceed?","es":""},"explanation":{"fr":"","en":"Leases within the scope of IFRS 16 are excluded from the scope of IFRS 15 (IFRS 15, para. 5). When a contract is partly within IFRS 15 and partly within another standard, the entity first applies the separation or measurement requirements of that other standard, excludes the corresponding amount from the transaction price, then applies IFRS 15 to the remainder (IFRS 15, para. 7). Maintenance is therefore within IFRS 15 once the lease component has been dealt with.","es":""},"common_error":{"fr":"","en":"Applying IFRS 15 to the whole of a mixed lease and services contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Apply IFRS 15 to the whole contract, the lease component being ancillary to the maintenance service.","es":""},"correct":false,"feedback":{"fr":"","en":"The lease component cannot be absorbed by IFRS 15: it must first be dealt with under IFRS 16.","es":""}},{"id":"B","text":{"fr":"","en":"Apply IFRS 16 to the whole contract, including maintenance.","es":""},"correct":false,"feedback":{"fr":"","en":"Maintenance is a service provided to a customer: it is within IFRS 15, not IFRS 16.","es":""}},{"id":"C","text":{"fr":"","en":"First apply to the lease component the separation or measurement requirements of IFRS 16, exclude it from the transaction price, then apply IFRS 15 to the remainder.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Freely choose the standard applicable to the contract as a whole, provided it is applied consistently.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not leave this choice: the order in which the components are dealt with is prescribed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000020","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000020","tested_point":"QST.IFRS15.000020","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §7"],"exercise":{"prompt":{"fr":"","en":"Oxalis enters into a contract with a customer of which one component is within IFRS 15 and another is within another standard. It is established (case datum) that this other standard specifies neither how to separate this component nor how to measure it initially. How does Oxalis proceed for the separation and initial measurement?","es":""},"explanation":{"fr":"","en":"When the other standards applicable to part of the contract do not specify how to separate or initially measure that part, the entity applies IFRS 15 to perform that separation or initial measurement (IFRS 15, para. 7). The component within the other standard is then still accounted for under that standard.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It accounts for the whole contract under the other standard, since there are no separation requirements.","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of separation requirements in the other standard does not move the whole contract under that standard.","es":""}},{"id":"B","text":{"fr":"","en":"It applies IFRS 15 to separate and initially measure this component.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It freely sets the amount of the component, provided it documents it.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount is not free: IFRS 15 provides the method to apply in this case.","es":""}},{"id":"D","text":{"fr":"","en":"It applies IFRS 15 to the whole contract without separating anything, which amounts to the same thing.","es":""},"correct":false,"feedback":{"fr":"","en":"Separation is still needed: the component is within another standard; only the separation method comes from IFRS 15.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000021","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000021","tested_point":"QST.IFRS15.000021","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §7"],"exercise":{"prompt":{"fr":"","en":"A contract is partly within IFRS 15 and partly within another standard that specifies how to separate and measure the component it governs. Which statements are correct?","es":""},"explanation":{"fr":"","en":"For a contract partly within another standard, the entity first applies the separation and/or initial measurement requirements of that standard, excludes the amount so measured from the transaction price, then allocates any remainder in accordance with paragraphs 73 to 86 (IFRS 15, para. 7).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity first applies the separation or measurement requirements of the other standard.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The entity first allocates the whole price to all components under IFRS 15, then applies the other standard.","es":""},"correct":false,"feedback":{"fr":"","en":"The order is reversed: IFRS 15 allocates only the remainder, after applying the other standard.","es":""}},{"id":"C","text":{"fr":"","en":"The amount measured under the other standard is excluded from the transaction price within IFRS 15.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Any remaining price is allocated under the allocation requirements of IFRS 15 (paras 73 to 86).","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The component within the other standard is included in the IFRS 15 performance obligations.","es":""},"correct":false,"feedback":{"fr":"","en":"The component within the other standard is excluded from IFRS 15: it is not a performance obligation under IFRS 15.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000022","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000022","tested_point":"QST.IFRS15.000022","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §3","IFRS 15 §5"],"exercise":{"prompt":{"fr":"","en":"Rubane sells standard maintenance contracts to similar customers, in similar circumstances. It may apply an IFRS 15 practical expedient to some of these contracts and not to others, on a case-by-case basis.","es":""},"explanation":{"fr":"","en":"The entity considers the terms of the contract and all relevant facts and circumstances, and applies the standard, including its practical expedients, consistently to contracts with similar characteristics and in similar circumstances (IFRS 15, para. 3). These maintenance contracts are within the scope of IFRS 15, as no exclusion applies to them (IFRS 15, para. 5).","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000023","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000023","tested_point":"QST.IFRS15.000023","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §8","IFRS 15 §5"],"exercise":{"prompt":{"fr":"","en":"Immovia, whose ordinary activities include leasing warehouses, pays a commission to an intermediary to obtain the signing of a lease within the scope of IFRS 16. Do the IFRS 15 requirements on incremental costs of obtaining a contract apply to this commission?","es":""},"explanation":{"fr":"","en":"Leases within the scope of IFRS 16 are excluded from the scope of IFRS 15 (IFRS 15, para. 5). IFRS 15 governs the costs of obtaining and fulfilling a contract only when they relate to a contract (or part of a contract) within its scope and are not within another standard (IFRS 15, para. 8). The accounting for this commission is therefore governed by other requirements, which are not tested here.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, IFRS 15 governs all commissions paid to obtain a contract, whatever the nature of the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 15 does not govern costs relating to contracts outside its scope.","es":""}},{"id":"B","text":{"fr":"","en":"Yes, provided the commission is incremental and is expected to be recovered.","es":""},"correct":false,"feedback":{"fr":"","en":"The conditions for recognising an asset are only examined for a contract within the scope of IFRS 15: the scope question comes first.","es":""}},{"id":"C","text":{"fr":"","en":"No, because IFRS 15 governs these costs only for contracts (or parts of contracts) within its scope.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No, because a commission is never an incremental cost of obtaining a contract.","es":""},"correct":false,"feedback":{"fr":"","en":"A commission can be an incremental cost of obtaining a contract; the reason for the exclusion here lies in the scope of the contract.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000024","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000024","tested_point":"QST.IFRS15.000024","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §7"],"exercise":{"prompt":{"fr":"","en":"Valtech enters into an overall contract of 100,000 with a customer for making an industrial printer available (a lease component within the scope of IFRS 16) and for an operator training service. Applying the requirements of IFRS 16, the amount attributed to the lease component is 60,000 (case datum). What amount is the transaction price to be accounted for under IFRS 15?","es":""},"explanation":{"fr":"","en":"The entity first applies the separation or measurement requirements of the other standard, excludes the amount so measured from the transaction price, then applies IFRS 15 to the remainder (IFRS 15, para. 7). The transaction price within IFRS 15 is 40,000 (100,000 − 60,000), relating to the training. The amount of 60,000, measured under IFRS 16, is a case datum.","es":""},"common_error":{"fr":"","en":"Applying IFRS 15 to the whole of a mixed lease and services contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"100,000, because the contract is with a customer and has a single overall price.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount attributed to the lease component must be excluded from the transaction price within IFRS 15.","es":""}},{"id":"B","text":{"fr":"","en":"60,000, the amount attributed to the lease component.","es":""},"correct":false,"feedback":{"fr":"","en":"60,000 is the amount within IFRS 16, not the price accounted for under IFRS 15.","es":""}},{"id":"C","text":{"fr":"","en":"40,000, the remainder after excluding the amount measured under IFRS 16.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"160,000, by adding the lease component to the overall price.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount of the lease component is deducted from the overall price; it is not added to it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000025","standard_id":"IFRS15","concept_ids":["IFRS15.SCOPE.GENERAL"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000025","tested_point":"QST.IFRS15.000025","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"scope-exclusions"},"references":["IFRS 15 §6"],"exercise":{"prompt":{"fr":"","en":"Datavia, a software publisher, signs with Merko: (1) a contract under which Merko pays a fixed price to obtain a custom-developed invoicing module that it alone will use; (2) a separate agreement under which the two companies jointly develop a shared platform, sharing the costs, risks and future revenues. How does Datavia analyse these agreements with regard to the scope of IFRS 15?","es":""},"explanation":{"fr":"","en":"Customer status is assessed for each agreement: a customer is a party that contracts to obtain, in exchange for consideration, goods or services that are an output of the entity's ordinary activities, whereas a partner sharing the risks and benefits of an activity is not one (IFRS 15, para. 6). In contract (1), Merko obtains a module that is an output of Datavia's ordinary activities; in agreement (2), it shares the project.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Merko is a customer for contract (1); it is not one for agreement (2).","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Merko is a customer for both agreements, since it is the same company.","es":""},"correct":false,"feedback":{"fr":"","en":"The analysis is made agreement by agreement: in agreement (2), Merko shares the risks and benefits.","es":""}},{"id":"C","text":{"fr":"","en":"Merko is a customer for agreement (2) only, because it concerns a shared platform.","es":""},"correct":false,"feedback":{"fr":"","en":"It is the other way round: the shared platform is a joint project, whereas the module is obtained for consideration.","es":""}},{"id":"D","text":{"fr":"","en":"Merko is a customer for neither agreement, because both concern software.","es":""},"correct":false,"feedback":{"fr":"","en":"The software nature of the deliverables does not exclude IFRS 15: the question is whether the counterparty is a customer.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000026","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000026","tested_point":"QST.IFRS15.000026","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":30,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"For the purposes of IFRS 15, a contract is an agreement between two or more parties that creates enforceable rights and obligations.","es":""},"explanation":{"fr":"","en":"This is the definition of a contract given in Appendix A (IFRS 15, Appendix A). The decisive feature is that the rights and obligations are enforceable, not the form of the agreement.","es":""},"common_error":{"fr":"","en":"Reducing a contract to a signed document.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000027","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS","IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000027","tested_point":"QST.IFRS15.000027","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15","IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"A contract asset is a right to consideration whose payment is due solely on the passage of time.","es":""},"explanation":{"fr":"","en":"A contract asset is a right to consideration in exchange for goods or services transferred, conditional on something other than the passage of time (IFRS 15, Appendix A). A right that depends only on the passage of time is unconditional: it is a receivable (IFRS 15, para. 108).","es":""},"common_error":{"fr":"","en":"Confusing a contract asset with a receivable.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000028","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000028","tested_point":"QST.IFRS15.000028","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"According to Appendix A of IFRS 15, what is a performance obligation?","es":""},"explanation":{"fr":"","en":"Appendix A defines a performance obligation as a promise to the customer to transfer a distinct good or service, or a series of distinct goods or services that are substantially the same and have the same pattern of transfer (IFRS 15, Appendix A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Any task the entity performs to carry out the contract, including internal administrative tasks.","es":""},"correct":false,"feedback":{"fr":"","en":"An internal task that transfers nothing to the customer is not a performance obligation.","es":""}},{"id":"B","text":{"fr":"","en":"The customer's obligation to pay the agreed price.","es":""},"correct":false,"feedback":{"fr":"","en":"The performance obligation is the entity's obligation towards the customer, not the customer's payment obligation.","es":""}},{"id":"C","text":{"fr":"","en":"A promise to transfer to the customer a distinct good or service, or a series of distinct goods or services that are substantially the same and transferred with the same pattern.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The whole contract, which always constitutes a single obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"A contract may contain several performance obligations; it does not always form a single one.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000029","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS","IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000029","tested_point":"QST.IFRS15.000029","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15","IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"Ambrel sells a set of furniture to a customer. The invoice amounts to 12,000, including 2,000 of sales tax that Ambrel collects on behalf of the State (case datum). What is the transaction price?","es":""},"explanation":{"fr":"","en":"The transaction price is the consideration to which the entity expects to be entitled in exchange for the goods or services, excluding amounts collected on behalf of third parties (IFRS 15, Appendix A; IFRS 15, para. 47). The tax of 2,000 is collected for the State: the transaction price is 10,000 (12,000 − 2,000).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"12,000, the total amount invoiced to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount invoiced includes a tax collected on behalf of a third party, which must be excluded.","es":""}},{"id":"B","text":{"fr":"","en":"10,000, the consideration excluding the tax collected on behalf of the State.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"14,000, the amount invoiced plus the tax.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax is already included in the invoice; adding it a second time is a calculation error.","es":""}},{"id":"D","text":{"fr":"","en":"2,000, the amount of tax collected.","es":""},"correct":false,"feedback":{"fr":"","en":"The tax is not consideration due to Ambrel: it is paid over to the State.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000030","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000030","tested_point":"QST.IFRS15.000030","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"How does Appendix A of IFRS 15 define the stand-alone selling price of a good or service?","es":""},"explanation":{"fr":"","en":"The stand-alone selling price is the price at which the entity would sell a promised good or service separately to a customer (IFRS 15, Appendix A). How to estimate it when it is not directly observable is dealt with by other paragraphs and by the entity's judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The price at which the entity would sell that good or service separately to a customer.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The production cost of the good or service, plus the entity's average margin.","es":""},"correct":false,"feedback":{"fr":"","en":"A cost plus a margin may be used to estimate this price in some cases, but it is not its definition.","es":""}},{"id":"C","text":{"fr":"","en":"The total price of the contract in which the good or service is sold.","es":""},"correct":false,"feedback":{"fr":"","en":"The price of the overall contract is not the price of a good or service sold separately.","es":""}},{"id":"D","text":{"fr":"","en":"The lowest price granted by the entity during the year.","es":""},"correct":false,"feedback":{"fr":"","en":"A price granted on one occasion is not, by definition, the price of a separate sale.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000031","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000031","tested_point":"QST.IFRS15.000031","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about income and revenue (Appendix A of IFRS 15) are correct?","es":""},"explanation":{"fr":"","en":"Income consists of increases in economic benefits that increase equity, other than contributions from holders of equity claims; revenue is the category of income arising in the course of the entity's ordinary activities (IFRS 15, Appendix A).","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Any increase in equity, including contributions from shareholders, is income.","es":""},"correct":false,"feedback":{"fr":"","en":"Contributions from holders of equity claims are expressly excluded from income.","es":""}},{"id":"B","text":{"fr":"","en":"Revenue is the part of income that arises in the course of the entity's ordinary activities.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Revenue for a period equals the amounts collected during that period.","es":""},"correct":false,"feedback":{"fr":"","en":"The definition is based on economic benefits arising from ordinary activities, not on collections.","es":""}},{"id":"D","text":{"fr":"","en":"Contributions from holders of equity claims are not income.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000032","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS","IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000032","tested_point":"QST.IFRS15.000032","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15","IFRS 15 §106"],"exercise":{"prompt":{"fr":"","en":"At 31 December 20X1, Néroli has issued an invoice that is due for a service it will only perform in 20X2; the customer has not yet paid. Néroli presents a contract liability at that date.","es":""},"explanation":{"fr":"","en":"A contract liability is an obligation to transfer goods or services for which consideration has been received or is due (IFRS 15, Appendix A). When an amount becomes due before the transfer, the contract is presented as a contract liability when the amount is due, even without payment (IFRS 15, para. 106).","es":""},"common_error":{"fr":"","en":"Waiting for collection before recognising a contract liability.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000033","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000033","tested_point":"QST.IFRS15.000033","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Natéo manufactures and sells bicycles. Which of the following parties is a customer of Natéo as defined in IFRS 15?","es":""},"explanation":{"fr":"","en":"A customer is a party that has contracted with the entity to obtain, in exchange for consideration, goods or services that are an output of the entity's ordinary activities (IFRS 15, Appendix A). Only the sports shop obtains bicycles, an output of Natéo's ordinary activities, for a price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The bank that grants a loan to Natéo.","es":""},"correct":false,"feedback":{"fr":"","en":"The bank provides financing to Natéo; it does not obtain goods or services that are an output of its ordinary activities.","es":""}},{"id":"B","text":{"fr":"","en":"The supplier that sells Natéo the aluminium for its frames.","es":""},"correct":false,"feedback":{"fr":"","en":"The direction of the relationship is reversed: Natéo is the customer of this supplier.","es":""}},{"id":"C","text":{"fr":"","en":"The sports shop that buys bicycles from Natéo in exchange for a price.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The shareholder that subscribes to a capital increase of Natéo and receives new shares in exchange.","es":""},"correct":false,"feedback":{"fr":"","en":"The shareholder contributes capital; it does not obtain goods or services that are an output of ordinary activities.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000034","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS","IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000034","tested_point":"QST.IFRS15.000034","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15","IFRS 15 §107","IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"In which of the following situations does the entity hold a contract asset rather than a receivable?","es":""},"explanation":{"fr":"","en":"A contract asset is a right to consideration for goods or services transferred, conditional on something other than the passage of time (IFRS 15, Appendix A; IFRS 15, para. 107). A right that depends only on the passage of time is a receivable (IFRS 15, para. 108). An advance received before any transfer is a contract liability.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It has delivered goods and issued an invoice payable within 30 days, with no other condition.","es":""},"correct":false,"feedback":{"fr":"","en":"The right depends only on the passage of time: it is a receivable.","es":""}},{"id":"B","text":{"fr":"","en":"It has delivered the first of two pieces of equipment; the contract entitles it to payment only after delivering the second.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It has received an advance from the customer for a service it has not yet started.","es":""},"correct":false,"feedback":{"fr":"","en":"An advance received before the transfer is a contract liability, not an asset.","es":""}},{"id":"D","text":{"fr":"","en":"It has completed phase 1 of a project; under the contract, invoicing for this phase depends on the entity completing phase 2.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000035","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000035","tested_point":"QST.IFRS15.000035","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"During 20X1, Corvalis receives 500,000 from its shareholders in a capital increase, and makes 300,000 of sales of goods arising from its ordinary activities, of which the customers have obtained control. What amount is revenue?","es":""},"explanation":{"fr":"","en":"Income excludes contributions from holders of equity claims, and revenue is the category of income arising in the course of ordinary activities (IFRS 15, Appendix A). The capital increase is therefore not income; only the sales of goods, i.e. 300,000, are revenue.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"800,000, i.e. all the resources received.","es":""},"correct":false,"feedback":{"fr":"","en":"The 500,000 contributed by shareholders is not income.","es":""}},{"id":"B","text":{"fr":"","en":"300,000, for the sales of goods.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"500,000, for the capital increase.","es":""},"correct":false,"feedback":{"fr":"","en":"This is the shareholders' contribution, which is expressly excluded from income.","es":""}},{"id":"D","text":{"fr":"","en":"No amount until the sales are collected.","es":""},"correct":false,"feedback":{"fr":"","en":"The definition does not make revenue depend on collection.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000036","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS","IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000036","tested_point":"QST.IFRS15.000036","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15","IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"The transaction price is always equal to the price stated in the contract signed with the customer.","es":""},"explanation":{"fr":"","en":"The transaction price is the consideration to which the entity expects to be entitled in exchange for the goods or services, excluding amounts collected on behalf of third parties (IFRS 15, Appendix A). To determine it, the entity considers the terms of the contract and its customary business practices, and consideration may be fixed, variable or both (IFRS 15, para. 47). It may therefore differ from the price stated in the contract.","es":""},"common_error":{"fr":"","en":"Treating the transaction price as the price stated in the contract.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000037","standard_id":"IFRS15","concept_ids":["IFRS15.DEFINITIONS.KEY_TERMS","IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000037","tested_point":"QST.IFRS15.000037","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000001","section_id":"key-terms"},"references":["IFRS 15","IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"On 10 November 20X1, Pélagie delivers pumps to a customer, which obtains control of them, and issues an invoice of 30,000 payable within 60 days. No other condition is attached to payment. What item does Pélagie present for this right at 30 November 20X1?","es":""},"explanation":{"fr":"","en":"A right to consideration that depends only on the passage of time is an unconditional right: it is a receivable (IFRS 15, para. 108). A contract asset is reserved for a right conditional on something other than the passage of time (IFRS 15, Appendix A).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A contract asset, since payment is not yet due.","es":""},"correct":false,"feedback":{"fr":"","en":"A payment period alone does not make the right conditional: it is a receivable.","es":""}},{"id":"B","text":{"fr":"","en":"A receivable, since payment depends only on the passage of time.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A contract liability, since the invoice has been issued.","es":""},"correct":false,"feedback":{"fr":"","en":"The pumps have been transferred: there is no unperformed obligation to transfer, so no contract liability.","es":""}},{"id":"D","text":{"fr":"","en":"No item until the customer has paid.","es":""},"correct":false,"feedback":{"fr":"","en":"The right to consideration exists regardless of collection and must be presented.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000038","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000038","tested_point":"QST.IFRS15.000038","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":35,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §10"],"exercise":{"prompt":{"fr":"","en":"For a contract with a customer to exist under IFRS 15, it must necessarily be in writing.","es":""},"explanation":{"fr":"","en":"A contract may be written, oral or implied by the entity's customary business practices; what matters is that it creates enforceable rights and obligations, which is a matter of law (IFRS 15, para. 10).","es":""},"common_error":{"fr":"","en":"Believing that a contract must be in writing to exist.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000039","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000039","tested_point":"QST.IFRS15.000039","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §9"],"exercise":{"prompt":{"fr":"","en":"A contract with a customer is accounted for under IFRS 15 only if all the criteria set by the standard (approval and commitment of the parties, identifiable rights, identifiable payment terms, commercial substance, probable collection) are met at the same time.","es":""},"explanation":{"fr":"","en":"The criteria for the existence of a contract are cumulative: if any one of them is missing, the arrangement is not accounted for as a contract under the standard (IFRS 15, para. 9).","es":""},"common_error":{"fr":"","en":"Believing that meeting most of the criteria is enough.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000040","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000040","tested_point":"QST.IFRS15.000040","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §9"],"exercise":{"prompt":{"fr":"","en":"Which of the following are among the criteria that an arrangement with a customer must meet to be accounted for as a contract under IFRS 15?","es":""},"explanation":{"fr":"","en":"The criteria are: approval of the contract by the parties, which are committed to perform it; identification of each party's rights; identification of the payment terms; commercial substance; probable collection of the consideration (IFRS 15, para. 9). Approval may be written, oral or in accordance with customary practices, and no deposit is required.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The contract is signed in writing by the legal representatives of both parties.","es":""},"correct":false,"feedback":{"fr":"","en":"Approval may be written, oral or in accordance with customary practices: a written signature is not a criterion.","es":""}},{"id":"B","text":{"fr":"","en":"The parties have approved the contract and are committed to perform their obligations.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The entity can identify the payment terms for the goods or services to be transferred.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The customer has paid a deposit on signing.","es":""},"correct":false,"feedback":{"fr":"","en":"No prior payment is required for a contract to exist.","es":""}},{"id":"E","text":{"fr":"","en":"The contract has commercial substance.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"It is probable that the entity will collect the consideration to which it will be entitled.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000041","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000041","tested_point":"QST.IFRS15.000041","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §9"],"exercise":{"prompt":{"fr":"","en":"To assess whether it is probable that it will collect the consideration to which it will be entitled, what does the entity consider under IFRS 15?","es":""},"explanation":{"fr":"","en":"The assessment of collectability concerns the customer's ability and intention to pay the consideration when it becomes due (IFRS 15, para. 9). The information available on the customer feeds into this assessment, which is a matter of the entity's judgement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Its own ability to sell the receivable to a financial institution.","es":""},"correct":false,"feedback":{"fr":"","en":"The possibility of selling a receivable says nothing about the customer's ability and intention to pay.","es":""}},{"id":"B","text":{"fr":"","en":"The customer's ability and intention to pay when due.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The past growth of the customer's industry.","es":""},"correct":false,"feedback":{"fr":"","en":"Overall industry data does not replace analysis of this customer's ability and intention.","es":""}},{"id":"D","text":{"fr":"","en":"Its own cash needs at the due date.","es":""},"correct":false,"feedback":{"fr":"","en":"The entity's cash needs are unrelated to collection from the customer.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000042","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000042","tested_point":"QST.IFRS15.000042","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §12"],"exercise":{"prompt":{"fr":"","en":"On 1 March 20X1, Nordex and a customer sign an agreement for the supply of sensors. At that date, no sensor has been delivered and no amount has been paid or is due. The contract allows each party to terminate it at any time before the first delivery, without compensating the other. Is there a contract under IFRS 15 at 1 March 20X1?","es":""},"explanation":{"fr":"","en":"There is no contract under the standard when each party can unilaterally terminate a wholly unperformed contract without compensating the other, that is, a contract for which no good or service has been transferred and no consideration has been received or is due (IFRS 15, para. 12). This is the case here at 1 March 20X1.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, since the agreement is signed by both parties.","es":""},"correct":false,"feedback":{"fr":"","en":"Signature is not enough: the contract is wholly unperformed and each party can terminate it without compensation.","es":""}},{"id":"B","text":{"fr":"","en":"No, because the contract is wholly unperformed and each party can terminate it unilaterally without compensation.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Yes, but only for Nordex, because it is the customer that can terminate.","es":""},"correct":false,"feedback":{"fr":"","en":"The case states that each party, not only the customer, can terminate without compensation.","es":""}},{"id":"D","text":{"fr":"","en":"No, because a contract exists only after the customer's first payment.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment is not a condition for existence; the reason lies in the wholly unperformed, terminable contract.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000043","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000043","tested_point":"QST.IFRS15.000043","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §11"],"exercise":{"prompt":{"fr":"","en":"For a contract with no fixed duration or that renews automatically, the entity applies IFRS 15 to the contractual period in which the parties have present enforceable rights and obligations.","es":""},"explanation":{"fr":"","en":"Some contracts have no fixed duration or renew automatically; the standard then applies to the period in which the parties have present enforceable rights and obligations (IFRS 15, para. 11).","es":""},"common_error":{"fr":"","en":"Using the expected length of the business relationship rather than the period of enforceable rights and obligations.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000044","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000044","tested_point":"QST.IFRS15.000044","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §11"],"exercise":{"prompt":{"fr":"","en":"Sportéa offers a club a maintenance subscription for its equipment, renewed automatically each month. Each party may end it at any time, without penalty, with effect at the end of the current month. It is established (legal analysis, case datum) that the enforceable rights and obligations cover only the current month. The club has been a subscriber for three years and Sportéa expects it to remain one. Over what period does Sportéa apply IFRS 15 to this contract?","es":""},"explanation":{"fr":"","en":"For a contract that renews automatically, the entity applies the standard to the contractual period in which the parties have present enforceable rights and obligations (IFRS 15, para. 11). According to the legal analysis provided, this is the current month; the expectation of renewal does not create enforceable rights.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Over three years, the past length of the relationship.","es":""},"correct":false,"feedback":{"fr":"","en":"The length of the relationship does not create present enforceable rights and obligations.","es":""}},{"id":"B","text":{"fr":"","en":"Over the useful life of the club's equipment.","es":""},"correct":false,"feedback":{"fr":"","en":"The useful life of the equipment is unrelated to the period of enforceable rights and obligations.","es":""}},{"id":"C","text":{"fr":"","en":"Over the total period during which Sportéa hopes to keep this customer.","es":""},"correct":false,"feedback":{"fr":"","en":"A mere expectation of renewal does not create enforceable rights and obligations.","es":""}},{"id":"D","text":{"fr":"","en":"Over the current month, the period of present enforceable rights and obligations.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000045","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000045","tested_point":"QST.IFRS15.000045","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §13"],"exercise":{"prompt":{"fr":"","en":"The criteria for the existence of a contract were met at contract inception. In what case must the entity reassess them?","es":""},"explanation":{"fr":"","en":"When the criteria are met at contract inception, the entity does not reassess them unless there is an indication of a significant change in facts and circumstances; a significant deterioration in the customer's ability to pay thus leads to a reassessment of collectability for the remaining goods or services to be transferred (IFRS 15, para. 13).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"At every reporting date, systematically.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not require a systematic reassessment at every reporting date.","es":""}},{"id":"B","text":{"fr":"","en":"If there is an indication of a significant change in facts and circumstances, for example a significant deterioration in the customer's ability to pay.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Never: once met at inception, the criteria are no longer re-examined.","es":""},"correct":false,"feedback":{"fr":"","en":"Reassessment is required if there is a significant change in facts and circumstances.","es":""}},{"id":"D","text":{"fr":"","en":"As soon as the customer pays a few days late, whatever the significance.","es":""},"correct":false,"feedback":{"fr":"","en":"A slight, isolated delay is not in itself a significant change in facts and circumstances; its significance must be assessed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000046","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000046","tested_point":"QST.IFRS15.000046","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §13"],"exercise":{"prompt":{"fr":"","en":"Sorbel delivers components to Gravex every month under a two-year contract; the criteria for the existence of the contract were met at inception. In the tenth month, Gravex loses its main customer and access to its credit lines: its ability to pay deteriorates significantly (case datum). What must Sorbel do?","es":""},"explanation":{"fr":"","en":"Once the criteria are met at inception, the entity reassesses them only if there is an indication of a significant change in facts and circumstances. A significant deterioration in the customer's ability to pay is an example: Sorbel reassesses collectability for the goods still to be transferred (IFRS 15, para. 13). The conclusion of this reassessment is a matter of its judgement.","es":""},"common_error":{"fr":"","en":"Ignoring a significant change in the customer's situation on the grounds that the criteria were originally met.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Nothing: since the criteria were met at inception, they are never reassessed.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard specifically requires a reassessment when there is a significant change in facts and circumstances.","es":""}},{"id":"B","text":{"fr":"","en":"Reassess collectability for the components still to be delivered.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Reverse all revenue recognised since the beginning of the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"The reassessment concerns the goods or services still to be transferred, not transfers already made.","es":""}},{"id":"D","text":{"fr":"","en":"From now on reassess all the criteria every month, even without any new change.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing requires a systematic monthly reassessment; only a significant change triggers it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000047","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000047","tested_point":"QST.IFRS15.000047","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §9"],"exercise":{"prompt":{"fr":"","en":"Ilvane signs a contract of 1,000,000 with a customer in a market where it has a practice of granting price concessions. It expects (documented judgement, case datum) to accept 800,000 in settlement. The customer has the ability and intention to pay 800,000, but not 1,000,000. On what amount does Ilvane assess collectability?","es":""},"explanation":{"fr":"","en":"Collectability concerns the consideration to which the entity will be entitled, which may be lower than the contractual price when the entity may offer a price concession; it is assessed on the customer's ability and intention to pay (IFRS 15, para. 9). The assessment therefore concerns 800,000. The estimate of the concession is a case datum resulting from Ilvane's judgement; it is not tested here.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On 1,000,000, the contractual price; as collection of that amount is not probable, there is no contract.","es":""},"correct":false,"feedback":{"fr":"","en":"The contractual price is not the reference when the entity expects to grant a price concession.","es":""}},{"id":"B","text":{"fr":"","en":"On 800,000, the consideration to which Ilvane expects to be entitled given the price concession.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"On no amount: the existence of a price concession removes the need to assess collectability.","es":""},"correct":false,"feedback":{"fr":"","en":"A price concession does not remove the need to assess collectability; it changes its basis.","es":""}},{"id":"D","text":{"fr":"","en":"On 200,000, the amount of the expected concession.","es":""},"correct":false,"feedback":{"fr":"","en":"200,000 is the expected concession, not the consideration whose collectability is assessed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000048","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000048","tested_point":"QST.IFRS15.000048","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §15","IFRS 15 §16"],"exercise":{"prompt":{"fr":"","en":"At contract inception, Lumen concludes that collection of the consideration is not probable (documented judgement, case datum): the arrangement does not meet the criteria for a contract. The customer nevertheless pays a non-refundable deposit of 50,000; Lumen is still required to deliver the machines ordered, which it has not yet delivered. How does it account for the deposit on receipt?","es":""},"explanation":{"fr":"","en":"When the arrangement does not meet the criteria, consideration received is recognised as revenue only if the entity has no remaining obligation to transfer and has received all, or substantially all, of the promised consideration, which is non-refundable, or if the contract has been terminated and the consideration received is non-refundable (IFRS 15, para. 15). Neither situation has occurred: the deposit is recognised as a liability, measured at the amount received of 50,000 (IFRS 15, para. 16).","es":""},"common_error":{"fr":"","en":"Recognising revenue on an arrangement whose collection is not probable from the outset.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As revenue of 50,000, since the deposit is non-refundable.","es":""},"correct":false,"feedback":{"fr":"","en":"Being non-refundable is not enough: Lumen still has to deliver the machines.","es":""}},{"id":"B","text":{"fr":"","en":"As a liability of 50,000, until an event provided for by the standard occurs or the criteria are met.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As a contract asset of 50,000.","es":""},"correct":false,"feedback":{"fr":"","en":"A deposit received before any transfer is not a contract asset: it is an amount received that creates an obligation.","es":""}},{"id":"D","text":{"fr":"","en":"Half as revenue and half as a liability, i.e. 25,000 each.","es":""},"correct":false,"feedback":{"fr":"","en":"No requirement allows the deposit to be split between revenue and liability in this situation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000049","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000049","tested_point":"QST.IFRS15.000049","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §15","IFRS 15 §16"],"exercise":{"prompt":{"fr":"","en":"In 20X1, Tessane received 30,000 from a customer under an arrangement that did not meet the criteria for a contract; this amount was recognised as a liability. In 20X2, the contract is terminated; under its terms, the amount received is non-refundable. What does Tessane do in 20X2?","es":""},"explanation":{"fr":"","en":"Consideration received under an arrangement that does not meet the criteria is recognised as a liability until an event provided for by the standard occurs (IFRS 15, para. 16). Termination of the contract, when the consideration received is non-refundable, is one of these events: Tessane recognises revenue of 30,000 (IFRS 15, para. 15).","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It keeps the liability of 30,000 until any possible claim by the customer has expired.","es":""},"correct":false,"feedback":{"fr":"","en":"Termination with non-refundable consideration is precisely the event that allows revenue to be recognised.","es":""}},{"id":"B","text":{"fr":"","en":"It recognises revenue of 30,000.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It refunds the 30,000 to the customer and settles the liability.","es":""},"correct":false,"feedback":{"fr":"","en":"The case states that the amount is non-refundable.","es":""}},{"id":"D","text":{"fr":"","en":"It records the 30,000 directly in equity.","es":""},"correct":false,"feedback":{"fr":"","en":"Consideration received from a customer does not pass through equity.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000050","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000050","tested_point":"QST.IFRS15.000050","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §14"],"exercise":{"prompt":{"fr":"","en":"When an arrangement does not meet the criteria for a contract at inception, the entity can never account for it as a contract under IFRS 15, even if the situation changes.","es":""},"explanation":{"fr":"","en":"If an arrangement does not meet the criteria, the entity continues to assess it to determine whether the criteria are subsequently met (IFRS 15, para. 14). An arrangement can therefore become a contract accounted for under the standard once the criteria are met.","es":""},"common_error":{"fr":"","en":"Permanently freezing the initial conclusion on the existence of the contract.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000051","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000051","tested_point":"QST.IFRS15.000051","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §15"],"exercise":{"prompt":{"fr":"","en":"An arrangement with a customer does not meet the criteria for a contract, and the entity has received consideration. In which situations can it recognise this consideration as revenue?","es":""},"explanation":{"fr":"","en":"When an arrangement does not meet the criteria, consideration received is recognised as revenue only if (a) the entity has no remaining obligation to transfer and has received substantially all of the promised consideration, which is non-refundable, or (b) the contract has been terminated and the consideration received is non-refundable (IFRS 15, para. 15). In other cases, it remains a liability.","es":""},"common_error":{"fr":"","en":"Recognising revenue as soon as the deposit is non-refundable, while an obligation to transfer remains.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity still has to deliver the promised goods, but the consideration received is non-refundable.","es":""},"correct":false,"feedback":{"fr":"","en":"An obligation to deliver remains: being non-refundable is not enough.","es":""}},{"id":"B","text":{"fr":"","en":"The entity has no remaining obligation to transfer goods or services and has received substantially all of the promised consideration, which is non-refundable.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The contract has been terminated, but the consideration received must be refunded to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Refundable consideration cannot be recognised as revenue on termination.","es":""}},{"id":"D","text":{"fr":"","en":"The contract has been terminated and the consideration received is non-refundable.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The entity has transferred all the goods but has received only 50% of the promised consideration.","es":""},"correct":false,"feedback":{"fr":"","en":"Half of the consideration is not substantially all of it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000054","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000054","tested_point":"QST.IFRS15.000054","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"contract-definition"},"references":["IFRS 15 §13","IFRS 15 §15","IFRS 15 §16"],"exercise":{"prompt":{"fr":"","en":"Méridia provides maintenance services to Ostrel every month under a three-year contract that met the criteria at inception. In the eighteenth month, Ostrel's financial position deteriorates sharply; Méridia reassesses collectability and concludes (documented judgement, case datum) that it is no longer probable for the services still to be provided. It nevertheless continues its services and receives 5,000 from Ostrel in the nineteenth month for that month's services, all earlier invoices having already been settled; its performance obligations for the following months remain and the contract is not terminated. How does Méridia account for the 5,000 received?","es":""},"explanation":{"fr":"","en":"A significant change in facts and circumstances leads to a reassessment of collectability for the remaining goods or services to be transferred (IFRS 15, para. 13). As Méridia has concluded that the criteria are no longer met for the rest of the contract, consideration received is recognised as revenue only if the entity has no remaining obligation to transfer and has received all, or substantially all, of the promised consideration, which is non-refundable, or if the contract has been terminated and the consideration received is non-refundable (IFRS 15, para. 15). Neither situation has occurred: the 5,000 is recognised as a liability at the amount received (IFRS 15, para. 16).","es":""},"common_error":{"fr":"","en":"Recognising revenue on an arrangement whose collection is no longer probable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As revenue of 5,000, since the amount has actually been collected.","es":""},"correct":false,"feedback":{"fr":"","en":"Collection is not enough when the criteria are no longer met: an event provided for by the standard is needed.","es":""}},{"id":"B","text":{"fr":"","en":"As a liability of 5,000, as long as no event provided for by the standard occurs and the criteria are not met again.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As a reduction of the revenue recognised during the first eighteen months.","es":""},"correct":false,"feedback":{"fr":"","en":"The reassessment concerns the services still to be provided; it does not call into question the revenue of past months.","es":""}},{"id":"D","text":{"fr":"","en":"As revenue of 5,000, because criteria met at inception can no longer be called into question.","es":""},"correct":false,"feedback":{"fr":"","en":"The criteria can be reassessed if there is a significant change in facts and circumstances, which is the case here.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000055","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000055","tested_point":"QST.IFRS15.000055","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §18"],"exercise":{"prompt":{"fr":"","en":"Valtenor and its customer agree orally, during a site meeting, to extend the scope of the work. No written amendment is signed, but both parties customarily work on the basis of such verbal agreements. In the absence of a written amendment, there cannot be a contract modification under IFRS 15.","es":""},"explanation":{"fr":"","en":"A contract modification is a change in the scope and/or price approved by the parties; that approval may be written, oral or implied by customary business practices (IFRS 15, para. 18). The oral agreement, consistent with the parties' customary practices, may therefore be sufficient: the absence of a written amendment does not prevent a modification from existing.","es":""},"common_error":{"fr":"","en":"Confusing the legal form of the amendment with the approval of the modification.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000056","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000056","tested_point":"QST.IFRS15.000056","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §18","IFRS 15 §19"],"exercise":{"prompt":{"fr":"","en":"The Orbéliane group is building a plant for a customer. The parties have approved in writing the addition of a loading dock but have not yet agreed on the corresponding price increase. Until that increase is set, Orbéliane must disregard the modification entirely in the transaction price.","es":""},"explanation":{"fr":"","en":"A modification may exist even if the parties have not yet determined the corresponding change in price (IFRS 15, para. 18). When the change in scope is approved, the entity estimates the change to the transaction price in accordance with the requirements on variable consideration, including the constraint (IFRS 15, para. 19). Orbéliane must therefore estimate the expected increase and include only the portion that meets the constraint; the amount retained is a matter of judgement.","es":""},"common_error":{"fr":"","en":"Waiting for agreement on the price before recognising the modification.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000057","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000057","tested_point":"QST.IFRS15.000057","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §20"],"exercise":{"prompt":{"fr":"","en":"Under IFRS 15, under what conditions is a contract modification accounted for as a separate contract?","es":""},"explanation":{"fr":"","en":"A modification is a separate contract if two conditions are met: the scope increases because of the addition of promised goods or services that are distinct, and the price increases by an amount that reflects the stand-alone selling prices of those additions, adjusted as appropriate for the circumstances of the contract (IFRS 15, para. 20).","es":""},"common_error":{"fr":"","en":"Forgetting the price condition.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As soon as the modification adds distinct promised goods or services, whatever the price agreed for those additions.","es":""},"correct":false,"feedback":{"fr":"","en":"Incomplete: adding distinct goods is not enough, the price must also reflect their stand-alone selling prices.","es":""}},{"id":"B","text":{"fr":"","en":"When it adds distinct goods or services and the price increases by an amount reflecting their stand-alone selling prices, adjusted for the circumstances.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As soon as the contract price increases, even if no good or service is added to the scope of the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: without the addition of distinct goods or services, the modification cannot be a separate contract.","es":""}},{"id":"D","text":{"fr":"","en":"When the modification takes the form of a written amendment signed by both parties, regardless of its content and price.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the form of the agreement is irrelevant; only the two conditions on scope and price matter.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000058","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000058","tested_point":"QST.IFRS15.000058","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Lumiréo has undertaken to deliver 1,000 light fittings at EUR 300 each; each light fitting is a distinct good whose control is transferred on delivery. After 400 deliveries, the customer orders 200 additional light fittings at EUR 285 each. The stand-alone selling price of a light fitting is EUR 300; Lumiréo has documented that the EUR 15 reduction corresponds to selling costs it does not need to incur for this existing customer, and treats it as an adjustment to the stand-alone selling price justified by the circumstances of the contract. How does Lumiréo account for the modification?","es":""},"explanation":{"fr":"","en":"The 200 additional light fittings are distinct and their price reflects the stand-alone selling price, adjusted for the circumstances of the contract: both conditions for a separate contract are met (IFRS 15, para. 20). Classifying the EUR 15 reduction as an adjustment for the circumstances is a judgement documented by Lumiréo (case data). The remaining 600 light fittings of the original contract continue to be recognised at EUR 300, and the approaches in paragraph 21 are not used (IFRS 15, para. 21).","es":""},"common_error":{"fr":"","en":"Considering that any reduction from the stand-alone selling price rules out a separate contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a separate contract: the 200 additional light fittings are recognised at EUR 285 each, with no effect on the original contract.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As part of the existing contract, through a cumulative catch-up adjustment to the revenue already recognised on the 400 fittings delivered.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the cumulative catch-up applies to remaining work that is not distinct within a partially satisfied obligation; here, the modification is a separate contract.","es":""}},{"id":"C","text":{"fr":"","en":"As the termination of the original contract and the creation of a new one, the remaining price being spread over the 800 remaining fittings.","es":""},"correct":false,"feedback":{"fr":"","en":"No: this treatment applies only if the modification is not a separate contract; yet both conditions of paragraph 20 are met.","es":""}},{"id":"D","text":{"fr":"","en":"It does not account for it: a unit price below the stand-alone selling price prevents any modification.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the order is approved by the parties; a price adjusted for the circumstances does not prevent the modification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000059","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000059","tested_point":"QST.IFRS15.000059","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §18"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about the existence of a contract modification are correct?","es":""},"explanation":{"fr":"","en":"A modification is a change in scope and/or price approved by the parties, in writing, orally or implicitly through customary business practices; until it is approved, the entity continues to apply the standard to the existing contract; it may exist even if the parties dispute the scope or price or have not yet determined the change in price (IFRS 15, para. 18). A price increase decided by the entity alone is not approved by the parties.","es":""},"common_error":{"fr":"","en":"Requiring full agreement on the price before recognising a modification.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Approval may be written, oral or implied by customary business practices.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A modification exists only once the parties have agreed on the change in price.","es":""},"correct":false,"feedback":{"fr":"","en":"False: a modification may exist while the change in price has not yet been determined.","es":""}},{"id":"C","text":{"fr":"","en":"Until the modification is approved, the entity continues to apply the standard to the existing contract.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A modification may exist even if the parties dispute its scope or price.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A price increase decided by the entity alone, without the customer's agreement, is a contract modification.","es":""},"correct":false,"feedback":{"fr":"","en":"False: a modification requires approval by the parties.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000060","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000060","tested_point":"QST.IFRS15.000060","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"A contract modification is not a separate contract. Which of the following statements are correct?","es":""},"explanation":{"fr":"","en":"If the remaining goods or services are distinct from those already transferred, the modification is treated as the termination of the existing contract and the creation of a new contract, prospectively; if they are not distinct and form part of a partially satisfied performance obligation, the effect on the transaction price and on the measure of progress is recognised as a cumulative catch-up adjustment; in a combination, each approach is applied consistently with its objectives (IFRS 15, para. 21).","es":""},"common_error":{"fr":"","en":"Applying a cumulative catch-up when the remaining goods are distinct.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"If the remaining goods or services are distinct from those already transferred, the modification is treated prospectively as the termination of the existing contract and the creation of a new contract.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"If the remaining goods or services are distinct from those already transferred, the effect of the modification is recognised as a cumulative catch-up adjustment to revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"False: the cumulative catch-up concerns remaining goods or services that are not distinct within a partially satisfied obligation.","es":""}},{"id":"C","text":{"fr":"","en":"If the remaining goods or services are not distinct and form part of a partially satisfied obligation, the effect on the price and on progress is recognised as a cumulative catch-up adjustment.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"When the modification combines both situations, the entity must use a single approach for the whole contract.","es":""},"correct":false,"feedback":{"fr":"","en":"False: in a combination, each approach is applied consistently with its objectives.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000061","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000201","tested_point":"VG.IFRS15.000201","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Sofaline has undertaken to deliver {initial_units} office chairs at EUR {initial_price} each; each chair is a distinct good whose control is transferred on delivery. After {units_delivered} chairs have been delivered, the parties approve the addition of {added_units} chairs at a unit price of EUR {added_price}, whereas the stand-alone selling price of a chair is EUR {ssp_at_modification} at that date; the reduction is a commercial gesture unrelated to that price. Compute the unit price at which Sofaline recognises revenue for each chair remaining to be delivered after the modification.","es":""},"explanation":{"fr":"","en":"The price of the additions (EUR 60) does not reflect the stand-alone selling price (EUR 80): the modification is not a separate contract (IFRS 15, para. 20). As the remaining chairs are distinct from those already delivered, the modification is treated as the termination of the old contract and the creation of a new one, prospectively (IFRS 15, para. 21): the consideration not yet recognised and the consideration of the modification are allocated to the remaining chairs. Remaining consideration: (500 − 200) × 80 = 24,000; added consideration: 100 × 60 = 6,000; remaining chairs: 300 + 100 = 400. Unit price: 30,000 / 400 = EUR 75. Revenue on the chairs already delivered is not adjusted.","es":""},"common_error":{"fr":"","en":"Recognising the added chairs at EUR 60 as a separate contract.","es":""},"format":"CALCULATION","placeholders":[{"id":"initial_units","value":"500","unit":"UNITS"},{"id":"initial_price","value":"80","unit":"EUR"},{"id":"units_delivered","value":"200","unit":"UNITS"},{"id":"added_units","value":"100","unit":"UNITS"},{"id":"added_price","value":"60","unit":"EUR"},{"id":"ssp_at_modification","value":"80","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Number of chairs in the original contract","es":""},"value":"500","unit":"UNITS"},{"label":{"fr":"","en":"Unit price in the original contract","es":""},"value":"80","unit":"EUR"},{"label":{"fr":"","en":"Chairs delivered before the modification","es":""},"value":"200","unit":"UNITS"},{"label":{"fr":"","en":"Chairs added by the modification","es":""},"value":"100","unit":"UNITS"},{"label":{"fr":"","en":"Unit price of the added chairs","es":""},"value":"60","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of a chair at the modification date","es":""},"value":"80","unit":"EUR"}],"steps":[{"id":"REMAINING_UNIT_PRICE","label":{"fr":"","en":"Revenue recognised per chair remaining to be delivered","es":""},"answer":75,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000062","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS","IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000201","tested_point":"VG.IFRS15.000201","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §20","IFRS 15 §21","IFRS 15 §22"],"exercise":{"prompt":{"fr":"","en":"Netalys provides a customer with a weekly office cleaning service for {initial_term} years, for EUR {annual_fee} per year. Each week of service is distinct and together they form a series treated as a single performance obligation. After {years_elapsed} years of performance, the customer agrees to extend the contract by {extension_term} years for EUR {extension_fee} per year, whereas the stand-alone selling price of the service is then EUR {ssp_annual} per year. The service is provided evenly. Compute the annual revenue that Netalys will recognise for each of the remaining years.","es":""},"explanation":{"fr":"","en":"The price of the extension (EUR 9,000 per year) does not reflect the stand-alone selling price (EUR 12,500 per year): the modification is not a separate contract (IFRS 15, para. 20). The remaining services are distinct from those already provided, even though they belong to a series treated as a single obligation (IFRS 15, para. 22): the modification is therefore treated prospectively as the termination of the old contract and the creation of a new one (IFRS 15, para. 21). Consideration not yet recognised: 12,000 × (3 − 2) = 12,000; added consideration: 9,000 × 3 = 27,000; total 39,000 spread over 1 + 3 = 4 remaining years, i.e. EUR 9,750 per year. The straight-line spread follows from the assumption of an even service.","es":""},"common_error":{"fr":"","en":"Accounting for the extension as a separate contract at EUR 9,000 per year.","es":""},"format":"CALCULATION","placeholders":[{"id":"initial_term","value":"3","unit":"YEARS"},{"id":"annual_fee","value":"12000","unit":"EUR"},{"id":"years_elapsed","value":"2","unit":"YEARS"},{"id":"extension_term","value":"3","unit":"YEARS"},{"id":"extension_fee","value":"9000","unit":"EUR"},{"id":"ssp_annual","value":"12500","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Original contract term","es":""},"value":"3","unit":"YEARS"},{"label":{"fr":"","en":"Annual price in the original contract","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Years already performed at the modification date","es":""},"value":"2","unit":"YEARS"},{"label":{"fr":"","en":"Term of the extension","es":""},"value":"3","unit":"YEARS"},{"label":{"fr":"","en":"Annual price agreed for the extension","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"Annual stand-alone selling price of the service at the modification date","es":""},"value":"12500","unit":"EUR"}],"steps":[{"id":"REVENUE_AFTER_MODIFICATION","label":{"fr":"","en":"Annual revenue recognised after the modification","es":""},"answer":9750,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000063","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS","IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000202","tested_point":"VG.IFRS15.000202","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §21","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Bâtiroc is constructing an office building on its customer's land; the contract is a single performance obligation satisfied over time, with progress measured as costs incurred relative to total expected costs. Price: EUR {initial_price}; total expected costs: EUR {initial_costs}. At the end of 20X1, costs incurred amount to EUR {costs_incurred} and the revenue recognised reflects progress. Early in 20X2, the parties approve a change to the plans: price increased by EUR {price_increase}, expected costs increased by EUR {additional_costs}. The remaining work is not distinct from the work already performed. Compute the cumulative catch-up adjustment (decrease in revenue) recognised at the modification date.","es":""},"explanation":{"fr":"","en":"The remaining work is not distinct and forms part of a partially satisfied performance obligation: the modification is treated as part of the existing contract and its effect is recognised as a cumulative catch-up adjustment to revenue (IFRS 15, para. 21). Before the modification: progress 400,000 / 800,000 = 50%, revenue 1,000,000 × 50% = 500,000. After: price 1,200,000, expected costs 1,000,000, progress 400,000 / 1,000,000 = 40%, cumulative revenue 1,200,000 × 40% = 480,000. Adjustment: 480,000 − 500,000 = decrease of 20,000. Measuring progress by costs incurred is an input method (IFRS 15, para. B18), used here as case data.","es":""},"common_error":{"fr":"","en":"Allocating the modification only to future work.","es":""},"format":"CALCULATION","placeholders":[{"id":"initial_price","value":"1000000","unit":"EUR"},{"id":"initial_costs","value":"800000","unit":"EUR"},{"id":"costs_incurred","value":"400000","unit":"EUR"},{"id":"price_increase","value":"200000","unit":"EUR"},{"id":"additional_costs","value":"200000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Original contract price","es":""},"value":"1000000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs before the modification","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at the modification date","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Approved price increase","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Increase in expected costs","es":""},"value":"200000","unit":"EUR"}],"steps":[{"id":"CATCH_UP_DECREASE","label":{"fr":"","en":"Decrease in revenue at the modification date","es":""},"answer":20000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000064","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS","IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000202","tested_point":"VG.IFRS15.000202","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §21","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"The Navirex shipyard is building a research vessel for an oceanographic institute. The contract is a single performance obligation satisfied over time; progress is measured using costs incurred. Agreed price: EUR {contract_price}; expected costs: EUR {expected_costs}; costs incurred at 31 December 20X1: EUR {costs_to_date}. On 2 January 20X2, the institute approves the installation of an on-board laboratory integrated into the hull: the price increases by EUR {price_change} and expected costs by EUR {cost_change}. This work is not distinct from the vessel under construction. Compute the cumulative revenue after the modification and the cumulative catch-up adjustment (increase in revenue) recognised on 2 January 20X2.","es":""},"explanation":{"fr":"","en":"The laboratory is not distinct and is part of a partially satisfied obligation: the effect of the modification on the transaction price and on progress is recognised as a cumulative catch-up adjustment (IFRS 15, para. 21). Before: progress 720,000 / 1,800,000 = 40%, revenue 2,400,000 × 40% = 960,000. After: price 3,000,000, expected costs 2,000,000, progress 720,000 / 2,000,000 = 36%, cumulative revenue 3,000,000 × 36% = 1,080,000. Adjustment: 1,080,000 − 960,000 = increase of 120,000. The cost-based method (IFRS 15, para. B18) is case data.","es":""},"common_error":{"fr":"","en":"Recognising the price increase only in future periods.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"2400000","unit":"EUR"},{"id":"expected_costs","value":"1800000","unit":"EUR"},{"id":"costs_to_date","value":"720000","unit":"EUR"},{"id":"price_change","value":"600000","unit":"EUR"},{"id":"cost_change","value":"200000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Original contract price","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Expected costs before the modification","es":""},"value":"1800000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at 31 December 20X1","es":""},"value":"720000","unit":"EUR"},{"label":{"fr":"","en":"Price increase for the laboratory","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Increase in expected costs","es":""},"value":"200000","unit":"EUR"}],"steps":[{"id":"CUMULATIVE_REVENUE","label":{"fr":"","en":"Cumulative revenue after the modification","es":""},"answer":1080000,"tolerance":0,"unit":"EUR"},{"id":"CATCH_UP_INCREASE","label":{"fr":"","en":"Increase in revenue on 2 January 20X2","es":""},"answer":120000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000065","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000065","tested_point":"QST.IFRS15.000065","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §20","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Ferlance sells 2,000 pallets of wood pellets at EUR 150 per pallet, a price equal to the stand-alone selling price; each pallet is a distinct good delivered separately. After 1,200 deliveries, the customer obtains the addition of 500 pallets at EUR 72, a discount granted to preserve the business relationship and unrelated to the stand-alone selling price, which remains EUR 150. The chief financial officer proposes to account for the 500 pallets as a separate contract at EUR 72. What analysis do you retain?","es":""},"explanation":{"fr":"","en":"The price of the added pallets does not reflect their stand-alone selling price: the price condition for a separate contract is not met (IFRS 15, para. 20). As the remaining pallets are distinct from those already delivered, the modification is treated as the termination of the old contract and the creation of a new one, prospectively (IFRS 15, para. 21): (800 × 150 + 500 × 72) / 1,300 = EUR 120 per remaining pallet, with no adjustment to the 1,200 pallets already delivered.","es":""},"common_error":{"fr":"","en":"Treating as a separate contract an addition sold at a discount unrelated to the stand-alone selling price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The proposal is correct: distinct pallets are added, which is sufficient for a separate contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: adding distinct goods is not enough, their price must reflect the stand-alone selling price.","es":""}},{"id":"B","text":{"fr":"","en":"The modification is part of the existing contract: at the modification date, Ferlance recognises a cumulative catch-up adjustment to the revenue already recognised on the 1,200 pallets delivered, then continues at the new average price.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the cumulative catch-up concerns remaining goods that are not distinct; here, the remaining pallets are distinct.","es":""}},{"id":"C","text":{"fr":"","en":"It is not a separate contract, as the price does not reflect the stand-alone selling price; as the remaining pallets are distinct, the modification is treated prospectively as a new contract.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No modification is accounted for until the first 1,200 pallets have been paid for.","es":""},"correct":false,"feedback":{"fr":"","en":"No: approval by the parties is sufficient; payment for past deliveries is not a condition.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000066","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000066","tested_point":"QST.IFRS15.000066","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §21","IFRS 15 §20"],"exercise":{"prompt":{"fr":"","en":"Codexa is developing a loan management system for a bank; the contract is a single performance obligation, satisfied over time and 60% complete. The parties approve the addition of a credit-scoring module integrated into the core of the system: it modifies the architecture already delivered and can only work with it. The price increases by an amount below the stand-alone selling price of such a module. How does Codexa account for this modification?","es":""},"explanation":{"fr":"","en":"The added module is not distinct: it is integrated into the work in progress. The modification is therefore not a separate contract (IFRS 15, para. 20). As the remaining work is not distinct and forms part of a partially satisfied obligation, the effect of the modification on the transaction price and on the measure of progress is recognised as a cumulative catch-up adjustment to revenue at the modification date (IFRS 15, para. 21). Assessing that the module is not distinct is a matter of judgement, supported here by the facts of the case.","es":""},"common_error":{"fr":"","en":"Applying the prospective treatment to remaining work that is not distinct.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It treats the modification prospectively as a new contract covering the module and the rest of the system, without changing the revenue already recognised.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the prospective treatment requires the remaining goods or services to be distinct from those already transferred, which is not the case here.","es":""}},{"id":"B","text":{"fr":"","en":"It accounts for the module as a separate contract, since the customer has approved a price increase.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the module is not distinct and its price does not reflect its stand-alone selling price; neither condition is met.","es":""}},{"id":"C","text":{"fr":"","en":"It restates the financial statements of prior periods to reflect the new price from the start of the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the cumulative catch-up adjustment is recognised at the modification date, without restating past periods.","es":""}},{"id":"D","text":{"fr":"","en":"It recognises a cumulative catch-up adjustment to revenue, reflecting the new price and the new measure of progress.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000067","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000067","tested_point":"QST.IFRS15.000067","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000009","section_id":"approval"},"references":["IFRS 15 §18","IFRS 15 §19"],"exercise":{"prompt":{"fr":"","en":"Hydrovia is performing a civil engineering contract. The customer has approved a change of route that adds work, but still disputes the amount of the price increase claimed by Hydrovia. How does Hydrovia treat the change in price at the reporting date?","es":""},"explanation":{"fr":"","en":"The modification exists once the change in scope is approved, even if the price is disputed or not yet determined (IFRS 15, para. 18). The change in the transaction price is then estimated in accordance with the requirements on variable consideration and its constraint (IFRS 15, para. 19): only the portion for which it is highly probable that inclusion will not result in a significant reversal of cumulative revenue is retained, which is a matter of Hydrovia's judgement.","es":""},"common_error":{"fr":"","en":"Ignoring the modification until the price is set.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It disregards any increase as long as the customer disputes the amount, because a disagreement on the price prevents the existence of a contract modification under IFRS 15.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a disagreement on the price does not prevent the existence of a modification whose scope is approved.","es":""}},{"id":"B","text":{"fr":"","en":"It estimates the increase under the requirements on variable consideration and includes in the transaction price only the portion that meets the constraint.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It includes the full increase claimed, since the change of route has been approved by the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the estimate is subject to the constraint; the amount claimed is not retained automatically.","es":""}},{"id":"D","text":{"fr":"","en":"It recognises revenue equal to the costs of the additional work, without estimating the price increase.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the standard requires the change in the transaction price to be estimated under the requirements on variable consideration.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000069","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000069","tested_point":"QST.IFRS15.000069","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The promises to be analysed to identify performance obligations are limited to those explicitly written in the contract.","es":""},"explanation":{"fr":"","en":"The promises in a contract also include implied promises arising from customary business practices, published policies or specific statements of the entity, when they create a valid expectation of the customer, at contract inception, that a good or service will be transferred (IFRS 15, para. 24).","es":""},"common_error":{"fr":"","en":"Limiting the analysis to the wording of the contract.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000070","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000070","tested_point":"QST.IFRS15.000070","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §25"],"exercise":{"prompt":{"fr":"","en":"Activities that an entity must undertake to fulfil a contract without transferring a good or service to the customer, such as the internal opening of the customer's file, are not performance obligations.","es":""},"explanation":{"fr":"","en":"Performance obligations do not include activities needed to fulfil the contract that do not transfer any good or service to the customer, for example administrative tasks to launch the contract (IFRS 15, para. 25).","es":""},"common_error":{"fr":"","en":"Treating an internal administrative activity as a performance obligation.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000071","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000071","tested_point":"QST.IFRS15.000071","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §22","IFRS 15 §23"],"exercise":{"prompt":{"fr":"","en":"Gardalis undertakes to provide daily security guarding of a logistics site for 3 years. Each day of service is distinct and substantially the same as the others; according to the case data, each day would be an obligation satisfied over time, measured using the same method. Gardalis identifies a single performance obligation, not one obligation per day.","es":""},"explanation":{"fr":"","en":"A promise to transfer a series of distinct goods or services that are substantially the same and have the same pattern of transfer is a single performance obligation (IFRS 15, para. 22). The same pattern of transfer is established here, because each day would meet the criteria for an obligation satisfied over time and the same method of measuring progress would apply (IFRS 15, para. 23).","es":""},"common_error":{"fr":"","en":"Identifying as many obligations as there are days of service.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000072","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000072","tested_point":"QST.IFRS15.000072","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §23","IFRS 15 §22"],"exercise":{"prompt":{"fr":"","en":"Pressafil delivers an identical batch of mechanical parts every month for 2 years; each batch is distinct and its control is transferred to the customer on delivery, at a point in time. These deliveries have the same pattern of transfer under IFRS 15 and therefore form a series that is a single performance obligation.","es":""},"explanation":{"fr":"","en":"A series has the same pattern of transfer only if each item would meet the criteria for an obligation satisfied over time and the same method of measuring progress would apply (IFRS 15, para. 23). Batches whose control is transferred at a point in time do not meet this condition: they do not form a series, and each promise to transfer a distinct batch is a performance obligation (IFRS 15, para. 22).","es":""},"common_error":{"fr":"","en":"Treating regular deliveries of identical goods as a series under the standard.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000073","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000073","tested_point":"QST.IFRS15.000073","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §22"],"exercise":{"prompt":{"fr":"","en":"When does the entity identify the performance obligations in a contract?","es":""},"explanation":{"fr":"","en":"At contract inception, the entity assesses the goods or services promised and identifies as a performance obligation each promise to transfer a distinct good or service, or a series of distinct goods or services (IFRS 15, para. 22).","es":""},"common_error":{"fr":"","en":"Identifying obligations based on invoices.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"At contract inception, by assessing the goods or services promised.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"At each reporting date, based on the goods or services already delivered to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the identification is made at contract inception, not as deliveries take place.","es":""}},{"id":"C","text":{"fr":"","en":"On first invoicing, based on the lines shown on the invoice sent to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"No: invoicing is not the starting point of the analysis; the promises in the contract are.","es":""}},{"id":"D","text":{"fr":"","en":"On completion of the contract, once all deliveries have been made.","es":""},"correct":false,"feedback":{"fr":"","en":"No: waiting for the end of the contract would prevent revenue from being recognised as the contract is performed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000074","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000074","tested_point":"QST.IFRS15.000074","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15","IFRS 15 §26"],"exercise":{"prompt":{"fr":"","en":"Logivia sells accounting software. The signed contract does not mention updates, but the policy published by Logivia on its website, known to its customers at the time of purchase, states that regulatory updates will be provided free of charge for 2 years as soon as they become available. How does Logivia treat these updates when identifying its performance obligations?","es":""},"explanation":{"fr":"","en":"The published policy creates a valid expectation of the customer, at contract inception, of receiving the updates: it is an implied promise included in the contract (IFRS 15, para. 24). A service of providing updates when they become available is among the goods or services that may be promised (IFRS 15, para. 26). Logivia must then assess whether this service is distinct.","es":""},"common_error":{"fr":"","en":"Ignoring a promise because it is not in the written contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The updates are not promised services since the written contract does not mention them; their cost will simply be recognised as an expense as they are developed.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a published policy can create an implied promise, even if the written contract is silent.","es":""}},{"id":"B","text":{"fr":"","en":"The published policy creates a valid expectation: making the updates available is a promised service to be taken into account.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The updates are promised only if the customer requests them in writing after signing the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the valid expectation exists from contract inception, without any later request by the customer.","es":""}},{"id":"D","text":{"fr":"","en":"The published policy creates an obligation, but it falls only within a provision and not within IFRS 15.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a promise to transfer a service to the customer falls within the identification of performance obligations.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000075","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000075","tested_point":"QST.IFRS15.000075","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §25"],"exercise":{"prompt":{"fr":"","en":"Paylane enters into a payroll outsourcing contract. Which of the following activities transfers no service to the customer and is therefore not a performance obligation?","es":""},"explanation":{"fr":"","en":"Activities needed to fulfil the contract that do not transfer any good or service to the customer, such as administrative tasks to launch the contract, are not performance obligations (IFRS 15, para. 25). Opening the file and entering data into Paylane's internal systems are of that nature; payroll processing, training and returns are services transferred to the customer.","es":""},"common_error":{"fr":"","en":"Treating an internal administrative activity as a performance obligation.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Monthly processing of the payroll of the customer's employees.","es":""},"correct":false,"feedback":{"fr":"","en":"No: it is the main service transferred to the customer.","es":""}},{"id":"B","text":{"fr":"","en":"Training the customer's payroll staff to use the payslip portal, as provided for in the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: training transfers a service to the customer; it will only need to be assessed for distinctness.","es":""}},{"id":"C","text":{"fr":"","en":"Opening the customer file and entering its data into Paylane's internal systems.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Preparing and filing, on the customer's behalf, the annual social security returns provided for in the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: these returns are a service provided to the customer.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000076","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000076","tested_point":"QST.IFRS15.000076","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §22","IFRS 15 §23"],"exercise":{"prompt":{"fr":"","en":"Sécurio provides continuous remote monitoring of a customer's warehouses for 2 years, invoiced monthly. Each day of monitoring is distinct and substantially the same; according to the case data, each day would be an obligation satisfied over time whose progress would be measured based on time elapsed. How many performance obligations does Sécurio identify?","es":""},"explanation":{"fr":"","en":"The days of monitoring are distinct, substantially the same and have the same pattern of transfer, since each would be satisfied over time with the same method of measuring progress (IFRS 15, para. 23). They form a series that is a single performance obligation (IFRS 15, para. 22). The invoicing pattern has no effect on this analysis.","es":""},"common_error":{"fr":"","en":"Splitting the obligations according to invoicing periods.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"730 performance obligations, one per day of monitoring, since each day is distinct.","es":""},"correct":false,"feedback":{"fr":"","en":"No: distinct days forming a series are a single obligation.","es":""}},{"id":"B","text":{"fr":"","en":"A single performance obligation, made up of a series of distinct services that are substantially the same and have the same pattern of transfer.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"24 monthly performance obligations, corresponding to the invoicing periods.","es":""},"correct":false,"feedback":{"fr":"","en":"No: invoicing does not determine the performance obligations.","es":""}},{"id":"D","text":{"fr":"","en":"No performance obligation until the contract is completed, because daily monitoring does not transfer any tangible good to the customer during performance.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a service is transferred to the customer every day; the absence of a tangible good is irrelevant.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000077","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000077","tested_point":"QST.IFRS15.000077","difficulty":"BEGINNER","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §26","IFRS 15 §25"],"exercise":{"prompt":{"fr":"","en":"Which of the following may be goods or services promised to a customer in a contract?","es":""},"explanation":{"fr":"","en":"Promised goods or services may include, among others, the sale of goods produced, a service of standing ready to provide updates when they become available, and the granting of licences (IFRS 15, para. 26). Conversely, internal activities that transfer nothing to the customer, such as opening an account in the entity's systems, are not performance obligations (IFRS 15, para. 25); the same applies to the recruitment of the entity's staff.","es":""},"common_error":{"fr":"","en":"Confusing the means used by the entity with the goods or services promised to the customer.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The sale of goods produced by the entity.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Opening a customer account in the entity's IT system.","es":""},"correct":false,"feedback":{"fr":"","en":"No: an internal activity that transfers nothing to the customer.","es":""}},{"id":"C","text":{"fr":"","en":"A service of standing ready to provide software updates when they become available.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The recruitment by the entity of the staff needed to fulfil the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: recruitment is an activity of the entity, with no transfer to the customer.","es":""}},{"id":"E","text":{"fr":"","en":"The granting of a licence.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000078","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000078","tested_point":"QST.IFRS15.000078","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Which of the following sources may create an implied promise to be taken into account in a contract with a customer?","es":""},"explanation":{"fr":"","en":"Implied promises arise from customary business practices, published policies or specific statements of the entity, provided that they create a valid expectation of the customer, at contract inception, that a good or service will be transferred (IFRS 15, para. 24). An internal intention that is not communicated creates no expectation; nor does an offer made to other customers after the contract was entered into.","es":""},"common_error":{"fr":"","en":"Treating an internal intention of the entity as a promise.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An internal intention of management, never communicated to customers.","es":""},"correct":false,"feedback":{"fr":"","en":"No: without communication, no valid expectation is created for the customer.","es":""}},{"id":"B","text":{"fr":"","en":"The entity's customary business practices.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The entity's published policies.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"An offer made to other customers after the contract was entered into.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the expectation is assessed when the contract with this customer is entered into.","es":""}},{"id":"E","text":{"fr":"","en":"A specific statement by the entity creating a valid expectation of the customer when the contract is entered into.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000079","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000079","tested_point":"QST.IFRS15.000079","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §22","IFRS 15 §23"],"exercise":{"prompt":{"fr":"","en":"Which of the following conditions must be met for promised goods or services to be treated as a series that is a single performance obligation?","es":""},"explanation":{"fr":"","en":"A series requires distinct goods or services that are substantially the same and have the same pattern of transfer (IFRS 15, para. 22); the same pattern is established when each item would meet the criteria for an obligation satisfied over time and the same method of measuring progress would apply to each (IFRS 15, para. 23). A single invoice or delivery on the same day are not conditions.","es":""},"common_error":{"fr":"","en":"Confusing the same pattern of transfer with the same delivery date.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The goods or services are distinct and substantially the same.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The goods or services are covered by a single invoice.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the invoicing method is not a condition for a series.","es":""}},{"id":"C","text":{"fr":"","en":"Each item would meet the criteria for an obligation satisfied over time.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The same method of measuring progress would apply to each item.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"All the goods or services are transferred to the customer on the same day.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a series is, on the contrary, transferred over a period; the same pattern does not mean the same date.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000080","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000080","tested_point":"QST.IFRS15.000080","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The Autovia dealership sells new vehicles. For several years, it has offered all its buyers free servicing of the vehicle for 2 years; this practice is known to customers and highlighted by its sales staff, but the order form says nothing about it. How does Autovia analyse the promises in a sales contract?","es":""},"explanation":{"fr":"","en":"The promises in a contract include implied promises arising from customary business practices when they create a valid expectation of the customer, at contract inception, of receiving a good or service (IFRS 15, para. 24). Free servicing, a known and highlighted practice, is an implied promise: it must be taken into account to identify the performance obligations, and then assessed for distinctness.","es":""},"common_error":{"fr":"","en":"Limiting the promises to the order form.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only the vehicle is promised, as the order form is silent on servicing.","es":""},"correct":false,"feedback":{"fr":"","en":"No: promises are not limited to the written terms of the contract.","es":""}},{"id":"B","text":{"fr":"","en":"Servicing is an implied promise arising from a customary practice known to customers; it is taken into account to identify the performance obligations.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Servicing is promised only to customers who expressly request it on delivery of the vehicle, each request being a new and separate contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the valid expectation exists from contract inception, without any particular request.","es":""}},{"id":"D","text":{"fr":"","en":"Servicing is a mere commercial gesture: its cost is recognised as an expense when performed, with no effect on the analysis of the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: an implied promise is part of the promises in the contract and cannot be ignored.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000081","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000081","tested_point":"QST.IFRS15.000081","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §22","IFRS 15 §23"],"exercise":{"prompt":{"fr":"","en":"Cloudélis provides a continuously available data hosting service for 3 years, invoiced quarterly. Each month of service is distinct and substantially the same; according to the case data, each month would be an obligation satisfied over time, measured based on time elapsed. The accountant proposes to identify 12 quarterly performance obligations. What conclusion do you retain?","es":""},"explanation":{"fr":"","en":"The months of service are distinct, substantially the same and have the same pattern of transfer, each being satisfied over time with the same measurement method (IFRS 15, para. 23). They are a series forming a single performance obligation (IFRS 15, para. 22). The quarterly invoicing pattern does not create separate obligations.","es":""},"common_error":{"fr":"","en":"Identifying one obligation per invoicing period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The proposal is correct: each quarter invoiced is a separate performance obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"No: invoicing does not determine the performance obligations.","es":""}},{"id":"B","text":{"fr":"","en":"36 monthly performance obligations must be identified, each month being distinct from the others.","es":""},"correct":false,"feedback":{"fr":"","en":"No: distinct months forming a series are a single obligation.","es":""}},{"id":"C","text":{"fr":"","en":"There is a single performance obligation: a series of distinct monthly services that are the same and have the same pattern of transfer.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"There is a single performance obligation, satisfied at the end of the contract when the customer retrieves its data.","es":""},"correct":false,"feedback":{"fr":"","en":"No: each month of service would be satisfied over time; revenue is not concentrated at the end of the contract.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000082","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.IDENTIFICATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000082","tested_point":"QST.IFRS15.000082","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"promises"},"references":["IFRS 15 §22","IFRS 15 §25"],"exercise":{"prompt":{"fr":"","en":"The operator Connectis signs a 24-month internet access contract. On signing, it creates the customer's account and assigns it an identifier in its internal systems, without transferring anything to the customer. Thereafter, each month of access is distinct and substantially the same; according to the case data, each month would be satisfied over time using the same measurement method. Which performance obligations does Connectis identify?","es":""},"explanation":{"fr":"","en":"Creating the account is an internal activity needed to fulfil the contract that transfers no service to the customer: it is not a performance obligation (IFRS 15, para. 25). The months of access form a series of distinct services that are substantially the same and have the same pattern of transfer: they are a single performance obligation (IFRS 15, para. 22).","es":""},"common_error":{"fr":"","en":"Treating the creation of the account as a performance obligation.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Two obligations: creating the customer's account and internet access over 24 months.","es":""},"correct":false,"feedback":{"fr":"","en":"No: creating the account is an internal activity that transfers nothing to the customer.","es":""}},{"id":"B","text":{"fr":"","en":"A single obligation: the monthly series of internet access; creating the account is not one.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Twenty-five obligations: one per month of access, plus the creation of the customer's account in the operator's systems.","es":""},"correct":false,"feedback":{"fr":"","en":"No: creating the account is not an obligation and the months form a series.","es":""}},{"id":"D","text":{"fr":"","en":"No obligation until the creation of the account is completed.","es":""},"correct":false,"feedback":{"fr":"","en":"No: completing an internal activity is not a condition for identifying the obligations.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000083","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000083","tested_point":"QST.IFRS15.000083","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §27"],"exercise":{"prompt":{"fr":"","en":"It is sufficient for the customer to be able to benefit from a good on its own for that good to be distinct under IFRS 15.","es":""},"explanation":{"fr":"","en":"A good or service is distinct if two criteria are met: the customer can benefit from it on its own or together with other readily available resources, and the promise to transfer it is separately identifiable from other promises in the contract (IFRS 15, para. 27). The first criterion alone is not sufficient.","es":""},"common_error":{"fr":"","en":"Forgetting the separately identifiable criterion.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000084","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000084","tested_point":"QST.IFRS15.000084","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"Structa undertakes to design and build a water treatment plant. It provides the studies, the equipment and the works, and provides a significant service of integrating these items into a single facility requested by the customer. The promises to transfer the studies, the equipment and the works are not separately identifiable.","es":""},"explanation":{"fr":"","en":"The assessment aims to determine whether the promise is to transfer each item individually or a combined item of which they are inputs; providing a significant service of integrating the goods or services into a combined output indicates that they are not separately identifiable (IFRS 15, para. 29). Here, the customer is buying a single facility of which the studies, the equipment and the works are inputs.","es":""},"common_error":{"fr":"","en":"Splitting into separate obligations components integrated into a single facility.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000085","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000085","tested_point":"QST.IFRS15.000085","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §30"],"exercise":{"prompt":{"fr":"","en":"When a promised good is not distinct, the entity combines it with other promised goods or services until it identifies a bundle that is distinct, which may result in a single performance obligation for the whole contract.","es":""},"explanation":{"fr":"","en":"A good or service that is not distinct is combined with other promised goods or services until a distinct bundle is obtained; this may result in a single performance obligation for the whole contract (IFRS 15, para. 30).","es":""},"common_error":{"fr":"","en":"Expensing or ignoring a good that is not distinct.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000086","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000086","tested_point":"QST.IFRS15.000086","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §27"],"exercise":{"prompt":{"fr":"","en":"Which two criteria must be met for a promised good or service to be distinct?","es":""},"explanation":{"fr":"","en":"A good or service is distinct if the customer can benefit from it on its own or together with other readily available resources, and if the promise to transfer it is separately identifiable from other promises in the contract (IFRS 15, para. 27).","es":""},"common_error":{"fr":"","en":"Using invoicing or delivery criteria.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The good has its own price stated in the contract and is delivered on a different date from the other goods in the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: neither the price stated in the contract nor the delivery date is a criterion for being distinct.","es":""}},{"id":"B","text":{"fr":"","en":"The promise is separately identifiable, and the good is covered by a separate invoice sent to the customer on delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the first element is correct, but invoicing is not a criterion; the customer's ability to benefit is missing.","es":""}},{"id":"C","text":{"fr":"","en":"The customer can benefit from it on its own or with readily available resources, and the promise is separately identifiable.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The customer can benefit from it on its own, and the entity earns a positive margin on that good.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the entity's margin has no bearing on whether the good is distinct.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000087","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000087","tested_point":"QST.IFRS15.000087","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"What is the objective of assessing whether a promise to transfer a good or service is separately identifiable?","es":""},"explanation":{"fr":"","en":"The objective is to determine whether, in the context of the contract, the promise is to transfer each good or service individually or a combined item of which those goods or services are inputs (IFRS 15, para. 29).","es":""},"common_error":{"fr":"","en":"Confusing the separately identifiable assessment with pricing or delivery questions.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To determine whether the entity regularly sells each of the goods or services separately to other customers, under conditions comparable to those of the contract being analysed.","es":""},"correct":false,"feedback":{"fr":"","en":"No: this is not the objective set for the separately identifiable assessment, which concerns the nature of the promise in the contract.","es":""}},{"id":"B","text":{"fr":"","en":"To determine whether the goods or services are delivered at the same time and at the same site.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the timing or place of delivery does not answer the question set by the standard.","es":""}},{"id":"C","text":{"fr":"","en":"To determine whether the promise is to transfer each good or service individually or a combined item of which they are inputs.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"To determine whether the price of each good or service can be reliably estimated.","es":""},"correct":false,"feedback":{"fr":"","en":"No: estimating prices relates to allocating the transaction price, not to whether a good is distinct.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000088","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000088","tested_point":"QST.IFRS15.000088","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"Which of the following facts is not among the indicators, cited by IFRS 15, that promises are not separately identifiable?","es":""},"explanation":{"fr":"","en":"The indicators cited are: a significant service of integrating the goods or services into a combined output; significant modification or customisation of one item by another; high interdependence or interrelation, each good or service being significantly affected by the others (IFRS 15, para. 29). Different delivery dates are not among these indicators.","es":""},"common_error":{"fr":"","en":"Believing that staggered deliveries are enough to conclude on distinctness.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity provides a significant service of integrating the goods or services into a combined output.","es":""},"correct":false,"feedback":{"fr":"","en":"No: this is one of the indicators cited.","es":""}},{"id":"B","text":{"fr":"","en":"One of the goods or services significantly modifies or customises another good or service in the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: this is one of the indicators cited.","es":""}},{"id":"C","text":{"fr":"","en":"The goods or services are highly interdependent, each being significantly affected by the others.","es":""},"correct":false,"feedback":{"fr":"","en":"No: this is one of the indicators cited.","es":""}},{"id":"D","text":{"fr":"","en":"The goods or services are delivered to the customer on different dates.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000089","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000089","tested_point":"QST.IFRS15.000089","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §27","IFRS 15 §30"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about distinct goods or services are correct?","es":""},"explanation":{"fr":"","en":"The two criteria for being distinct must both be met, and the second is assessed in the context of the contract (IFRS 15, para. 27). A good or service that is not distinct is neither ignored nor expensed: it is combined with other promised goods or services until a distinct bundle is formed (IFRS 15, para. 30). A good delivered with others under the same contract may well be distinct.","es":""},"common_error":{"fr":"","en":"Believing that a contract covering several goods contains only one obligation.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A good that is not distinct is recognised directly as an expense.","es":""},"correct":false,"feedback":{"fr":"","en":"False: it is combined with other promised goods or services.","es":""}},{"id":"B","text":{"fr":"","en":"The two criteria for being distinct must both be met.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Whether a promise is separately identifiable is assessed in the context of the contract.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A good delivered under the same contract as other goods is never distinct.","es":""},"correct":false,"feedback":{"fr":"","en":"False: a contract may contain several distinct goods.","es":""}},{"id":"E","text":{"fr":"","en":"A good that is not distinct is combined with other promised goods or services until a distinct bundle is formed.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000090","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000090","tested_point":"QST.IFRS15.000090","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §29","IFRS 15 §27"],"exercise":{"prompt":{"fr":"","en":"Médisys undertakes to deliver and commission a complete imaging room: scanner, control software, technical furniture and cabling. The customer is buying a functioning room meeting a single set of specifications. Which of the following facts indicate that the promises are not separately identifiable?","es":""},"explanation":{"fr":"","en":"Indicators that promises are not separately identifiable include: a significant service of integration into a combined output, significant customisation of one item by another and high interdependence of the items (IFRS 15, para. 29). The possibility of buying the furniture elsewhere relates to the first criterion for being distinct, the customer's ability to benefit from the good, and not to whether the promise is separately identifiable (IFRS 15, para. 27); delivery in the same week is irrelevant.","es":""},"common_error":{"fr":"","en":"Splitting into separate obligations items that a significant integration service turns into a whole.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Médisys takes responsibility for integrating all the items to deliver the functioning room requested.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The control software is significantly customised to work with this specific scanner.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The technical furniture could be bought from other suppliers.","es":""},"correct":false,"feedback":{"fr":"","en":"False: this fact concerns the customer's ability to benefit from the good, not whether the promise is separately identifiable.","es":""}},{"id":"D","text":{"fr":"","en":"All the items are delivered in the same week.","es":""},"correct":false,"feedback":{"fr":"","en":"False: the delivery schedule is not an indicator.","es":""}},{"id":"E","text":{"fr":"","en":"The scanner and the software are highly interdependent: each is significantly affected by the other in order to function.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000091","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000091","tested_point":"QST.IFRS15.000091","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §27","IFRS 15 §29"],"exercise":{"prompt":{"fr":"","en":"Pressor sells a standard packaging machine, which works without adaptation, together with its installation. The installation does not modify the machine, is simple and could be performed by other providers on the market. The customer can operate the machine as soon as it is installed. How many performance obligations does Pressor identify?","es":""},"explanation":{"fr":"","en":"The customer can benefit from the machine and from the installation, on their own or with readily available resources, and each promise is separately identifiable (IFRS 15, para. 27): the installation neither modifies nor customises the machine, and no significant integration service is provided (IFRS 15, para. 29). The facts of the case therefore lead to two performance obligations; a single price or a single contract is not enough to merge them.","es":""},"common_error":{"fr":"","en":"Merging promises merely because they are in the same contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Two performance obligations: the machine and the installation, each being distinct.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A single obligation, because the machine and the installation are sold under the same contract and for a single overall price.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a single contract or price does not make the promises non-distinct.","es":""}},{"id":"C","text":{"fr":"","en":"A single obligation, because the installation integrates the machine into a combined output that the customer could not obtain otherwise.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the simple installation does not modify the machine and is not a significant integration service.","es":""}},{"id":"D","text":{"fr":"","en":"A single obligation for the machine, the installation being an internal activity that transfers nothing to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the installation is a service provided to the customer.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000092","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000092","tested_point":"QST.IFRS15.000092","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §29","IFRS 15 §30"],"exercise":{"prompt":{"fr":"","en":"Bâtisol is building a clinic for a customer. The contract covers design, supply of materials, structural works and finishing works; Bâtisol is responsible for the whole and integrates these items to deliver the clinic specified in the contract. The management controller proposes to identify one performance obligation per item. What conclusion do you retain?","es":""},"explanation":{"fr":"","en":"Bâtisol provides a significant service of integrating the goods and services into a combined output, the clinic: the promises are not separately identifiable (IFRS 15, para. 29). The items that are not distinct are combined until a distinct bundle is formed, which here results in a single performance obligation for the contract (IFRS 15, para. 30).","es":""},"common_error":{"fr":"","en":"Splitting into separate obligations components that a significant integration service turns into a whole.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The proposal is correct: each item could be bought separately and is therefore a performance obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the significant integration service makes the promises not separately identifiable in this contract.","es":""}},{"id":"B","text":{"fr":"","en":"Two performance obligations must be identified, design on the one hand and construction on the other, as they are performed by different teams.","es":""},"correct":false,"feedback":{"fr":"","en":"No: internal organisation is not relevant; design is also an input to the clinic.","es":""}},{"id":"C","text":{"fr":"","en":"The materials are a separate obligation, as they are delivered before the works; the rest forms a second obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the materials are inputs to the combined output, whatever their delivery date.","es":""}},{"id":"D","text":{"fr":"","en":"A single performance obligation: the clinic, of which design, materials and works are inputs.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000093","standard_id":"IFRS15","concept_ids":["IFRS15.PERFORMANCE_OBLIGATIONS.DISTINCT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000093","tested_point":"QST.IFRS15.000093","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000003","section_id":"distinct-two-criteria"},"references":["IFRS 15 §29","IFRS 15 §30"],"exercise":{"prompt":{"fr":"","en":"Softéam provides a distributor with existing warehouse management software and undertakes to customise it significantly: adding functionality and redesigning the interfaces so that it controls the customer's own automated equipment. Without this customisation, the software does not meet the use provided for in the contract. The contract also provides for acceptance tests performed by Softéam. What conclusion do you retain?","es":""},"explanation":{"fr":"","en":"The customisation significantly modifies the software: the software and the customisation are inputs to a combined item, the system requested by the customer, and are not separately identifiable (IFRS 15, para. 29). They are combined into a single performance obligation (IFRS 15, para. 30). The acceptance tests, which serve to verify this combined system, form part of the same bundle based on the facts described; this conclusion is a matter of judgement and must be documented.","es":""},"common_error":{"fr":"","en":"Concluding that software is distinct because it works on its own, without considering the context of the contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Two performance obligations: the software, which the customer could use on its own, and the customisation.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the significant customisation makes the software not separately identifiable in this contract.","es":""}},{"id":"B","text":{"fr":"","en":"A single performance obligation, the customised software, of which the existing software and the customisation are inputs.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"One obligation for the software; the customisation is merely a start-up activity that transfers nothing to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the customisation transfers a service to the customer; it is not merely an internal activity.","es":""}},{"id":"D","text":{"fr":"","en":"Three performance obligations, one for the software, one for the customisation and one for the acceptance tests, each being invoiced separately.","es":""},"correct":false,"feedback":{"fr":"","en":"No: separate invoicing does not make distinct promises that form a combined item.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000096","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000096","tested_point":"QST.IFRS15.000096","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"Value added tax invoiced to the customer and collected on behalf of the State is part of the transaction price.","es":""},"explanation":{"fr":"","en":"The transaction price is the consideration to which the entity expects to be entitled in exchange for the promised goods or services, excluding amounts collected on behalf of third parties, such as some sales taxes (IFRS 15, para. 47). VAT collected for the State is excluded.","es":""},"common_error":{"fr":"","en":"Including in the transaction price a tax collected on behalf of the State.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000097","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000097","tested_point":"QST.IFRS15.000097","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §49"],"exercise":{"prompt":{"fr":"","en":"To determine the transaction price, the entity assumes that the goods or services will be transferred as promised under the existing contract and that the contract will not be cancelled, renewed or modified.","es":""},"explanation":{"fr":"","en":"Determining the transaction price is based on the assumption that the existing contract will be performed as promised, without cancellation, renewal or modification (IFRS 15, para. 49).","es":""},"common_error":{"fr":"","en":"Including in the transaction price a renewal considered likely.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000098","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000098","tested_point":"QST.IFRS15.000098","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"Mobilis usually invoices its customers at the contract price but, under a practice known to all, systematically grants a year-end discount. To determine the transaction price, Mobilis must consider only the written terms of the contract, excluding its business practices.","es":""},"explanation":{"fr":"","en":"To determine the transaction price, the entity considers the terms of the contract and its customary business practices; consideration may be fixed, variable or both (IFRS 15, para. 47). The year-end discount practice must therefore be taken into account, and the expected discount makes part of the consideration variable.","es":""},"common_error":{"fr":"","en":"Using the contract price without taking into account the discounts usually granted.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000099","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000099","tested_point":"QST.IFRS15.000099","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"What is the transaction price under IFRS 15?","es":""},"explanation":{"fr":"","en":"The transaction price is the consideration to which the entity expects to be entitled in exchange for the goods or services promised to the customer, excluding amounts collected on behalf of third parties (IFRS 15, para. 47).","es":""},"common_error":{"fr":"","en":"Confusing the transaction price with the amount invoiced including taxes.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The published price of the goods or services, before any discount granted to the customer, as shown in the general terms of sale.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the transaction price reflects the consideration expected, discounts included, not a reference price.","es":""}},{"id":"B","text":{"fr":"","en":"The consideration to which the entity expects to be entitled in exchange for the promised goods or services, excluding amounts collected on behalf of third parties.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The total amount invoiced to the customer, including taxes collected for the State.","es":""},"correct":false,"feedback":{"fr":"","en":"No: amounts collected on behalf of third parties are excluded.","es":""}},{"id":"D","text":{"fr":"","en":"The amount already collected from the customer at the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the transaction price does not depend on cash collected at a given date.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000100","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000100","tested_point":"QST.IFRS15.000100","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §49"],"exercise":{"prompt":{"fr":"","en":"Datalys enters into a 3-year services contract for EUR 90,000 per year. Based on its history, it considers it very likely that the customer will renew the contract for 2 additional years at the same price. What transaction price does it use at contract inception?","es":""},"explanation":{"fr":"","en":"The entity assumes that the existing contract will be performed as promised and will not be cancelled, renewed or modified (IFRS 15, para. 49). The transaction price therefore covers the 3 years of the existing contract: 3 × 90,000 = EUR 270,000. The likely renewal is not taken into account.","es":""},"common_error":{"fr":"","en":"Including in the transaction price a renewal considered likely.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"EUR 450,000, because renewal for 2 additional years is very likely based on the entity's history.","es":""},"correct":false,"feedback":{"fr":"","en":"No: renewal, even if likely, is not taken into account in determining the transaction price.","es":""}},{"id":"B","text":{"fr":"","en":"EUR 360,000, including only one year of renewal for prudence, given the uncertainty.","es":""},"correct":false,"feedback":{"fr":"","en":"No: no year of renewal is included, whatever the probability.","es":""}},{"id":"C","text":{"fr":"","en":"EUR 90,000, corresponding to the first year invoiced.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the transaction price covers the whole term of the existing contract, not only the first invoice.","es":""}},{"id":"D","text":{"fr":"","en":"EUR 270,000, corresponding to the 3 years of the existing contract.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000101","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000101","tested_point":"QST.IFRS15.000101","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §46"],"exercise":{"prompt":{"fr":"","en":"When a performance obligation is satisfied, what amount does the entity recognise as revenue?","es":""},"explanation":{"fr":"","en":"When, or as, a performance obligation is satisfied, the entity recognises as revenue the amount of the transaction price allocated to that obligation; that price excludes estimates of variable consideration that are constrained (IFRS 15, para. 46).","es":""},"common_error":{"fr":"","en":"Recognising as revenue variable consideration that is constrained.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The amount invoiced to the customer for that obligation, as shown on the invoice issued on delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"No: revenue is based on the allocated transaction price, not on the amount invoiced.","es":""}},{"id":"B","text":{"fr":"","en":"The amount of the transaction price allocated to that obligation, excluding estimates of variable consideration that are constrained.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The amount of the transaction price allocated to that obligation, including all the estimated variable consideration, constrained or not.","es":""},"correct":false,"feedback":{"fr":"","en":"No: constrained estimates are excluded from the transaction price.","es":""}},{"id":"D","text":{"fr":"","en":"The amount collected from the customer on the date the obligation is satisfied.","es":""},"correct":false,"feedback":{"fr":"","en":"No: revenue does not depend on cash collection.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000102","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000102","tested_point":"QST.IFRS15.000102","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §48","IFRS 15 §49"],"exercise":{"prompt":{"fr":"","en":"Which of the following must the entity take into account to determine the transaction price?","es":""},"explanation":{"fr":"","en":"The nature, timing and amount of consideration affect the transaction price: the entity considers variable consideration and its constraint, the existence of a significant financing component, non-cash consideration and consideration payable to a customer (IFRS 15, para. 48). The cost of sales is not one of them, and a likely renewal is not taken into account since the contract is assumed to be neither renewed nor modified (IFRS 15, para. 49).","es":""},"common_error":{"fr":"","en":"Forgetting consideration payable to a customer when computing the transaction price.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The cost of the goods sold by the entity.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the entity's cost is not part of the consideration promised by the customer.","es":""}},{"id":"B","text":{"fr":"","en":"Variable consideration and its constraint.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The existence of a significant financing component.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The revenue expected from a likely renewal of the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the contract is assumed to be neither renewed nor modified.","es":""}},{"id":"E","text":{"fr":"","en":"Non-cash consideration.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"Consideration payable to a customer.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000103","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000103","tested_point":"QST.IFRS15.000103","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"Hôtelia organises a residential seminar for a corporate customer. Its invoice includes: accommodation, room hire, VAT collected for the State, the tourist tax collected on behalf of the municipality and the meals served by Hôtelia. Which of these amounts are excluded from Hôtelia's transaction price?","es":""},"explanation":{"fr":"","en":"The transaction price excludes amounts collected on behalf of third parties, such as some sales taxes (IFRS 15, para. 47). VAT collected for the State and the tourist tax collected for the municipality are collected on behalf of third parties; accommodation, room hire and meals remunerate Hôtelia's services and are part of the transaction price.","es":""},"common_error":{"fr":"","en":"Including in the transaction price a tax collected on behalf of a public authority.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The price of accommodation.","es":""},"correct":false,"feedback":{"fr":"","en":"No: it remunerates a service of Hôtelia.","es":""}},{"id":"B","text":{"fr":"","en":"VAT collected for the State.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The price of room hire.","es":""},"correct":false,"feedback":{"fr":"","en":"No: it remunerates a service of Hôtelia.","es":""}},{"id":"D","text":{"fr":"","en":"The tourist tax collected on behalf of the municipality.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The price of the meals served by Hôtelia.","es":""},"correct":false,"feedback":{"fr":"","en":"No: it remunerates a service of Hôtelia.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000104","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000203","tested_point":"VG.IFRS15.000203","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"Ébénis delivers furniture to a hotel. Its invoice amounts to EUR {amount_incl_tax} including taxes, of which VAT at {vat_rate}% collected on behalf of the State. No other consideration is provided for. Compute the transaction price.","es":""},"explanation":{"fr":"","en":"The transaction price excludes amounts collected on behalf of third parties, such as VAT (IFRS 15, para. 47). Amount excluding tax: 60,000 / 1.20 = EUR 50,000; the VAT of EUR 10,000 is collected for the State and is not revenue of Ébénis.","es":""},"common_error":{"fr":"","en":"Using the amount including taxes of EUR 60,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"amount_incl_tax","value":"60000","unit":"EUR"},{"id":"vat_rate","value":"20","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Amount invoiced including taxes","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"VAT rate","es":""},"value":"20","unit":"PERCENT"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":50000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a / (1 + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount invoiced including taxes","es":""},"value":60000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"VAT rate","es":""},"value":20,"unit":"PERCENT"}],"result":50000,"unit":"EUR"}],"rationale":{"fr":"","en":"The transaction price excludes amounts collected on behalf of third parties, such as VAT (IFRS 15, para. 47).","es":""},"references":["REF.IFRS15.47"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000105","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000203","tested_point":"VG.IFRS15.000203","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"The Valrose estate hosts the annual conference of a trade federation and sends it a total invoice of EUR {total_billed}. This total includes VAT of EUR {vat_amount} collected for the State and a tourist tax of EUR {tourist_tax} collected on behalf of the municipality; the balance remunerates the accommodation and catering provided by Valrose. Compute Valrose's transaction price.","es":""},"explanation":{"fr":"","en":"Amounts collected on behalf of third parties are excluded from the transaction price (IFRS 15, para. 47). VAT, collected for the State, and the tourist tax, collected for the municipality, are such amounts: 20,400 − 1,800 − 600 = EUR 18,000.","es":""},"common_error":{"fr":"","en":"Removing only VAT and keeping the tourist tax in the transaction price.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_billed","value":"20400","unit":"EUR"},{"id":"vat_amount","value":"1800","unit":"EUR"},{"id":"tourist_tax","value":"600","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total amount invoiced","es":""},"value":"20400","unit":"EUR"},{"label":{"fr":"","en":"VAT collected for the State","es":""},"value":"1800","unit":"EUR"},{"label":{"fr":"","en":"Tourist tax collected for the municipality","es":""},"value":"600","unit":"EUR"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":18000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a - b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total amount invoiced","es":""},"value":20400,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"VAT collected for the State","es":""},"value":1800,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Tourist tax collected for the municipality","es":""},"value":600,"unit":"EUR"}],"result":18000,"unit":"EUR"}],"rationale":{"fr":"","en":"Amounts collected on behalf of third parties are excluded from the transaction price (IFRS 15, para. 47).","es":""},"references":["REF.IFRS15.47"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000106","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION","IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000204","tested_point":"VG.IFRS15.000204","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §48","IFRS 15 §53","IFRS 15 §56","IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"Ingénova designs a production line for a customer for a fixed price of EUR {fixed_fee}. A bonus of EUR {bonus} will be due if the line is delivered before an agreed date; only two outcomes are possible. Ingénova estimates the bonus using the most likely amount, which is earning the bonus, and concludes, based on its judgement, that it is highly probable that including it will not result in a significant reversal of cumulative revenue. The contract also provides that Ingénova pays the customer EUR {payment_to_customer} as a contribution to fitting out its premises, without receiving any distinct good or service in exchange. Compute the transaction price.","es":""},"explanation":{"fr":"","en":"The transaction price takes into account variable consideration and consideration payable to a customer (IFRS 15, para. 48). With only two outcomes, the most likely amount may be the method that best predicts the bonus (IFRS 15, para. 53); according to Ingénova's judgement, the constraint does not reduce that amount (IFRS 15, para. 56). The amount paid to the customer without a distinct good or service in exchange reduces the transaction price (IFRS 15, para. 70). Price: 400,000 + 50,000 − 20,000 = EUR 430,000. The choice of method and the assessment of the constraint are case data resulting from the entity's judgement.","es":""},"common_error":{"fr":"","en":"Recognising the contribution paid to the customer as a selling expense instead of reducing the transaction price.","es":""},"format":"CALCULATION","placeholders":[{"id":"fixed_fee","value":"400000","unit":"EUR"},{"id":"bonus","value":"50000","unit":"EUR"},{"id":"payment_to_customer","value":"20000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Fixed contract price","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Early delivery bonus","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Contribution paid to the customer","es":""},"value":"20000","unit":"EUR"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":430000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Fixed contract price","es":""},"value":400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Early delivery bonus","es":""},"value":50000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Contribution paid to the customer","es":""},"value":20000,"unit":"EUR"}],"result":430000,"unit":"EUR"}],"references":["REF.IFRS15.48","REF.IFRS15.53","REF.IFRS15.56","REF.IFRS15.70"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000107","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION","IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000204","tested_point":"VG.IFRS15.000204","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §48","IFRS 15 §66","IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"Brasselin sells a batch of professional ovens to a restaurant chain. In exchange, the chain pays EUR {cash_price} and transfers to Brasselin a commercial vehicle with a fair value of EUR {vehicle_fair_value}. Under the same contract, Brasselin grants the chain a credit note of EUR {credit_granted} that can be applied against its next invoices, without receiving any distinct good or service in exchange. Compute the transaction price.","es":""},"explanation":{"fr":"","en":"The transaction price takes into account non-cash consideration and consideration payable to a customer (IFRS 15, para. 48). The vehicle received is measured at fair value (IFRS 15, para. 66). The credit note, a credit that can be applied against amounts owed and that does not pay for any distinct good or service, reduces the transaction price (IFRS 15, para. 70). Price: 180,000 + 25,000 − 5,000 = EUR 200,000.","es":""},"common_error":{"fr":"","en":"Ignoring the vehicle received as consideration.","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_price","value":"180000","unit":"EUR"},{"id":"vehicle_fair_value","value":"25000","unit":"EUR"},{"id":"credit_granted","value":"5000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Consideration paid in cash","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Fair value of the vehicle received","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Credit note granted to the customer","es":""},"value":"5000","unit":"EUR"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":200000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Consideration paid in cash","es":""},"value":180000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fair value of the vehicle received","es":""},"value":25000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Credit note granted to the customer","es":""},"value":5000,"unit":"EUR"}],"result":200000,"unit":"EUR"}],"rationale":{"fr":"","en":"The transaction price takes into account non-cash consideration and consideration payable to a customer (IFRS 15, para. 48).","es":""},"references":["REF.IFRS15.48","REF.IFRS15.66","REF.IFRS15.70"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000108","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.DETERMINATION","IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","context":"V1_QST.IFRS15.000108","tested_point":"QST.IFRS15.000108","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §48","IFRS 15 §60","IFRS 15 §61","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"Vitralis delivers glazing to a property developer, which obtains control on delivery. The developer will pay EUR {amount_due} in {payment_delay} years. Vitralis concludes, based on its judgement, that this payment schedule provides the customer with a significant benefit of financing; the rate that would be used in a separate financing transaction between the parties is {financing_rate}% per year (case data). Compute the transaction price, i.e. the amount the developer would have paid in cash on delivery.","es":""},"explanation":{"fr":"","en":"A significant financing component is one of the items to consider when determining the transaction price (IFRS 15, para. 48). The entity adjusts the consideration for the effects of the time value of money (IFRS 15, para. 60) in order to recognise revenue at the cash selling price (IFRS 15, para. 61), using the rate of a separate financing transaction with the customer (IFRS 15, para. 64). Price: 121,000 / 1.10² = 121,000 / 1.21 = EUR 100,000; the difference of EUR 21,000 is a financing effect presented separately from revenue (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Using the nominal amount of EUR 121,000 as the transaction price.","es":""},"format":"CALCULATION","placeholders":[{"id":"amount_due","value":"121000","unit":"EUR"},{"id":"payment_delay","value":"2","unit":"YEARS"},{"id":"financing_rate","value":"10","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Amount payable by the developer","es":""},"value":"121000","unit":"EUR"},{"label":{"fr":"","en":"Payment period after delivery","es":""},"value":"2","unit":"YEARS"},{"label":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":"10","unit":"PERCENT"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price (cash selling price)","es":""},"answer":100000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price (cash selling price)","es":""},"expression":"a / (1 + b)^2","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount payable by the developer","es":""},"value":121000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction","es":""},"value":10,"unit":"PERCENT"}],"result":100000,"unit":"EUR"}],"references":["REF.IFRS15.48","REF.IFRS15.60","REF.IFRS15.61","REF.IFRS15.64","REF.IFRS15.65"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000109","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000109","tested_point":"QST.IFRS15.000109","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §50","IFRS 15 §51"],"exercise":{"prompt":{"fr":"","en":"Lavergne sells a packaging line for 400,000. The contract provides for a penalty of 2,000 per week of late delivery, deducted from the price. This clause makes the promised consideration variable.","es":""},"explanation":{"fr":"","en":"A penalty that may reduce the amount payable by the customer is one of the sources of variability in consideration (IFRS 15, para. 51). Lavergne must therefore estimate the amount to which it expects to be entitled, rather than mechanically using 400,000 (IFRS 15, para. 50).","es":""},"common_error":{"fr":"","en":"Thinking that only a price increase, not a reduction, creates variable consideration.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000110","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000110","tested_point":"QST.IFRS15.000110","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §51","IFRS 15 §50"],"exercise":{"prompt":{"fr":"","en":"Brennac is negotiating four maintenance contracts. Which one includes variable consideration?","es":""},"explanation":{"fr":"","en":"Consideration is variable when the entity's entitlement depends on the occurrence or non-occurrence of a future event, for example a fixed bonus contingent on reaching a milestone (IFRS 15, para. 51). A fixed price, even paid in instalments or in advance, is not variable.","es":""},"common_error":{"fr":"","en":"Confusing the payment schedule with variability of the amount.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A lump sum of 60,000 payable in three equal instalments.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment in instalments changes the timing, not the amount: the consideration remains fixed.","es":""}},{"id":"B","text":{"fr":"","en":"A lump sum of 50,000 and a bonus of 8,000 if machine availability exceeds 98%.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A lump sum of 45,000 with 30% paid on signature.","es":""},"correct":false,"feedback":{"fr":"","en":"An advance payment concerns the timing of payment, not uncertainty about the amount.","es":""}},{"id":"D","text":{"fr":"","en":"A lump sum of 40,000 and fixed travel costs of 1,500 per quarter, invoiced in addition under an agreed scale.","es":""},"correct":false,"feedback":{"fr":"","en":"Fixed costs known from the outset create no variability.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000111","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000111","tested_point":"QST.IFRS15.000111","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §51"],"exercise":{"prompt":{"fr":"","en":"Valmigère, a pump manufacturer, is reviewing the clauses of its customer contracts. Which of them make the consideration variable?","es":""},"explanation":{"fr":"","en":"Consideration can vary because of discounts, rebates, refunds, credits, incentives, performance bonuses, penalties or similar items; it is also variable when the entity's entitlement depends on a future event, such as a sale with a right of return (IFRS 15, para. 51). A fixed price, even payable in two parts, or a subscription of constant amount is not variable.","es":""},"common_error":{"fr":"","en":"Forgetting that a right of return creates variable consideration.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A fixed price of 80,000 settled in two payments.","es":""},"correct":false,"feedback":{"fr":"","en":"Splitting the payment does not make the amount uncertain.","es":""}},{"id":"B","text":{"fr":"","en":"A rebate of 3% on all orders of the year if annual volume exceeds 5,000 pumps.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A bonus of 10,000 if installation is completed before an agreed date.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A right to return unsold pumps within 60 days for a refund.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"A remote monitoring subscription of 1,200 per year, with no review clause.","es":""},"correct":false,"feedback":{"fr":"","en":"A fixed annual amount with no review clause is not variable.","es":""}},{"id":"F","text":{"fr":"","en":"A penalty of 500 per day of downtime attributable to Valmigère.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000112","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000112","tested_point":"QST.IFRS15.000112","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §53","IFRS 15 §50","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"Brissac will receive a bonus of 30,000 if it delivers a prototype before 30 September 20X1, and nothing otherwise. It has no similar contracts. Which estimation method is, at first sight, the most appropriate to predict the bonus amount to which it will be entitled?","es":""},"explanation":{"fr":"","en":"The entity uses the method that better predicts the amount to which it will be entitled. The most likely amount suits situations with only two possible outcomes, such as a bonus achieved or not; the expected value rather suits a large number of similar contracts (IFRS 15, para. 53). The final choice remains Brissac's judgement.","es":""},"common_error":{"fr":"","en":"Applying the expected value to a binary outcome.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The expected value, required by the standard for any bonus.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not require the expected value; for a binary outcome it often predicts the actual amount poorly.","es":""}},{"id":"B","text":{"fr":"","en":"The most likely amount.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No estimate: the bonus is taken into account only when collected.","es":""},"correct":false,"feedback":{"fr":"","en":"Variable consideration must be estimated from the outset, subject to the constraint.","es":""}},{"id":"D","text":{"fr":"","en":"The arithmetic mean of 0 and 30,000, i.e. 15,000.","es":""},"correct":false,"feedback":{"fr":"","en":"An unweighted mean corresponds to neither of the two methods provided.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000113","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000301","tested_point":"VG.IFRS15.000301","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §53","IFRS 15 §50"],"exercise":{"prompt":{"fr":"","en":"Delmas enters into hundreds of similar furniture supply contracts each year, with year-end rebates. For a typical contract, its historical data give the following outcomes: {amount_high} with a probability of {prob_high}%, {amount_mid} with a probability of {prob_mid}% and {amount_low} with a probability of {prob_low}%. Delmas has concluded that the expected value is the most predictive method and that the constraint does not reduce the estimate (case data). Compute the estimated consideration.","es":""},"explanation":{"fr":"","en":"The expected value is the sum of the possible amounts weighted by their probabilities, a method suited to a large number of similar contracts (IFRS 15, para. 53): 100,000 × 60% + 90,000 × 30% + 80,000 × 10% = 60,000 + 27,000 + 8,000 = 95,000. The choice of method and the probabilities are case data and judgements, not numerical requirements of the standard.","es":""},"common_error":{"fr":"","en":"Using the most likely outcome (100,000) although the expected value was judged more predictive.","es":""},"format":"CALCULATION","placeholders":[{"id":"amount_high","value":"100000","unit":"EUR"},{"id":"prob_high","value":"60","unit":"PERCENT"},{"id":"amount_mid","value":"90000","unit":"EUR"},{"id":"prob_mid","value":"30","unit":"PERCENT"},{"id":"amount_low","value":"80000","unit":"EUR"},{"id":"prob_low","value":"10","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Amount of the high outcome","es":""},"value":"100000","unit":"EUR"},{"label":{"fr":"","en":"Probability of the high outcome","es":""},"value":"60","unit":"PERCENT"},{"label":{"fr":"","en":"Amount of the middle outcome","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Probability of the middle outcome","es":""},"value":"30","unit":"PERCENT"},{"label":{"fr":"","en":"Amount of the low outcome","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Probability of the low outcome","es":""},"value":"10","unit":"PERCENT"}],"steps":[{"id":"EXPECTED_VALUE","label":{"fr":"","en":"Consideration estimated using the expected value","es":""},"answer":95000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"EXPECTED_VALUE","meaning":{"fr":"","en":"Consideration estimated using the expected value","es":""},"expression":"a * b + c * d + e * f","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount of the high outcome","es":""},"value":100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Probability of the high outcome","es":""},"value":60,"unit":"PERCENT"},{"symbol":"c","meaning":{"fr":"","en":"Amount of the middle outcome","es":""},"value":90000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Probability of the middle outcome","es":""},"value":30,"unit":"PERCENT"},{"symbol":"e","meaning":{"fr":"","en":"Amount of the low outcome","es":""},"value":80000,"unit":"EUR"},{"symbol":"f","meaning":{"fr":"","en":"Probability of the low outcome","es":""},"value":10,"unit":"PERCENT"}],"result":95000,"unit":"EUR","rationale":{"fr":"","en":"The expected value is the sum of the possible amounts weighted by their probabilities, a method suited to a large number of similar contracts (IFRS 15, para. 53): 100,000 × 60% + 90,000 × 30% + 80,000 × 10% = 60,000 + 27,000 + 8,000 = 95,000.","es":""}}],"references":["REF.IFRS15.53"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000114","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000301","tested_point":"VG.IFRS15.000301","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §53","IFRS 15 §54"],"exercise":{"prompt":{"fr":"","en":"The carrier Ferrand invoices its logistics customers using a sliding scale linked to annual tonnages. Based on its portfolio of comparable contracts, it uses three scenarios for the contract signed with Hélix: {outcome_1} (weighting {weight_1}%), {outcome_2} (weighting {weight_2}%) and {outcome_3} (weighting {weight_3}%). Ferrand estimates the consideration using the expected value and has concluded that the constraint does not apply (given judgements). What amount does it use?","es":""},"explanation":{"fr":"","en":"Using the expected value (IFRS 15, para. 53): 240,000 × 20% + 260,000 × 50% + 280,000 × 30% = 48,000 + 130,000 + 84,000 = 262,000. The scenarios rest on all reasonably available information, and the method chosen must be applied consistently throughout the contract (IFRS 15, para. 54).","es":""},"common_error":{"fr":"","en":"Using the central scenario of 260,000 without weighting.","es":""},"format":"CALCULATION","placeholders":[{"id":"outcome_1","value":"240000","unit":"EUR"},{"id":"weight_1","value":"20","unit":"PERCENT"},{"id":"outcome_2","value":"260000","unit":"EUR"},{"id":"weight_2","value":"50","unit":"PERCENT"},{"id":"outcome_3","value":"280000","unit":"EUR"},{"id":"weight_3","value":"30","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Consideration in the first scenario","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Weighting of the first scenario","es":""},"value":"20","unit":"PERCENT"},{"label":{"fr":"","en":"Consideration in the second scenario","es":""},"value":"260000","unit":"EUR"},{"label":{"fr":"","en":"Weighting of the second scenario","es":""},"value":"50","unit":"PERCENT"},{"label":{"fr":"","en":"Consideration in the third scenario","es":""},"value":"280000","unit":"EUR"},{"label":{"fr":"","en":"Weighting of the third scenario","es":""},"value":"30","unit":"PERCENT"}],"steps":[{"id":"ESTIMATED_CONSIDERATION","label":{"fr":"","en":"Estimated consideration","es":""},"answer":262000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ESTIMATED_CONSIDERATION","meaning":{"fr":"","en":"Estimated consideration","es":""},"expression":"a * b + c * d + e * f","variables":[{"symbol":"a","meaning":{"fr":"","en":"Consideration in the first scenario","es":""},"value":240000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Weighting of the first scenario","es":""},"value":20,"unit":"PERCENT"},{"symbol":"c","meaning":{"fr":"","en":"Consideration in the second scenario","es":""},"value":260000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Weighting of the second scenario","es":""},"value":50,"unit":"PERCENT"},{"symbol":"e","meaning":{"fr":"","en":"Consideration in the third scenario","es":""},"value":280000,"unit":"EUR"},{"symbol":"f","meaning":{"fr":"","en":"Weighting of the third scenario","es":""},"value":30,"unit":"PERCENT"}],"result":262000,"unit":"EUR"}],"rationale":{"fr":"","en":"The scenarios rest on all reasonably available information, and the method chosen must be applied consistently throughout the contract (IFRS 15, para. 54).","es":""},"references":["REF.IFRS15.53","REF.IFRS15.54"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000115","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000302","tested_point":"VG.IFRS15.000302","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §53","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"Granval is building a warehouse for a fixed price of {fixed_price}. It will receive a bonus of {bonus} if the building is accepted before 30 June 20X2, and no bonus otherwise. Granval assesses the probability of meeting the deadline at {probability}%, uses the most likely amount and has concluded that it is highly probable that including the bonus will not result in a significant reversal of cumulative revenue (given judgements). Compute the transaction price.","es":""},"explanation":{"fr":"","en":"With two possible outcomes (bonus achieved or not), the most likely amount is the method used here (IFRS 15, para. 53): the most likely outcome is that the bonus is earned, i.e. 50,000. As the constraint is judged to be met (IFRS 15, para. 56), the transaction price is 500,000 + 50,000 = 550,000. The expected value (500,000 + 80% × 50,000 = 540,000) would give an amount that matches none of the possible outcomes.","es":""},"common_error":{"fr":"","en":"Weighting the bonus by its probability (540,000) for a binary outcome.","es":""},"format":"CALCULATION","placeholders":[{"id":"fixed_price","value":"500000","unit":"EUR"},{"id":"bonus","value":"50000","unit":"EUR"},{"id":"probability","value":"80","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Fixed price","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Completion bonus","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Probability of meeting the deadline","es":""},"value":"80","unit":"PERCENT"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":550000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Fixed price","es":""},"value":500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Completion bonus","es":""},"value":50000,"unit":"EUR"}],"result":550000,"unit":"EUR"}],"rationale":{"fr":"","en":"With two possible outcomes (bonus achieved or not), the most likely amount is the method used here (IFRS 15, para. 53): the most likely outcome is that the bonus is earned, i.e. 50,000.","es":""},"references":["REF.IFRS15.53","REF.IFRS15.56"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000116","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000302","tested_point":"VG.IFRS15.000302","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §53"],"exercise":{"prompt":{"fr":"","en":"The software house Lormont is deploying a payroll application at Cassin for fees of {base_fee}. An additional {success_fee} will be paid if go-live succeeds at the first attempt; otherwise no additional amount is due. Lormont assesses the chance of success at the first attempt at {success_chance}% and uses the most likely amount (given judgement). What transaction price results from this estimate?","es":""},"explanation":{"fr":"","en":"The success fee has only two possible outcomes; Lormont uses the most likely amount (IFRS 15, para. 53). With a 30% chance of success, the most likely outcome is that no additional fee is earned: the estimate of the variable part is nil and the transaction price is 320,000. Weighting the fee (320,000 + 30% × 40,000 = 332,000) would amount to applying the expected value to a binary outcome.","es":""},"common_error":{"fr":"","en":"Adding 30% of the success fee to the fixed price.","es":""},"format":"CALCULATION","placeholders":[{"id":"base_fee","value":"320000","unit":"EUR"},{"id":"success_fee","value":"40000","unit":"EUR"},{"id":"success_chance","value":"30","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Fixed fees","es":""},"value":"320000","unit":"EUR"},{"label":{"fr":"","en":"Success fee","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Chance of success at the first attempt","es":""},"value":"30","unit":"PERCENT"}],"steps":[{"id":"ESTIMATED_PRICE","label":{"fr":"","en":"Estimated transaction price","es":""},"answer":320000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000117","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000117","tested_point":"QST.IFRS15.000117","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §57","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"The cooperative Sarthenay sells seeds with an additional discount if the yield of the customer's harvest exceeds a threshold. Which of the following facts increases the risk of a significant reversal of revenue recognised for this discount?","es":""},"explanation":{"fr":"","en":"The constraint considers both the likelihood and the magnitude of a reversal. Consideration that is highly susceptible to external factors, such as weather, is one of the factors that increase this risk (IFRS 15, para. 57); the variable amount is included only if it is highly probable that no significant reversal will occur (IFRS 15, para. 56).","es":""},"common_error":{"fr":"","en":"Including the whole of a discount highly susceptible to external factors without applying the constraint.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Long experience of similar contracts, with highly predictive results.","es":""},"correct":false,"feedback":{"fr":"","en":"Extensive and predictive experience reduces the risk of reversal; it does not increase it.","es":""}},{"id":"B","text":{"fr":"","en":"A yield that depends on the weather conditions of the season.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"An uncertainty resolved a few days after the sale.","es":""},"correct":false,"feedback":{"fr":"","en":"On the contrary, it is an uncertainty resolved only after a long period that increases the risk.","es":""}},{"id":"D","text":{"fr":"","en":"A very narrow range of possible amounts for the discount.","es":""},"correct":false,"feedback":{"fr":"","en":"It is a broad range of possible amounts that increases the risk, not a narrow one.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000118","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000118","tested_point":"QST.IFRS15.000118","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §56","IFRS 15 §57"],"exercise":{"prompt":{"fr":"","en":"Pellan, a video game publisher, is assessing the constraint on variable consideration in a distribution contract. Which items must it take into account?","es":""},"explanation":{"fr":"","en":"The variable amount is included in the transaction price only if it is highly probable that no significant reversal in the cumulative amount of revenue will occur (IFRS 15, para. 56). The assessment considers both the likelihood and the magnitude of a reversal; a practice of granting price concessions and an uncertainty resolved only after a long period increase the risk (IFRS 15, para. 57). The standard sets no numerical probability threshold.","es":""},"common_error":{"fr":"","en":"Looking for a numerical probability threshold in the standard.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only the likelihood of a reversal, assessed against a fixed threshold of 75%.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard covers both likelihood and magnitude, and sets no numerical threshold.","es":""}},{"id":"B","text":{"fr":"","en":"The magnitude of the possible reversal relative to cumulative revenue.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Its usual practice of granting price concessions to distributors.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Its wish to smooth its profit from one year to the next.","es":""},"correct":false,"feedback":{"fr":"","en":"A profit-smoothing objective is not a factor in assessing the constraint.","es":""}},{"id":"E","text":{"fr":"","en":"The fact that the uncertainty will be resolved only after three years.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"The fact that the distributor has paid part of the fixed price in advance.","es":""},"correct":false,"feedback":{"fr":"","en":"An advance payment of the fixed price says nothing about the risk of reversal of the variable part.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000119","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000119","tested_point":"QST.IFRS15.000119","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §56","IFRS 15 §57","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Ormeau manages a securities portfolio for a customer over 3 years. It receives a fixed fee of 400,000 per year and a performance fee equal to 20% of the positive difference between the portfolio's performance and a stock market index, computed at the end of the 3 years. According to management's simulations, this fee may range from 0 to 900,000; no minimum amount can be regarded as highly probable, and Ormeau's history for this type of mandate has little predictive value (case data). At contract inception, which treatment of the performance fee is most consistent with the constraint?","es":""},"explanation":{"fr":"","en":"The variable amount is included only to the extent that it is highly probable that it will not result in a significant reversal of cumulative revenue (IFRS 15, para. 56). Here, several factors increase that risk: susceptibility to financial markets, an uncertainty resolved only after 3 years, experience of little predictive value and a broad range of amounts (IFRS 15, para. 57). With no highly probable amount, Ormeau initially includes only the fixed fee; the assessment will be updated at each reporting date.","es":""},"common_error":{"fr":"","en":"Including a fee highly susceptible to market movements without applying the constraint.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Include the expected value of the fee, i.e. 300,000 according to management's weighted simulations.","es":""},"correct":false,"feedback":{"fr":"","en":"An estimate, however well built, is included only if it passes the constraint; here no amount is highly probable.","es":""}},{"id":"B","text":{"fr":"","en":"Include the fixed fee only and exclude, at this stage, the performance fee.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Recognise no revenue at all, fixed or variable, before the end of the 3 years.","es":""},"correct":false,"feedback":{"fr":"","en":"The constraint applies to the variable part only: the fixed fee is not uncertain.","es":""}},{"id":"D","text":{"fr":"","en":"Include half of the maximum, i.e. 450,000, as a prudent measure.","es":""},"correct":false,"feedback":{"fr":"","en":"A flat percentage of the maximum is not an application of the constraint and rests on no highly probable amount.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000121","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000121","tested_point":"QST.IFRS15.000121","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Corbière excluded a performance bonus from the transaction price at the inception of a 2-year contract. It need not revisit this assessment until the uncertainty is finally resolved, at the end of the contract.","es":""},"explanation":{"fr":"","en":"At the end of each reporting period, the entity updates the estimated transaction price, including its assessment of the constraint, to reflect the circumstances at the reporting date and the changes during the period (IFRS 15, para. 59). Corbière must therefore reconsider the bonus at each reporting date, without waiting for the end of the contract.","es":""},"common_error":{"fr":"","en":"Not re-estimating variable consideration at each reporting date.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000125","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000125","tested_point":"QST.IFRS15.000125","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §60","IFRS 15 §61"],"exercise":{"prompt":{"fr":"","en":"The contract between Mirabel and its customer mentions neither an interest rate nor any financing. Mirabel can therefore conclude, without further analysis, that it contains no significant financing component.","es":""},"explanation":{"fr":"","en":"A financing component may be explicit or implicit (IFRS 15, para. 60): its existence is assessed in the light of all facts and circumstances, not only the contract terms (IFRS 15, para. 61). The absence of a stated interest rate is therefore not enough to rule it out.","es":""},"common_error":{"fr":"","en":"Looking for a financing component only in explicit clauses.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000126","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000126","tested_point":"QST.IFRS15.000126","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §61"],"exercise":{"prompt":{"fr":"","en":"Aubrac sells agricultural greenhouses payable in several annual instalments. To assess whether its contracts contain a significant financing component, which items must it in particular consider?","es":""},"explanation":{"fr":"","en":"The entity considers in particular any difference between the promised consideration and the cash selling price, and the combined effect of the expected length of time between transfer and payment and the prevailing market interest rates (IFRS 15, para. 61).","es":""},"common_error":{"fr":"","en":"Basing the analysis on the legal form of the contract rather than on its economic effects.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Merely the fact that the contract is drafted as a credit sale.","es":""},"correct":false,"feedback":{"fr":"","en":"The form of the contract is not enough: the analysis rests on economic indicators.","es":""}},{"id":"B","text":{"fr":"","en":"The gross margin earned on the greenhouses.","es":""},"correct":false,"feedback":{"fr":"","en":"The margin earned says nothing about the financing benefit provided by the payment schedule.","es":""}},{"id":"C","text":{"fr":"","en":"The difference from the cash price and the combined effect of the payment delay and market rates.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The nature of the greenhouse, financing being possible only for real estate.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard does not limit the financing component to one category of goods.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000127","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000127","tested_point":"QST.IFRS15.000127","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §62"],"exercise":{"prompt":{"fr":"","en":"In which of the following situations does the standard state that there is no significant financing component?","es":""},"explanation":{"fr":"","en":"There is no significant financing component in particular when the customer has paid in advance and chooses the timing of transfer, when a substantial amount of the consideration is variable and depends on a future event outside the substantive control of the parties (for example a sales-based royalty), or when the difference from the cash price arises for a reason other than financing and is proportionate to that reason (IFRS 15, para. 62). A payment several years after delivery or an advance several years before it, with no other explanation, calls on the contrary for a financing analysis.","es":""},"common_error":{"fr":"","en":"Ignoring the financing component of an advance received several years before delivery.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Teyssier delivers a tractor on 1 January 20X1 and will be paid 3 years later, at a price above the cash price.","es":""},"correct":false,"feedback":{"fr":"","en":"A payment 3 years after transfer, above the cash price, calls for a financing analysis.","es":""}},{"id":"B","text":{"fr":"","en":"Ondine's customers buy prepaid call credits in advance and use them whenever they wish.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Vialar receives full payment for a vessel 3 years before delivery, at a price below the cash price.","es":""},"correct":false,"feedback":{"fr":"","en":"An advance 3 years ahead at a reduced price in principle reflects a financing benefit for the entity.","es":""}},{"id":"D","text":{"fr":"","en":"Escande receives, for a licence, a royalty equal to a percentage of the customer's future sales.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Rocamir's customer withholds 10% of the price until final acceptance, to protect itself against incomplete performance.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000128","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000128","tested_point":"QST.IFRS15.000128","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §61"],"exercise":{"prompt":{"fr":"","en":"To assess whether the financing component of a contract is significant, Puymorens considers in particular the expected length of time between the transfer of the goods to the customer and their payment, combined with market interest rates.","es":""},"explanation":{"fr":"","en":"The items to consider include the combined effect of the expected length of time between the transfer of the goods or services and their payment, on the one hand, and the prevailing market interest rates, on the other (IFRS 15, para. 61). The longer that period and the higher the rates, the more likely the financing benefit is to be significant.","es":""},"common_error":{"fr":"","en":"Considering only the price difference and forgetting the length of the credit granted.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000129","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000129","tested_point":"QST.IFRS15.000129","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §64"],"exercise":{"prompt":{"fr":"","en":"Castagnède sells a machine payable 3 years after delivery and has concluded that there is a significant financing component. The available data are: risk-free rate 2%, Castagnède's borrowing rate 4%, rate at which Castagnède would separately finance this customer given its credit risk and the collateral provided 7%, promotional rate shown in the brochure 0%. Which rate should be used to adjust the consideration?","es":""},"explanation":{"fr":"","en":"The adjustment uses the rate that would be reflected in a separate financing transaction between the entity and its customer at contract inception, reflecting the credit characteristics of the party receiving financing, here the customer, and any collateral (IFRS 15, para. 64). The 7% rate meets this definition.","es":""},"common_error":{"fr":"","en":"Discounting at the risk-free rate rather than at the rate of a separate financing transaction with the customer.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"2%, the risk-free rate.","es":""},"correct":false,"feedback":{"fr":"","en":"The risk-free rate does not reflect the credit risk of the customer being financed.","es":""}},{"id":"B","text":{"fr":"","en":"7%.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"4%, the rate at which Castagnède borrows.","es":""},"correct":false,"feedback":{"fr":"","en":"Here the party receiving financing is the customer: its credit risk matters, not Castagnède's.","es":""}},{"id":"D","text":{"fr":"","en":"0%, the promotional rate shown.","es":""},"correct":false,"feedback":{"fr":"","en":"A promotional rate shown in a brochure is not representative of a separate financing transaction with the customer.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000130","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000130","tested_point":"QST.IFRS15.000130","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §64"],"exercise":{"prompt":{"fr":"","en":"In 20X1 Lescure discounted a payment deferred for 3 years at a rate of 6%. As market rates rose sharply in 20X2, it must revise this rate at the 20X2 reporting date.","es":""},"explanation":{"fr":"","en":"The discount rate is determined at contract inception; it is not subsequently updated for changes in interest rates or in the customer's credit risk (IFRS 15, para. 64). Lescure therefore keeps 6%.","es":""},"common_error":{"fr":"","en":"Revising the rate at each reporting date as if it were an estimate of variable consideration.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000131","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000304","tested_point":"VG.IFRS15.000304","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §61","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"On 1 January 20X1, Montagut transfers control of a press to Riols, which will pay {promised_amount} in {deferral} years. Montagut has concluded that there is a significant financing component; the rate of a separate financing transaction with Riols at that date is {financing_rate}% (case data). Interest is computed each year on the opening balance of the receivable (teaching assumption). Compute the revenue recognised on transfer and the interest income for 20X1.","es":""},"explanation":{"fr":"","en":"Revenue is recognised at the price the customer would have paid in cash on transfer (IFRS 15, para. 61), obtained by discounting the consideration at the rate of a separate financing transaction with the customer (IFRS 15, para. 64): 121,000 / 1.10^2 = 121,000 / 1.21 = 100,000. Interest for 20X1 amounts to 100,000 × 10% = 10,000; it is presented separately from revenue (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Recognising revenue of 121,000 on transfer.","es":""},"format":"CALCULATION","placeholders":[{"id":"promised_amount","value":"121000","unit":"EUR"},{"id":"deferral","value":"2","unit":"YEARS"},{"id":"financing_rate","value":"10","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Promised consideration payable later","es":""},"value":"121000","unit":"EUR"},{"label":{"fr":"","en":"Payment delay","es":""},"value":"2","unit":"YEARS"},{"label":{"fr":"","en":"Rate of a separate financing transaction with the customer","es":""},"value":"10","unit":"PERCENT"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue on transfer","es":""},"answer":100000,"tolerance":0,"unit":"EUR"},{"id":"INTEREST_20X1","label":{"fr":"","en":"Interest income for 20X1","es":""},"answer":10000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE","meaning":{"fr":"","en":"Revenue on transfer","es":""},"expression":"a / (1 + b)^2","variables":[{"symbol":"a","meaning":{"fr":"","en":"Promised consideration payable later","es":""},"value":121000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction with the customer","es":""},"value":10,"unit":"PERCENT"}],"result":100000,"unit":"EUR","rationale":{"fr":"","en":"Revenue is recognised at the price the customer would have paid in cash on transfer (IFRS 15, para. 61), obtained by discounting the consideration at the rate of a separate financing transaction with the customer (IFRS 15, para. 64): 121,000 / 1.10^2 = 121,000 / 1.21 = 100,000.","es":""}},{"step":"INTEREST_20X1","meaning":{"fr":"","en":"Interest income for 20X1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Revenue on transfer","es":""},"value":100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction with the customer","es":""},"value":10,"unit":"PERCENT"}],"result":10000,"unit":"EUR"}],"references":["REF.IFRS15.61","REF.IFRS15.64","REF.IFRS15.65"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000132","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000304","tested_point":"VG.IFRS15.000304","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §61","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"On 1 January 20X1, Sabarthès delivers a bottling line to the cooperative Vinsobres, which will pay {deferred_price} at the end of a {credit_period}-year credit period. The contract contains a significant financing component. The rate at which Sabarthès would separately finance Vinsobres is {customer_rate}%; the risk-free rate is {risk_free_rate}% (case data). Interest is computed on each year's opening balance (teaching assumption). Compute the revenue from the delivery and the interest income for 20X2.","es":""},"explanation":{"fr":"","en":"The relevant rate is that of a separate financing transaction with the customer, not the risk-free rate (IFRS 15, para. 64). Revenue at the cash selling price (IFRS 15, para. 61): 266,200 / 1.10^3 = 266,200 / 1.331 = 200,000. Interest for 20X1: 200,000 × 10% = 20,000, balance 220,000; interest for 20X2: 220,000 × 10% = 22,000, presented separately from revenue (IFRS 15, para. 65).","es":""},"common_error":{"fr":"","en":"Discounting at the risk-free rate of 3%.","es":""},"format":"CALCULATION","placeholders":[{"id":"deferred_price","value":"266200","unit":"EUR"},{"id":"credit_period","value":"3","unit":"YEARS"},{"id":"customer_rate","value":"10","unit":"PERCENT"},{"id":"risk_free_rate","value":"3","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Price payable later","es":""},"value":"266200","unit":"EUR"},{"label":{"fr":"","en":"Credit period","es":""},"value":"3","unit":"YEARS"},{"label":{"fr":"","en":"Rate of a separate financing transaction with the customer","es":""},"value":"10","unit":"PERCENT"},{"label":{"fr":"","en":"Risk-free rate","es":""},"value":"3","unit":"PERCENT"}],"steps":[{"id":"CASH_EQUIVALENT_REVENUE","label":{"fr":"","en":"Revenue from the delivery","es":""},"answer":200000,"tolerance":0,"unit":"EUR"},{"id":"INTEREST_20X2","label":{"fr":"","en":"Interest income for 20X2","es":""},"answer":22000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CASH_EQUIVALENT_REVENUE","meaning":{"fr":"","en":"Revenue from the delivery","es":""},"expression":"a / (1 + b)^3","variables":[{"symbol":"a","meaning":{"fr":"","en":"Price payable later","es":""},"value":266200,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction with the customer","es":""},"value":10,"unit":"PERCENT"}],"result":200000,"unit":"EUR"}],"rationale":{"fr":"","en":"The relevant rate is that of a separate financing transaction with the customer, not the risk-free rate (IFRS 15, para. 64).","es":""},"references":["REF.IFRS15.61","REF.IFRS15.64","REF.IFRS15.65"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000133","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000305","tested_point":"VG.IFRS15.000305","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §60","IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"On 1 January 20X1, Pradelles receives an advance of {advance} for a custom-made tank that it will deliver in {lead_time} years. It has concluded that there is a significant financing component; the rate that would apply in a separate financing transaction from the customer to Pradelles, given Pradelles' credit risk, is {entity_rate}% (case data). Interest is computed on the opening balance of the contract liability (teaching assumption). Compute the interest expense for 20X1 and the revenue recognised on delivery.","es":""},"explanation":{"fr":"","en":"Here the entity receives the financing: the rate reflects its own credit risk (IFRS 15, para. 64). The contract liability of 200,000 increases by the interest, recognised as an expense and presented separately from revenue (IFRS 15, para. 65): 20X1, 200,000 × 5% = 10,000; 20X2, 210,000 × 5% = 10,500. On delivery, the liability of 220,500 (200,000 × 1.05^2) is released to revenue.","es":""},"common_error":{"fr":"","en":"Ignoring the financing component and recognising revenue of 200,000 on delivery.","es":""},"format":"CALCULATION","placeholders":[{"id":"advance","value":"200000","unit":"EUR"},{"id":"lead_time","value":"2","unit":"YEARS"},{"id":"entity_rate","value":"5","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Advance received","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Time until delivery","es":""},"value":"2","unit":"YEARS"},{"label":{"fr":"","en":"Rate of a separate financing transaction reflecting the entity's credit risk","es":""},"value":"5","unit":"PERCENT"}],"steps":[{"id":"INTEREST_EXPENSE_20X1","label":{"fr":"","en":"Interest expense for 20X1","es":""},"answer":10000,"tolerance":0,"unit":"EUR"},{"id":"REVENUE_ON_DELIVERY","label":{"fr":"","en":"Revenue on delivery","es":""},"answer":220500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE_ON_DELIVERY","meaning":{"fr":"","en":"Revenue on delivery","es":""},"expression":"a * (1 + b)^2","variables":[{"symbol":"a","meaning":{"fr":"","en":"Advance received","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Rate of a separate financing transaction reflecting the entity's credit risk","es":""},"value":5,"unit":"PERCENT"}],"result":220500,"unit":"EUR"}],"rationale":{"fr":"","en":"Here the entity receives the financing: the rate reflects its own credit risk (IFRS 15, para. 64).","es":""},"references":["REF.IFRS15.64","REF.IFRS15.65"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000134","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000305","tested_point":"VG.IFRS15.000305","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §64","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"On 1 January 20X1, the shipowner Kerdonis pays the full price, {prepayment}, of a tug that the shipyard Plouzac will deliver on 31 December 20X3, i.e. in {years_to_transfer} years. Plouzac has concluded that this advance payment provides it with a significant financing benefit. The rate that would apply in a separate financing transaction from Kerdonis to Plouzac, given Plouzac's credit risk, is {borrowing_rate}% (case data); interest is computed on each year's opening balance (teaching assumption). Compute the interest expense for 20X3 and the revenue recognised on delivery.","es":""},"explanation":{"fr":"","en":"The rate reflects the credit risk of the party receiving financing, here Plouzac (IFRS 15, para. 64). The contract liability increases by the interest, presented separately from revenue (IFRS 15, para. 65): 20X1, 500,000 × 4% = 20,000, balance 520,000; 20X2, 520,000 × 4% = 20,800, balance 540,800; 20X3, 540,800 × 4% = 21,632, balance 562,432. This balance is released to revenue on delivery (that is 500,000 × 1.04^3).","es":""},"common_error":{"fr":"","en":"Computing interest for 20X3 on the initial advance (20,000).","es":""},"format":"CALCULATION","placeholders":[{"id":"prepayment","value":"500000","unit":"EUR"},{"id":"years_to_transfer","value":"3","unit":"YEARS"},{"id":"borrowing_rate","value":"4","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Advance payment","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Time until transfer","es":""},"value":"3","unit":"YEARS"},{"label":{"fr":"","en":"Rate of a separate financing transaction reflecting the shipyard's credit risk","es":""},"value":"4","unit":"PERCENT"}],"steps":[{"id":"INTEREST_EXPENSE_20X3","label":{"fr":"","en":"Interest expense for 20X3","es":""},"answer":21632,"tolerance":0,"unit":"EUR"},{"id":"REVENUE_AT_TRANSFER","label":{"fr":"","en":"Revenue on delivery","es":""},"answer":562432,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000138","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000138","tested_point":"QST.IFRS15.000138","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §62","IFRS 15 §60"],"exercise":{"prompt":{"fr":"","en":"Bastide renovates the façade of a building for 900,000. In accordance with industry practice, the customer withholds 5% of the price for 1 year after acceptance, to protect itself against defective work; this amount is released if no reservation is raised. The price includes no mark-up linked to this delay, and the retention is judged proportionate to its purpose (case data). How should Bastide analyse this retention?","es":""},"explanation":{"fr":"","en":"There is no significant financing component when the difference between the promised consideration and the cash selling price arises for reasons other than financing, for example protecting one party against the other's failure to perform, and the difference is proportionate to that reason (IFRS 15, para. 62). The retention protects the customer against defective performance: Bastide does not adjust the consideration for the time value of money (IFRS 15, para. 60).","es":""},"common_error":{"fr":"","en":"Treating any retention as financing granted to the customer.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A financing component is always present as soon as a payment is made after transfer.","es":""},"correct":false,"feedback":{"fr":"","en":"A deferred payment does not automatically imply financing: its reason must be analysed.","es":""}},{"id":"B","text":{"fr":"","en":"Bastide must discount the 45,000 withheld at a market rate.","es":""},"correct":false,"feedback":{"fr":"","en":"Discounting presupposes a significant financing component, which is not the case here.","es":""}},{"id":"C","text":{"fr":"","en":"The retention serves to protect the customer, proportionately: no significant financing component.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The retention must be excluded from the transaction price until it is released.","es":""},"correct":false,"feedback":{"fr":"","en":"The retention is part of the promised consideration; the question is whether there is financing, not whether to exclude it.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000139","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000139","tested_point":"QST.IFRS15.000139","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §60","IFRS 15 §61","IFRS 15 §65"],"exercise":{"prompt":{"fr":"","en":"Valcros manufactures custom-built turbines. A customer offers to pay 2,400,000 on order, 4 years before delivery, instead of 3,000,000 on delivery, the price it would pay in cash at that date. Valcros accepts in order to finance production without borrowing. Its finance director proposes to recognise a contract liability of 2,400,000 and to release it unchanged to revenue on delivery. Which analysis do you retain?","es":""},"explanation":{"fr":"","en":"The significant difference between the promised consideration and the cash selling price, combined with a 4-year period, indicates a significant financing benefit for Valcros (IFRS 15, para. 60 and 61). The objective is to recognise revenue at the amount the customer would have paid in cash on transfer (IFRS 15, para. 61). Valcros therefore increases the contract liability by an interest expense, presented separately from revenue (IFRS 15, para. 65), and recognises on delivery revenue close to the cash price, depending on the rate of a separate financing transaction used (data to be determined).","es":""},"common_error":{"fr":"","en":"Ignoring the financing component of an advance received several years before delivery.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The proposal is correct: an advance is never financing.","es":""},"correct":false,"feedback":{"fr":"","en":"An advance may provide a financing benefit to the entity; here the price difference and the 4-year period show it.","es":""}},{"id":"B","text":{"fr":"","en":"There is a financing component: interest expense on the contract liability, presented outside revenue.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Revenue of 3,000,000 and a contract asset of 600,000 must be recognised on order.","es":""},"correct":false,"feedback":{"fr":"","en":"On order, Valcros receives a payment before any transfer: this is a contract liability, not revenue with a contract asset.","es":""}},{"id":"D","text":{"fr":"","en":"The difference of 600,000 is a discount that permanently reduces revenue to 2,400,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The difference remunerates the financing provided by the customer; it is not a mere trade discount.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000140","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000140","tested_point":"QST.IFRS15.000140","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §66"],"exercise":{"prompt":{"fr":"","en":"Fargues receives a utility vehicle from a customer as payment for fit-out works. To determine the transaction price, it uses the carrying amount of the vehicle in the customer's books.","es":""},"explanation":{"fr":"","en":"When a customer promises consideration in a form other than cash, the entity measures it at fair value to determine the transaction price (IFRS 15, para. 66). The carrying amount in the customer's books is not the measure used.","es":""},"common_error":{"fr":"","en":"Using a carrying amount specific to the customer.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000141","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000141","tested_point":"QST.IFRS15.000141","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The architecture firm Ventadour designs the extension of an art gallery and receives in exchange a unique work of art whose fair value cannot be reasonably estimated. How does it measure the consideration received?","es":""},"explanation":{"fr":"","en":"If the fair value of non-cash consideration cannot be reasonably estimated, the entity measures it indirectly, by reference to the stand-alone selling price of the goods or services promised to the customer (IFRS 15, para. 67).","es":""},"common_error":{"fr":"","en":"Not recognising revenue because the fair value of the consideration is unavailable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It recognises no revenue, since it cannot reliably measure the work of art received.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides for indirect measurement: the lack of an estimable fair value does not prevent revenue recognition.","es":""}},{"id":"B","text":{"fr":"","en":"By reference to the stand-alone selling price of its services.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"At the cost of the hours spent by its architects on the project, with no margin.","es":""},"correct":false,"feedback":{"fr":"","en":"The cost of the services rendered is not the reference set by the standard.","es":""}},{"id":"D","text":{"fr":"","en":"At the insurance value declared by the gallery for the work, even though it is not a fair value.","es":""},"correct":false,"feedback":{"fr":"","en":"A declared insurance value is not the fallback reference set by the standard.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000142","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000307","tested_point":"VG.IFRS15.000307","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §66"],"exercise":{"prompt":{"fr":"","en":"The consultancy Arvel assists the listed company Solenne with a restructuring. It receives cash fees of {cash_fee} and {shares_received} Solenne shares, whose fair value per share at the measurement date used is {fair_value_per_share} (case data). Compute the transaction price.","es":""},"explanation":{"fr":"","en":"Non-cash consideration, here shares, is measured at fair value to determine the transaction price (IFRS 15, para. 66): 2,000 × 45 = 90,000. Transaction price: 30,000 + 90,000 = 120,000.","es":""},"common_error":{"fr":"","en":"Using only the cash fees (30,000).","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_fee","value":"30000","unit":"EUR"},{"id":"shares_received","value":"2000","unit":"UNITS"},{"id":"fair_value_per_share","value":"45","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash fees","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Number of shares received","es":""},"value":"2000","unit":"UNITS"},{"label":{"fr":"","en":"Fair value per share","es":""},"value":"45","unit":"EUR"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":120000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a + (b * c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash fees","es":""},"value":30000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Number of shares received","es":""},"value":2000,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Fair value per share","es":""},"value":45,"unit":"EUR"}],"result":120000,"unit":"EUR"}],"rationale":{"fr":"","en":"Non-cash consideration, here shares, is measured at fair value to determine the transaction price (IFRS 15, para. 66): 2,000 × 45 = 90,000.","es":""},"references":["REF.IFRS15.66"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000143","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000307","tested_point":"VG.IFRS15.000307","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15","IFRS 15 §66"],"exercise":{"prompt":{"fr":"","en":"The coachbuilder Ostal manufactures a refrigerated truck for Glacière for {cash_price} in cash. Glacière supplies the chassis, of which Ostal obtains control (given conclusion), with a fair value of {chassis_fair_value}. It also lends Ostal a test bench with a fair value of {tool_fair_value}, which it will take back on delivery and of which Ostal does not obtain control. Compute the transaction price.","es":""},"explanation":{"fr":"","en":"When a customer contributes goods to facilitate the fulfilment of the contract, the entity assesses whether it obtains control of them; if so, they are non-cash consideration received from the customer (IFRS 15, para. 69), measured at fair value (IFRS 15, para. 66). The chassis is included, the test bench is not: 180,000 + 24,000 = 204,000.","es":""},"common_error":{"fr":"","en":"Including the test bench lent (209,000).","es":""},"format":"CALCULATION","placeholders":[{"id":"cash_price","value":"180000","unit":"EUR"},{"id":"chassis_fair_value","value":"24000","unit":"EUR"},{"id":"tool_fair_value","value":"5000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cash price","es":""},"value":"180000","unit":"EUR"},{"label":{"fr":"","en":"Fair value of the chassis supplied","es":""},"value":"24000","unit":"EUR"},{"label":{"fr":"","en":"Fair value of the test bench lent","es":""},"value":"5000","unit":"EUR"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":204000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cash price","es":""},"value":180000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fair value of the chassis supplied","es":""},"value":24000,"unit":"EUR"}],"result":204000,"unit":"EUR"}],"references":["REF.IFRS15.69","REF.IFRS15.66"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000144","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000307","tested_point":"VG.IFRS15.000307","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Brumaire provides IT support for {support_months} months to a young biotechnology company. In exchange, it receives no cash but a licence to use an unlisted patent, whose fair value cannot be reasonably estimated (case data). The stand-alone selling price of the support is {monthly_ssp} per month. Determine the transaction price.","es":""},"explanation":{"fr":"","en":"As the fair value of the licence received cannot be reasonably estimated, Brumaire measures the consideration indirectly, by reference to the stand-alone selling price of the services promised (IFRS 15, para. 67): 12 × 6,500 = 78,000.","es":""},"common_error":{"fr":"","en":"Using a nil transaction price because no cash is paid.","es":""},"format":"CALCULATION","placeholders":[{"id":"monthly_ssp","value":"6500","unit":"EUR"},{"id":"support_months","value":"12","unit":"MONTHS"}],"data":[{"label":{"fr":"","en":"Monthly stand-alone selling price of the support","es":""},"value":"6500","unit":"EUR"},{"label":{"fr":"","en":"Support period","es":""},"value":"12","unit":"MONTHS"}],"steps":[{"id":"TRANSACTION_PRICE","label":{"fr":"","en":"Transaction price","es":""},"answer":78000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"TRANSACTION_PRICE","meaning":{"fr":"","en":"Transaction price","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Support period","es":""},"value":12,"unit":"MONTHS"},{"symbol":"b","meaning":{"fr":"","en":"Monthly stand-alone selling price of the support","es":""},"value":6500,"unit":"EUR"}],"result":78000,"unit":"EUR","rationale":{"fr":"","en":"As the fair value of the licence received cannot be reasonably estimated, Brumaire measures the consideration indirectly, by reference to the stand-alone selling price of the services promised (IFRS 15, para. 67): 12 × 6,500 = 78,000.","es":""}}],"references":["REF.IFRS15.67"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000145","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000145","tested_point":"QST.IFRS15.000145","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"For some contracts, Tarnos receives non-cash consideration. Which statements are correct?","es":""},"explanation":{"fr":"","en":"The fair value of non-cash consideration may vary because of its form, for example the price of a share to be received; if it varies for reasons other than its form only, such as the entity's level of performance, the constraint on variable consideration applies (IFRS 15, para. 68). Goods contributed by the customer to facilitate fulfilment of the contract are non-cash consideration only if the entity obtains control of them (IFRS 15, para. 69).","es":""},"common_error":{"fr":"","en":"Including in the transaction price customer goods of which the entity does not obtain control.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"If the number of shares to be received depends on Tarnos' performance, the resulting variation falls within the constraint on variable consideration.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Any variation in the fair value of shares to be received, including one due solely to the share price, is subject to the constraint.","es":""},"correct":false,"feedback":{"fr":"","en":"The constraint targets variations for reasons other than form only; the share price relates to form.","es":""}},{"id":"C","text":{"fr":"","en":"Materials supplied by the customer, of which Tarnos obtains control, are non-cash consideration.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Equipment lent by the customer, of which Tarnos does not obtain control, is included in the transaction price at fair value.","es":""},"correct":false,"feedback":{"fr":"","en":"Without control of the equipment by Tarnos, there is no non-cash consideration to include.","es":""}},{"id":"E","text":{"fr":"","en":"The fair value of non-cash consideration may vary solely because of its form, for example a share price.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000146","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000146","tested_point":"QST.IFRS15.000146","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"The biscuit maker Lanvaux pays the retail chain Primavera, its customer, a contribution of 15,000 for listing its products, without receiving any distinct good or service in exchange. Lanvaux recognises this amount as a selling expense.","es":""},"explanation":{"fr":"","en":"Consideration payable to a customer is accounted for as a reduction of the transaction price, and therefore of revenue, unless it is in exchange for a distinct good or service from the customer (IFRS 15, para. 70). With no distinct service received, the 15,000 reduces Lanvaux's revenue.","es":""},"common_error":{"fr":"","en":"Recognising as a selling expense an amount paid to the customer with no distinct consideration.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000147","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000147","tested_point":"QST.IFRS15.000147","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"Morgat manufactures cleaning products sold to supermarkets, which resell them to consumers. Which of the following is consideration payable to a customer?","es":""},"explanation":{"fr":"","en":"Consideration payable to a customer includes amounts paid or expected to be paid to the customer or to other parties that purchase the goods from the customer, as well as credits, coupons or vouchers that can be applied against amounts owed (IFRS 15, para. 70). Discount coupons issued by Morgat and used by consumers, who are subsequent purchasers, are included.","es":""},"common_error":{"fr":"","en":"Forgetting that subsequent purchasers fall within the scope of consideration payable to a customer.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Bonuses paid to Morgat's employed sales staff on sales to supermarkets.","es":""},"correct":false,"feedback":{"fr":"","en":"Remuneration paid to its own employees is not an amount payable to a customer.","es":""}},{"id":"B","text":{"fr":"","en":"Morgat's payments to its suppliers of bottles and packaging, settled at 60 days.","es":""},"correct":false,"feedback":{"fr":"","en":"Payments to suppliers are not amounts paid to customers.","es":""}},{"id":"C","text":{"fr":"","en":"Morgat discount coupons used by consumers.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Transport costs invoiced to Morgat by an independent carrier for deliveries to stores.","es":""},"correct":false,"feedback":{"fr":"","en":"An independent carrier is neither a customer nor a subsequent purchaser of the products.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000148","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000308","tested_point":"VG.IFRS15.000308","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"In 20X1, the fruit juice maker Laurac delivers products invoiced at {gross_sales} to the store chain Distrimax. To obtain new shelf space, it pays Distrimax {listing_fee} during the year, without receiving any distinct good or service (given conclusion). Compute the revenue for 20X1 from this contract.","es":""},"explanation":{"fr":"","en":"The amount paid to the customer with no distinct consideration reduces the transaction price (IFRS 15, para. 70): 400,000 − 20,000 = 380,000. Recognising it as a selling expense would overstate revenue.","es":""},"common_error":{"fr":"","en":"Recognising as a selling expense an amount paid to the customer with no distinct consideration.","es":""},"format":"CALCULATION","placeholders":[{"id":"gross_sales","value":"400000","unit":"EUR"},{"id":"listing_fee","value":"20000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Invoiced sales","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Amount paid to the customer","es":""},"value":"20000","unit":"EUR"}],"steps":[{"id":"NET_REVENUE","label":{"fr":"","en":"Revenue for 20X1","es":""},"answer":380000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"NET_REVENUE","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Invoiced sales","es":""},"value":400000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Amount paid to the customer","es":""},"value":20000,"unit":"EUR"}],"result":380000,"unit":"EUR","rationale":{"fr":"","en":"The amount paid to the customer with no distinct consideration reduces the transaction price (IFRS 15, para. 70): 400,000 − 20,000 = 380,000.","es":""}}],"references":["REF.IFRS15.70"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000149","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000308","tested_point":"VG.IFRS15.000308","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §71","IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"The brewery Cantal sells beer worth {sales_to_retailer} to the retailer Marchéo in 20X1. It pays Marchéo {payment_for_advertising} for a poster campaign in its stores, a distinct service whose fair value, reasonably estimated, is {fair_value_of_service} (case data). Compute the revenue for 20X1 and the amount recognised as a purchase of the advertising service.","es":""},"explanation":{"fr":"","en":"When the amount paid to the customer is for a distinct service, the entity accounts for the purchase in the same way as other purchases from suppliers; the excess of the payment over the fair value of the service reduces the transaction price (IFRS 15, para. 71). Purchase: 35,000; excess: 50,000 − 35,000 = 15,000; revenue: 600,000 − 15,000 = 585,000. Without a distinct service, the whole amount would have reduced the transaction price (IFRS 15, para. 70).","es":""},"common_error":{"fr":"","en":"Recognising the 50,000 as advertising expense.","es":""},"format":"CALCULATION","placeholders":[{"id":"sales_to_retailer","value":"600000","unit":"EUR"},{"id":"payment_for_advertising","value":"50000","unit":"EUR"},{"id":"fair_value_of_service","value":"35000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Sales invoiced to the customer","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Amount paid for the campaign","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Fair value of the advertising service","es":""},"value":"35000","unit":"EUR"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue for 20X1","es":""},"answer":585000,"tolerance":0,"unit":"EUR"},{"id":"ADVERTISING_PURCHASE","label":{"fr":"","en":"Purchase of the advertising service","es":""},"answer":35000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"expression":"a - (b - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sales invoiced to the customer","es":""},"value":600000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Amount paid for the campaign","es":""},"value":50000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Fair value of the advertising service","es":""},"value":35000,"unit":"EUR"}],"result":585000,"unit":"EUR"}],"references":["REF.IFRS15.71","REF.IFRS15.70"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000150","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000150","tested_point":"QST.IFRS15.000150","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §71"],"exercise":{"prompt":{"fr":"","en":"The publisher Kerjean pays 40,000 to a distributor customer for footfall data from its outlets. Kerjean concludes that this is a distinct service but cannot reasonably estimate its fair value. How should the 40,000 be treated?","es":""},"explanation":{"fr":"","en":"If consideration payable to a customer is for a distinct good or service but its fair value cannot be reasonably estimated, the entire amount paid is accounted for as a reduction of the transaction price (IFRS 15, para. 71).","es":""},"common_error":{"fr":"","en":"Treating the amount as a purchase without being able to measure its fair value.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a purchase of services of 40,000, since the service received is distinct.","es":""},"correct":false,"feedback":{"fr":"","en":"Treatment as a purchase requires the fair value of the service to be measurable, which is not the case.","es":""}},{"id":"B","text":{"fr":"","en":"Entirely as a reduction of the transaction price.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Half as a purchase of services and half as a reduction of the price, for lack of a better estimate.","es":""},"correct":false,"feedback":{"fr":"","en":"A flat split is not an estimate of fair value and is not provided for by the standard.","es":""}},{"id":"D","text":{"fr":"","en":"As an intangible asset, since the data have lasting value for Kerjean.","es":""},"correct":false,"feedback":{"fr":"","en":"The issue is consideration payable to a customer, which the standard treats as a price reduction when fair value is not available.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000151","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000151","tested_point":"QST.IFRS15.000151","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §72","IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"The cheese maker Salers sold cheese to the purchasing group Alpina in March 20X1 and recognised the related revenue. In September 20X1, following a commercial renegotiation, it promises Alpina a payment of 6,000 without receiving any distinct good or service; it previously had no customary practice or intention of doing so (case data). The payment will be made in December 20X1. When does Salers recognise the reduction of revenue?","es":""},"explanation":{"fr":"","en":"When consideration payable to a customer reduces the transaction price (IFRS 15, para. 70), the reduction is recognised at the later of: recognition of revenue for the related goods, or payment or promise to pay by the entity (IFRS 15, para. 72). As revenue was recognised in March and the promise was made in September, the reduction is recognised in September 20X1.","es":""},"common_error":{"fr":"","en":"Waiting for the cash outflow to reduce revenue.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In March 20X1, retrospectively, at the date on which revenue from the cheese was recognised.","es":""},"correct":false,"feedback":{"fr":"","en":"The reduction cannot precede the promise to pay: the later date is used.","es":""}},{"id":"B","text":{"fr":"","en":"In September 20X1, when the promise is made.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"In December 20X1, when the payment is actually made to the purchasing group Alpina.","es":""},"correct":false,"feedback":{"fr":"","en":"Actual payment is not required: the promise is enough, even before the payment.","es":""}},{"id":"D","text":{"fr":"","en":"Never: the payment is recognised as a selling expense when paid.","es":""},"correct":false,"feedback":{"fr":"","en":"With no distinct good or service, the payment reduces the transaction price and is not an expense.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000152","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.NON_CASH_AND_PAYABLE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000152","tested_point":"QST.IFRS15.000152","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":160,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000006","section_id":"non-cash-rule"},"references":["IFRS 15 §72","IFRS 15 §70"],"exercise":{"prompt":{"fr":"","en":"On 1 March 20X1, the dairy Aubrac announces a campaign of discount coupons that consumers can use on its yoghurts bought in stores between April and June. The yoghurts concerned will be sold to distributors, Aubrac's customers, from April to June; the number of coupons that will be used is uncertain. When and how does Aubrac recognise the reduction of revenue?","es":""},"explanation":{"fr":"","en":"Coupons that can be used by subsequent purchasers are consideration payable to a customer, which reduces the transaction price; their variable part is estimated in accordance with the requirements on variable consideration (IFRS 15, para. 70). The reduction is recognised at the later of: recognition of revenue for the related goods (April to June) or the promise (1 March) (IFRS 15, para. 72). Aubrac therefore reduces revenue as sales are made from April to June, based on an estimate of the coupons that will be used.","es":""},"common_error":{"fr":"","en":"Recognising as a selling expense an amount paid to the customer with no distinct consideration.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On 1 March 20X1, the date of the announcement, for the maximum amount of the coupons issued.","es":""},"correct":false,"feedback":{"fr":"","en":"The promise precedes the sales: the later date, revenue recognition, determines the timing.","es":""}},{"id":"B","text":{"fr":"","en":"Only when consumers use their coupons at the till, as promotional expense.","es":""},"correct":false,"feedback":{"fr":"","en":"The coupons are not an expense: they reduce the transaction price, on an estimated basis from the sales.","es":""}},{"id":"C","text":{"fr":"","en":"In a single amount on 30 June 20X1, at the end of the validity period.","es":""},"correct":false,"feedback":{"fr":"","en":"The reduction follows the recognition of revenue from the related sales, not the end of the campaign.","es":""}},{"id":"D","text":{"fr":"","en":"From April to June, as sales occur, based on an estimate of coupons used.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000153","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000153","tested_point":"QST.IFRS15.000153","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §73"],"exercise":{"prompt":{"fr":"","en":"The objective of allocating the transaction price is to attribute to each performance obligation the amount of consideration to which the entity expects to be entitled in exchange for transferring the related good or service.","es":""},"explanation":{"fr":"","en":"This is indeed the objective of the allocation step: each performance obligation receives the share of consideration that represents what the entity expects in exchange for the good or service it transfers (IFRS 15, para. 73).","es":""},"common_error":{"fr":"","en":"Confusing the allocation of the price with the invoicing schedule of the contract.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000154","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000154","tested_point":"QST.IFRS15.000154","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §77"],"exercise":{"prompt":{"fr":"","en":"The list price of a good is presumed to be its stand-alone selling price.","es":""},"explanation":{"fr":"","en":"The stand-alone selling price is the price at which the entity would sell the good or service separately to a customer; its best evidence is the observable price of separate sales in similar circumstances and to similar customers. A list price may be evidence of it, but there is no presumption to that effect (IFRS 15, para. 77).","es":""},"common_error":{"fr":"","en":"Allocating the transaction price on list prices without checking the prices actually charged in separate sales.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000155","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000155","tested_point":"QST.IFRS15.000155","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §77"],"exercise":{"prompt":{"fr":"","en":"For a promised good or service, which item of data is the best evidence of its stand-alone selling price?","es":""},"explanation":{"fr":"","en":"The stand-alone selling price is the price at which the entity would sell the good or service separately; its best evidence is the observable price of separate sales in similar circumstances and to similar customers (IFRS 15, para. 77). The contract price may be evidence of it, without any presumption.","es":""},"common_error":{"fr":"","en":"Using the price of the bundled contract as the stand-alone selling price of each item.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The price stated in the bundled contract, whatever the circumstances of the sale.","es":""},"correct":false,"feedback":{"fr":"","en":"The contract price may be evidence, but it is not presumed to be the stand-alone selling price.","es":""}},{"id":"B","text":{"fr":"","en":"The observable price of the good sold separately to similar customers.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The production cost of the good, with no margin.","es":""},"correct":false,"feedback":{"fr":"","en":"A cost with no margin does not reflect the price at which the entity would sell the good separately.","es":""}},{"id":"D","text":{"fr":"","en":"The highest price ever obtained for the good.","es":""},"correct":false,"feedback":{"fr":"","en":"An exceptional price is not representative of separate sales in similar circumstances.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000156","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000156","tested_point":"QST.IFRS15.000156","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Arvelle enters into a contract with two performance obligations. At what date does it determine the stand-alone selling prices used to allocate the transaction price?","es":""},"explanation":{"fr":"","en":"To allocate the price on a relative basis, the entity determines the stand-alone selling price of each distinct good or service at contract inception, then allocates the transaction price in proportion to those prices (IFRS 15, para. 76).","es":""},"common_error":{"fr":"","en":"Updating stand-alone selling prices at each reporting date.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"At each reporting date, to reflect the most recent prices.","es":""},"correct":false,"feedback":{"fr":"","en":"The stand-alone selling prices used for the initial allocation are those at contract inception, not those of each reporting date.","es":""}},{"id":"B","text":{"fr":"","en":"At the date each good or service is transferred to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The transfer date is relevant to revenue recognition, not to determining stand-alone selling prices.","es":""}},{"id":"C","text":{"fr":"","en":"At contract inception.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"At the date of the first invoice sent to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Invoicing is not the reference point used by the standard for this determination.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000157","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000157","tested_point":"QST.IFRS15.000157","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §75"],"exercise":{"prompt":{"fr":"","en":"Corvane sells a single monthly security service identified as one performance obligation, for a fixed price. It must allocate that fixed price on the basis of relative stand-alone selling prices before recognising revenue.","es":""},"explanation":{"fr":"","en":"The rules for allocation on relative stand-alone selling prices do not apply to a contract that has only one performance obligation (IFRS 15, para. 75). The whole fixed price relates to that obligation; the rules on variable consideration allocated to an item of a series are not relevant here, as the price is fixed.","es":""},"common_error":{"fr":"","en":"Mechanically applying the allocation step to every contract.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000158","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000158","tested_point":"QST.IFRS15.000158","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"Halvène must estimate the stand-alone selling price of a service it never sells separately. Which of the following methods are cited by the standard as suitable (subject, for one of them, to restrictive conditions)?","es":""},"explanation":{"fr":"","en":"The standard cites, without an exhaustive list, the adjusted market assessment approach, the expected cost plus a margin approach and the residual approach, the latter being permitted only if the stand-alone selling price is highly variable or uncertain (IFRS 15, para. 79). An equal split or using the amount invoiced are not methods for estimating the stand-alone selling price.","es":""},"common_error":{"fr":"","en":"Considering that the residual approach is always prohibited.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Allocating the transaction price equally between the performance obligations.","es":""},"correct":false,"feedback":{"fr":"","en":"An equal split ignores the relative value of the goods or services: it is not an estimate of the stand-alone selling price.","es":""}},{"id":"B","text":{"fr":"","en":"The adjusted market assessment approach.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The expected cost plus a margin approach.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Using the amount invoiced for that service in the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount invoiced in the bundled contract is not an estimation method; it may reflect no separate sale.","es":""}},{"id":"E","text":{"fr":"","en":"The residual approach.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000159","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000401","tested_point":"VG.IFRS15.000401","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §76","IFRS 15 §77"],"exercise":{"prompt":{"fr":"","en":"Velorine sells a customer a sorting machine and a two-year maintenance contract for a total price of {contract_price}. The two items are distinct performance obligations. Velorine regularly sells the machine on its own to similar customers at {ssp_equipment} and the maintenance on its own at {ssp_maintenance}; the list price of the machine is {list_price_equipment}. Compute the amount of the transaction price allocated to the machine.","es":""},"explanation":{"fr":"","en":"The transaction price is allocated in proportion to the stand-alone selling prices determined at contract inception (IFRS 15, para. 76). Observable prices of separate sales to similar customers are the best evidence of them; the list price is not used (IFRS 15, para. 77). Total stand-alone selling prices: 80,000 + 20,000 = 100,000. Machine: 90,000 × 80,000 / 100,000 = 72,000; maintenance: 18,000.","es":""},"common_error":{"fr":"","en":"Using the list price of the machine in the allocation key.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"90000","unit":"EUR"},{"id":"ssp_equipment","value":"80000","unit":"EUR"},{"id":"ssp_maintenance","value":"20000","unit":"EUR"},{"id":"list_price_equipment","value":"95000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract price","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the machine","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the maintenance","es":""},"value":"20000","unit":"EUR"},{"label":{"fr":"","en":"List price of the machine","es":""},"value":"95000","unit":"EUR"}],"steps":[{"id":"ALLOCATED_EQUIPMENT","label":{"fr":"","en":"Transaction price allocated to the machine","es":""},"answer":72000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALLOCATED_EQUIPMENT","meaning":{"fr":"","en":"Transaction price allocated to the machine","es":""},"expression":"a * b / (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":90000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Observable stand-alone selling price of the machine","es":""},"value":80000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Observable stand-alone selling price of the maintenance","es":""},"value":20000,"unit":"EUR"}],"result":72000,"unit":"EUR"}],"references":["REF.IFRS15.76","REF.IFRS15.77"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000160","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000401","tested_point":"VG.IFRS15.000401","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"A sports equipment supplier, Tonalis, delivers a set of machines to a gym and assembles them at the customer's premises, for {bundle_price} in total. Machines and assembly are two performance obligations. Tonalis usually sells the machines on their own for {ssp_equipment} and the assembly on its own for {ssp_installation}. What share of the transaction price relates to the assembly?","es":""},"explanation":{"fr":"","en":"The transaction price is allocated in proportion to the stand-alone selling prices determined at contract inception (IFRS 15, para. 76). Sum of stand-alone selling prices: 40,000 + 10,000 = 50,000. Assembly: 45,000 × 10,000 / 50,000 = 9,000; machines: 36,000.","es":""},"common_error":{"fr":"","en":"Allocating to the assembly its full stand-alone selling price and the balance to the machines.","es":""},"format":"CALCULATION","placeholders":[{"id":"bundle_price","value":"45000","unit":"EUR"},{"id":"ssp_equipment","value":"40000","unit":"EUR"},{"id":"ssp_installation","value":"10000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract price","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the machines","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the assembly","es":""},"value":"10000","unit":"EUR"}],"steps":[{"id":"ALLOCATED_INSTALLATION","label":{"fr":"","en":"Transaction price allocated to the assembly","es":""},"answer":9000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALLOCATED_INSTALLATION","meaning":{"fr":"","en":"Transaction price allocated to the assembly","es":""},"expression":"a * b / (c + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":45000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the assembly","es":""},"value":10000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the machines","es":""},"value":40000,"unit":"EUR"}],"result":9000,"unit":"EUR"}],"rationale":{"fr":"","en":"The transaction price is allocated in proportion to the stand-alone selling prices determined at contract inception (IFRS 15, para. 76).","es":""},"references":["REF.IFRS15.76"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000161","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000401","tested_point":"VG.IFRS15.000401","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §76","IFRS 15 §74"],"exercise":{"prompt":{"fr":"","en":"The Mirabel group sells a printing company a digital press, the supply of spare parts for three years and operator training, for {contract_price}. The three items are distinct performance obligations, and no evidence shows that the discount granted relates to any one of them in particular. Observed stand-alone selling prices: press {ssp_press}, spare parts {ssp_parts}, training {ssp_training}. Compute the transaction price allocated to the spare parts and to the training.","es":""},"explanation":{"fr":"","en":"Except in specified cases, the transaction price is allocated to the performance obligations in proportion to their stand-alone selling prices (IFRS 15, para. 74), determined at contract inception (IFRS 15, para. 76). Sum: 50,000 + 70,000 + 30,000 = 150,000; ratio 120,000 / 150,000 = 0.8. Spare parts: 70,000 × 0.8 = 56,000; training: 30,000 × 0.8 = 24,000; press: 40,000.","es":""},"common_error":{"fr":"","en":"Charging the whole discount to the press, the most expensive item, without observable evidence.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"120000","unit":"EUR"},{"id":"ssp_press","value":"50000","unit":"EUR"},{"id":"ssp_parts","value":"70000","unit":"EUR"},{"id":"ssp_training","value":"30000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Contract price","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the press","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the spare parts","es":""},"value":"70000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the training","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"ALLOCATED_PARTS","label":{"fr":"","en":"Transaction price allocated to the spare parts","es":""},"answer":56000,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_TRAINING","label":{"fr":"","en":"Transaction price allocated to the training","es":""},"answer":24000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALLOCATED_PARTS","meaning":{"fr":"","en":"Transaction price allocated to the spare parts","es":""},"expression":"a * (b / (c + a + d))","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stand-alone selling price of the spare parts","es":""},"value":70000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Contract price","es":""},"value":120000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the press","es":""},"value":50000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Stand-alone selling price of the training","es":""},"value":30000,"unit":"EUR"}],"result":56000,"unit":"EUR"},{"step":"ALLOCATED_TRAINING","meaning":{"fr":"","en":"Transaction price allocated to the training","es":""},"expression":"a * (b / (c + d + a))","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stand-alone selling price of the training","es":""},"value":30000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Contract price","es":""},"value":120000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the press","es":""},"value":50000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Stand-alone selling price of the spare parts","es":""},"value":70000,"unit":"EUR"}],"result":24000,"unit":"EUR"}],"rationale":{"fr":"","en":"Except in specified cases, the transaction price is allocated to the performance obligations in proportion to their stand-alone selling prices (IFRS 15, para. 74), determined at contract inception (IFRS 15, para. 76).","es":""},"references":["REF.IFRS15.76","REF.IFRS15.74"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000162","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000402","tested_point":"VG.IFRS15.000402","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §79","IFRS 15 §78","IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Pléiade sells an industrial oven and a maintenance service tailored to this customer, for {contract_price}. The oven is regularly sold on its own at {ssp_machine}. The maintenance service is never sold separately; management uses the expected cost plus a margin approach, with an expected cost of {expected_cost} and a margin of {margin_on_cost}% on cost, which (case data) is Pléiade's usual margin on comparable services. Compute the estimated stand-alone selling price of the service, then the transaction price allocated to it.","es":""},"explanation":{"fr":"","en":"In the absence of an observable price, the entity estimates the stand-alone selling price, maximising observable inputs and applying consistent methods (IFRS 15, para. 78); expected cost plus a margin is a suitable method (IFRS 15, para. 79). The margin rate is case data reflecting management's judgement, not the standard. Service: 15,000 × 1.20 = 18,000. Relative allocation (IFRS 15, para. 76): total 60,000 + 18,000 = 78,000; service: 71,500 × 18,000 / 78,000 = 16,500; oven: 55,000.","es":""},"common_error":{"fr":"","en":"Using the expected cost with no margin as the stand-alone selling price.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"71500","unit":"EUR"},{"id":"ssp_machine","value":"60000","unit":"EUR"},{"id":"expected_cost","value":"15000","unit":"EUR"},{"id":"margin_on_cost","value":"20","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Contract price","es":""},"value":"71500","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the oven","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Expected cost of the maintenance service","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Margin on cost used","es":""},"value":"20","unit":"PERCENT"}],"steps":[{"id":"SSP_SERVICE","label":{"fr":"","en":"Estimated stand-alone selling price of the service","es":""},"answer":18000,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_SERVICE","label":{"fr":"","en":"Transaction price allocated to the service","es":""},"answer":16500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"SSP_SERVICE","meaning":{"fr":"","en":"Estimated stand-alone selling price of the service","es":""},"expression":"a * (1 + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected cost of the maintenance service","es":""},"value":15000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Margin on cost used","es":""},"value":20,"unit":"PERCENT"}],"result":18000,"unit":"EUR"},{"step":"ALLOCATED_SERVICE","meaning":{"fr":"","en":"Transaction price allocated to the service","es":""},"expression":"a * b / (c + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Contract price","es":""},"value":71500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Estimated stand-alone selling price of the service","es":""},"value":18000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Observable stand-alone selling price of the oven","es":""},"value":60000,"unit":"EUR"}],"result":16500,"unit":"EUR"}],"references":["REF.IFRS15.79","REF.IFRS15.78","REF.IFRS15.76"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000163","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000402","tested_point":"VG.IFRS15.000402","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §79","IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"The engineering firm Quartane charges {fee} for a design study, commonly sold on its own at {ssp_study}, and for the supervision of the related site work, a service it has never sold separately. It estimates the stand-alone selling price of the supervision at the expected cost of {supervision_cost} plus a margin of {markup}% on cost (assumption chosen by management). The two services are distinct performance obligations. Determine the estimated stand-alone selling price of the supervision and the transaction price allocated to it.","es":""},"explanation":{"fr":"","en":"Expected cost plus a margin is one of the suitable methods for estimating a non-observable stand-alone selling price (IFRS 15, para. 79); the margin used is a matter of management judgement. Supervision: 25,000 × 1.40 = 35,000. Relative allocation (IFRS 15, para. 76): total 30,000 + 35,000 = 65,000; supervision: 52,000 × 35,000 / 65,000 = 28,000; study: 24,000.","es":""},"common_error":{"fr":"","en":"Allocating 52,000 − 30,000 = 22,000 to the supervision through a residual approach, although management used expected cost plus a margin and the conditions for the residual approach (para. 79) are not established.","es":""},"format":"CALCULATION","placeholders":[{"id":"fee","value":"52000","unit":"EUR"},{"id":"ssp_study","value":"30000","unit":"EUR"},{"id":"supervision_cost","value":"25000","unit":"EUR"},{"id":"markup","value":"40","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Total contract fee","es":""},"value":"52000","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the study","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Expected cost of the supervision","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Margin on cost","es":""},"value":"40","unit":"PERCENT"}],"steps":[{"id":"SSP_SUPERVISION","label":{"fr":"","en":"Estimated stand-alone selling price of the supervision","es":""},"answer":35000,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_SUPERVISION","label":{"fr":"","en":"Transaction price allocated to the supervision","es":""},"answer":28000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"SSP_SUPERVISION","meaning":{"fr":"","en":"Estimated stand-alone selling price of the supervision","es":""},"expression":"a * (1 + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected cost of the supervision","es":""},"value":25000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Margin on cost","es":""},"value":40,"unit":"PERCENT"}],"result":35000,"unit":"EUR"},{"step":"ALLOCATED_SUPERVISION","meaning":{"fr":"","en":"Transaction price allocated to the supervision","es":""},"expression":"a * b / (c + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract fee","es":""},"value":52000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Estimated stand-alone selling price of the supervision","es":""},"value":35000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Observable stand-alone selling price of the study","es":""},"value":30000,"unit":"EUR"}],"result":28000,"unit":"EUR"}],"rationale":{"fr":"","en":"Expected cost plus a margin is one of the suitable methods for estimating a non-observable stand-alone selling price (IFRS 15, para. 79)","es":""},"references":["REF.IFRS15.79","REF.IFRS15.76"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000164","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000403","tested_point":"VG.IFRS15.000403","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §79","IFRS 15 §77"],"exercise":{"prompt":{"fr":"","en":"The publisher Sorbaline launches new software that it has never yet sold separately and for which it has not yet set a price. It sells it to a first customer together with installation and one year of support, for {contract_price}. The three items are distinct performance obligations. Installation and support are regularly sold on their own, at {ssp_installation} and {ssp_support} respectively. Sorbaline estimates the stand-alone selling price of the software using the residual approach. Compute that estimated price.","es":""},"explanation":{"fr":"","en":"The residual approach is permitted when the stand-alone selling price is uncertain because the entity has not yet established a price and has never sold the item separately, which is the case here (IFRS 15, para. 79). It deducts from the transaction price the sum of the observable stand-alone selling prices of the other items, which here are prices of separate sales (IFRS 15, para. 77): 100,000 − (12,000 + 18,000) = 70,000.","es":""},"common_error":{"fr":"","en":"Allocating the price equally between the three items.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"100000","unit":"EUR"},{"id":"ssp_installation","value":"12000","unit":"EUR"},{"id":"ssp_support","value":"18000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract price","es":""},"value":"100000","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the installation","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the support","es":""},"value":"18000","unit":"EUR"}],"steps":[{"id":"SSP_LICENCE","label":{"fr":"","en":"Estimated stand-alone selling price of the software","es":""},"answer":70000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"SSP_LICENCE","meaning":{"fr":"","en":"Estimated stand-alone selling price of the software","es":""},"expression":"a - (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":100000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Observable stand-alone selling price of the installation","es":""},"value":12000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Observable stand-alone selling price of the support","es":""},"value":18000,"unit":"EUR"}],"result":70000,"unit":"EUR","rationale":{"fr":"","en":"It deducts from the transaction price the sum of the observable stand-alone selling prices of the other items, which here are prices of separate sales (IFRS 15, para. 77): 100,000 − (12,000 + 18,000) = 70,000.","es":""}}],"references":["REF.IFRS15.79","REF.IFRS15.77"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000165","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000403","tested_point":"VG.IFRS15.000403","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"Ivrane designs exhibition spaces. Its exhibition design services are sold separately at prices that vary widely from one customer to another, with no representative range (documented finding of management). A museum entrusts it, for {total_price}, with the design of a room, the supply of display cases and staff training, three distinct performance obligations. The display cases and the training are regularly sold on their own, at {ssp_hardware} and {ssp_training} respectively. Estimate the stand-alone selling price of the exhibition design using the residual approach.","es":""},"explanation":{"fr":"","en":"The residual approach is permitted when the stand-alone selling price of an item is highly variable, which management has observed and documented for the exhibition design (IFRS 15, para. 79). Estimated price: 80,000 − (45,000 + 5,000) = 30,000. Whether the price is highly variable is a factual assessment involving judgement, supported by the sales history.","es":""},"common_error":{"fr":"","en":"Applying the residual approach to the display cases, whose price is observable and stable.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_price","value":"80000","unit":"EUR"},{"id":"ssp_hardware","value":"45000","unit":"EUR"},{"id":"ssp_training","value":"5000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract price","es":""},"value":"80000","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the display cases","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Observable stand-alone selling price of the training","es":""},"value":"5000","unit":"EUR"}],"steps":[{"id":"SSP_DESIGN","label":{"fr":"","en":"Estimated stand-alone selling price of the exhibition design","es":""},"answer":30000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"SSP_DESIGN","meaning":{"fr":"","en":"Estimated stand-alone selling price of the exhibition design","es":""},"expression":"a - (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":80000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Observable stand-alone selling price of the display cases","es":""},"value":45000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Observable stand-alone selling price of the training","es":""},"value":5000,"unit":"EUR"}],"result":30000,"unit":"EUR"}],"rationale":{"fr":"","en":"The residual approach is permitted when the stand-alone selling price of an item is highly variable, which management has observed and documented for the exhibition design (IFRS 15, para. 79).","es":""},"references":["REF.IFRS15.79"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000166","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000166","tested_point":"QST.IFRS15.000166","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §79","IFRS 15 §78"],"exercise":{"prompt":{"fr":"","en":"Néroval sells a sensor kit and a calibration service. Calibration is not sold separately, but several competitors offer an equivalent service at stable, known prices; Néroval also tracks its costs accurately. The controller proposes estimating the price of calibration using the residual approach, as it is the simplest method. What do you conclude?","es":""},"explanation":{"fr":"","en":"The residual approach is permitted only if the stand-alone selling price is highly variable, or uncertain because the entity has neither set a price nor sold the item separately (IFRS 15, para. 79). Here, stable market prices and tracked costs allow the adjusted market assessment approach or expected cost plus a margin to be used, maximising observable inputs (IFRS 15, para. 78). Choosing between these two methods is a matter of management judgement.","es":""},"common_error":{"fr":"","en":"Treating the residual approach as an easy method that is always available.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The residual approach is acceptable, since calibration is not sold separately.","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of separate sales is not enough: the residual approach requires a highly variable or uncertain price.","es":""}},{"id":"B","text":{"fr":"","en":"It is not suitable: the price is neither highly variable nor uncertain, another method is required.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No estimate is possible: calibration receives no share of the price.","es":""},"correct":false,"feedback":{"fr":"","en":"A stand-alone selling price must be estimated; each performance obligation receives a share of the price.","es":""}},{"id":"D","text":{"fr":"","en":"The choice is free: any simple method may be used for convenience.","es":""},"correct":false,"feedback":{"fr":"","en":"The estimate must maximise observable inputs and be consistent, not be chosen for convenience.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000167","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000167","tested_point":"QST.IFRS15.000167","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §78"],"exercise":{"prompt":{"fr":"","en":"Talmaride sells two ranges of energy audit services that are never sold separately, in comparable conditions. For the Habitat range, it estimates the stand-alone selling price using the adjusted market assessment approach based on observable competitor prices. For the Tertiaire range, where the same market data exist, it uses an undocumented internal cost that is more favourable to revenue for the period. What is your assessment?","es":""},"explanation":{"fr":"","en":"When a price is not directly observable, the entity estimates the stand-alone selling price so as to meet the allocation objective, considering all reasonably available information, maximising observable inputs and applying estimation methods consistently in similar circumstances (IFRS 15, para. 78). Using a different, undocumented method for a comparable situation, when market data exist, does not meet this requirement.","es":""},"common_error":{"fr":"","en":"Choosing the estimation method according to its effect on profit.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The estimate for the Tertiaire range must be revised to use observable inputs and a consistent method.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Both estimates are acceptable, as each range may follow the most favourable method.","es":""},"correct":false,"feedback":{"fr":"","en":"Seeking the most favourable result is not a criterion: methods must be applied consistently.","es":""}},{"id":"C","text":{"fr":"","en":"Only the price of the bundled contract may be used as the stand-alone selling price.","es":""},"correct":false,"feedback":{"fr":"","en":"The contract price may be evidence, but it does not replace the estimate of the stand-alone selling price.","es":""}},{"id":"D","text":{"fr":"","en":"Without separate sales, both ranges must receive a nil share of the price.","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of separate sales requires an estimate, not a nil share.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000168","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000168","tested_point":"QST.IFRS15.000168","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §80","IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"In a single contract, Ombrelune sells equipment with an observable, stable price and two consulting services whose stand-alone selling prices are both highly variable. How can it estimate the stand-alone selling prices of the two services?","es":""},"explanation":{"fr":"","en":"When several goods or services in a contract have highly variable or uncertain stand-alone selling prices, a combination of methods may be needed: the entity may estimate their aggregate price using the residual approach, then use another method to estimate the price of each one (IFRS 15, para. 80). The residual approach itself is permitted only for highly variable or uncertain prices (IFRS 15, para. 79).","es":""},"common_error":{"fr":"","en":"Believing that a single method must apply to the whole contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Apply the residual approach separately to each service, one after the other.","es":""},"correct":false,"feedback":{"fr":"","en":"A residual approach applied twice in a row makes no sense: the first service would absorb the whole balance.","es":""}},{"id":"B","text":{"fr":"","en":"Allocate the whole contract price to the equipment, as the services have no reliable price.","es":""},"correct":false,"feedback":{"fr":"","en":"Each performance obligation receives a share of the price; variable prices are estimated, not ignored.","es":""}},{"id":"C","text":{"fr":"","en":"Use for both services the lowest price observed on the market.","es":""},"correct":false,"feedback":{"fr":"","en":"Systematically choosing the lowest price is not an estimation method based on the allocation objective.","es":""}},{"id":"D","text":{"fr":"","en":"Estimate their aggregate price using the residual approach, then split it using another method.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000169","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000169","tested_point":"QST.IFRS15.000169","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §81"],"exercise":{"prompt":{"fr":"","en":"A contract includes a discount when the sum of the stand-alone selling prices of the promised goods or services exceeds the promised consideration; unless there is observable evidence to the contrary, that discount is allocated proportionately to all the performance obligations in the contract.","es":""},"explanation":{"fr":"","en":"The discount is measured as the excess of the sum of the stand-alone selling prices over the promised consideration. In principle, it is allocated proportionately to all the performance obligations, unless observable evidence shows that it relates only to some of them (IFRS 15, para. 81).","es":""},"common_error":{"fr":"","en":"Automatically charging the discount to the main item of the contract.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000170","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000404","tested_point":"VG.IFRS15.000404","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §81","IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Brumaire sells three products A, B and C in a single contract for {contract_price}. It regularly sells each of them separately, at {ssp_a}, {ssp_b} and {ssp_c} respectively, but never sells a bundle of some of these products at a discount. Each product is a distinct performance obligation. Compute the amount of the discount and the transaction price allocated to product C.","es":""},"explanation":{"fr":"","en":"The discount is the excess of the total stand-alone selling prices over the contract price: 20,000 + 30,000 + 50,000 − 85,000 = 15,000. No observable evidence links it to particular products; it is therefore allocated proportionately to all three (IFRS 15, para. 81). Product C: 85,000 × 50,000 / 100,000 = 42,500; A: 17,000; B: 25,500.","es":""},"common_error":{"fr":"","en":"Charging the whole discount to product C, the most expensive one.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"85000","unit":"EUR"},{"id":"ssp_a","value":"20000","unit":"EUR"},{"id":"ssp_b","value":"30000","unit":"EUR"},{"id":"ssp_c","value":"50000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Contract price","es":""},"value":"85000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of product A","es":""},"value":"20000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of product B","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of product C","es":""},"value":"50000","unit":"EUR"}],"steps":[{"id":"DISCOUNT","label":{"fr":"","en":"Discount in the contract","es":""},"answer":15000,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_C","label":{"fr":"","en":"Transaction price allocated to product C","es":""},"answer":42500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DISCOUNT","meaning":{"fr":"","en":"Discount in the contract","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stand-alone selling price of product A","es":""},"value":20000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of product B","es":""},"value":30000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of product C","es":""},"value":50000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Contract price","es":""},"value":85000,"unit":"EUR"}],"result":15000,"unit":"EUR"}],"references":["REF.IFRS15.81"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000171","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000404","tested_point":"VG.IFRS15.000404","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §81"],"exercise":{"prompt":{"fr":"","en":"The digital agency Pervenche offers a craftsman the creation of a website and its hosting for two years for a package price of {package_price}. Sold separately, hosting is charged {ssp_hosting} and website creation {ssp_website}, which are their stand-alone selling prices. Nothing indicates that the reduction concerns one of the two performance obligations rather than the other. Compute the discount and the transaction price allocated to the website creation.","es":""},"explanation":{"fr":"","en":"Discount: 12,000 + 28,000 − 36,000 = 4,000. Without observable evidence linking it to a single obligation, it is allocated proportionately (IFRS 15, para. 81). Website creation: 36,000 × 28,000 / 40,000 = 25,200; hosting: 10,800.","es":""},"common_error":{"fr":"","en":"Charging the whole discount to hosting, presented as a commercial gesture.","es":""},"format":"CALCULATION","placeholders":[{"id":"package_price","value":"36000","unit":"EUR"},{"id":"ssp_hosting","value":"12000","unit":"EUR"},{"id":"ssp_website","value":"28000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Package price","es":""},"value":"36000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of hosting","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of website creation","es":""},"value":"28000","unit":"EUR"}],"steps":[{"id":"DISCOUNT","label":{"fr":"","en":"Discount in the contract","es":""},"answer":4000,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_WEBSITE","label":{"fr":"","en":"Transaction price allocated to website creation","es":""},"answer":25200,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"DISCOUNT","meaning":{"fr":"","en":"Discount in the contract","es":""},"expression":"a + b - c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stand-alone selling price of hosting","es":""},"value":12000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of website creation","es":""},"value":28000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Package price","es":""},"value":36000,"unit":"EUR"}],"result":4000,"unit":"EUR"}],"rationale":{"fr":"","en":"Without observable evidence linking it to a single obligation, it is allocated proportionately (IFRS 15, para. 81).","es":""},"references":["REF.IFRS15.81"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000172","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000405","tested_point":"VG.IFRS15.000405","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §82","IFRS 15 §81"],"exercise":{"prompt":{"fr":"","en":"Givrane sells three products X, Y and Z for {contract_price}, each being a distinct performance obligation. It regularly sells each product separately: X at {ssp_x}, Y at {ssp_y} and Z at {ssp_z}. It also regularly sells the bundle Y + Z at a price of {bundle_yz_price}. Compute the transaction price allocated to product X and that allocated to Y and Z together.","es":""},"explanation":{"fr":"","en":"Discount in the contract: 40,000 + 24,000 + 36,000 − 90,000 = 10,000. The bundle Y + Z is regularly sold at a discount of 24,000 + 36,000 − 50,000 = 10,000, the same as in the contract, and each product is regularly sold on its own: these facts provide observable evidence that the discount relates entirely to Y and Z (IFRS 15, para. 82). X therefore receives its stand-alone selling price, 40,000, and Y and Z together receive 50,000. A proportionate allocation, applicable by default (IFRS 15, para. 81), would have given 36,000 to X.","es":""},"common_error":{"fr":"","en":"Allocating the discount proportionately to the three products despite the observable evidence.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"90000","unit":"EUR"},{"id":"ssp_x","value":"40000","unit":"EUR"},{"id":"ssp_y","value":"24000","unit":"EUR"},{"id":"ssp_z","value":"36000","unit":"EUR"},{"id":"bundle_yz_price","value":"50000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Contract price","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of product X","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of product Y","es":""},"value":"24000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of product Z","es":""},"value":"36000","unit":"EUR"},{"label":{"fr":"","en":"Usual price of the bundle Y + Z","es":""},"value":"50000","unit":"EUR"}],"steps":[{"id":"ALLOCATED_X","label":{"fr":"","en":"Transaction price allocated to product X","es":""},"answer":40000,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_YZ","label":{"fr":"","en":"Transaction price allocated to Y and Z together","es":""},"answer":50000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000173","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000405","tested_point":"VG.IFRS15.000405","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §82"],"exercise":{"prompt":{"fr":"","en":"The furniture maker Ardoisine receives an order from a school for {order_price} covering desks, chairs and cabinets, three distinct performance obligations. Ardoisine commonly sells each category separately, at stand-alone selling prices of {ssp_desks} for the desks, {ssp_chairs} for the chairs and {ssp_cabinets} for the cabinets. It also permanently offers, and regularly sells, a chairs + cabinets package at {pack_price}. Determine the transaction price allocated to the desks and that allocated to the chairs and cabinets together.","es":""},"explanation":{"fr":"","en":"Discount in the order: 15,000 + 45,000 + 40,000 − 85,000 = 15,000. The chairs + cabinets package, regularly sold, carries a discount of 45,000 + 40,000 − 70,000 = 15,000, the same amount; as each category is also regularly sold on its own, the discount relates observably to the chairs and cabinets and is allocated entirely to them (IFRS 15, para. 82). Desks: 15,000; chairs and cabinets: 70,000.","es":""},"common_error":{"fr":"","en":"Allocating the discount proportionately: the desks would then receive 12,750.","es":""},"format":"CALCULATION","placeholders":[{"id":"order_price","value":"85000","unit":"EUR"},{"id":"ssp_desks","value":"15000","unit":"EUR"},{"id":"ssp_chairs","value":"45000","unit":"EUR"},{"id":"ssp_cabinets","value":"40000","unit":"EUR"},{"id":"pack_price","value":"70000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Order price","es":""},"value":"85000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the desks","es":""},"value":"15000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the chairs","es":""},"value":"45000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the cabinets","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Usual price of the chairs + cabinets package","es":""},"value":"70000","unit":"EUR"}],"steps":[{"id":"ALLOCATED_DESKS","label":{"fr":"","en":"Transaction price allocated to the desks","es":""},"answer":15000,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_PACK","label":{"fr":"","en":"Transaction price allocated to the chairs and cabinets together","es":""},"answer":70000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALLOCATED_DESKS","meaning":{"fr":"","en":"Transaction price allocated to the desks","es":""},"expression":"a + b + c - d","variables":[{"symbol":"a","meaning":{"fr":"","en":"Stand-alone selling price of the desks","es":""},"value":15000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the chairs","es":""},"value":45000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the cabinets","es":""},"value":40000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Order price","es":""},"value":85000,"unit":"EUR"}],"result":15000,"unit":"EUR"}],"references":["REF.IFRS15.82"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000174","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000174","tested_point":"QST.IFRS15.000174","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §82"],"exercise":{"prompt":{"fr":"","en":"Lunesse wishes to allocate an entire discount to two of the four performance obligations in a contract. Which conditions must be met?","es":""},"explanation":{"fr":"","en":"The discount is allocated entirely to one or more, but not all, obligations only if three conditions are met: the entity regularly sells each good or service (or bundle) in the contract separately; it also regularly sells separately a bundle of some of those items at a discount; and that discount is substantially the same as the one in the contract, the analysis providing observable evidence of the obligation to which it belongs (IFRS 15, para. 82). Management's profitability view or the presentation of the invoice are not observable evidence.","es":""},"common_error":{"fr":"","en":"Allocating the discount according to the invoice presentation or assumed profitability.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Management considers, without other evidence, that these two items are the least profitable.","es":""},"correct":false,"feedback":{"fr":"","en":"An unsupported internal assessment is not observable evidence.","es":""}},{"id":"B","text":{"fr":"","en":"Lunesse regularly sells each of the goods or services in the contract separately.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The customer asked for the discount to appear on the invoice for these two items.","es":""},"correct":false,"feedback":{"fr":"","en":"The presentation of the invoice does not prove to which obligation the discount relates.","es":""}},{"id":"D","text":{"fr":"","en":"Lunesse also regularly sells these two items together at a discount.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"That usual discount is substantially the same as the discount in the contract.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000175","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000175","tested_point":"QST.IFRS15.000175","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §83","IFRS 15 §82","IFRS 15 §79"],"exercise":{"prompt":{"fr":"","en":"Fennelor sells three items A, B and C, distinct performance obligations, for 100,000. A and B are regularly sold on their own, at 40,000 and 30,000, and regularly together at 60,000; the conditions for allocating that discount of 10,000 to the bundle A + B alone are met (case data). The stand-alone selling price of C, sold to different customers for highly variable amounts, is estimated using the residual approach. What is the estimated stand-alone selling price of C?","es":""},"explanation":{"fr":"","en":"When a discount is allocated entirely to some obligations, the entity allocates it before using the residual approach (IFRS 15, para. 83). As the discount of 10,000 relates to the bundle A + B (IFRS 15, para. 82), the highly variable stand-alone selling price of C is estimated as a difference: 100,000 − 60,000 = 40,000 (IFRS 15, para. 79).","es":""},"common_error":{"fr":"","en":"Applying the residual approach to the prices before the discount and making C bear the discount.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"30,000, deducting from 100,000 the prices of A and B before the discount.","es":""},"correct":false,"feedback":{"fr":"","en":"This calculation applies the residual approach before allocating the discount, which the standard rules out: C would wrongly absorb the discount.","es":""}},{"id":"B","text":{"fr":"","en":"40,000, deducting from 100,000 the price of the bundle A + B after the discount.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"None: the residual approach is always excluded whenever the contract includes a discount.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard specifically sets the order between the discount and the residual approach; it does not prohibit it.","es":""}},{"id":"D","text":{"fr":"","en":"60,000, being the price of the bundle A + B.","es":""},"correct":false,"feedback":{"fr":"","en":"60,000 is the price allocated to A + B, not the estimate of the price of C.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000176","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000176","tested_point":"QST.IFRS15.000176","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §84"],"exercise":{"prompt":{"fr":"","en":"Maraudine signs a contract for office cleaning and lift maintenance services, two performance obligations. A variable bonus relates to the lift maintenance alone. Which statement is correct?","es":""},"explanation":{"fr":"","en":"Variable consideration may relate to the entire contract or only to a part of it: one or more performance obligations, or one or more distinct goods or services in a series forming a single obligation (IFRS 15, para. 84). The entity must therefore analyse what the bonus relates to before allocating it.","es":""},"common_error":{"fr":"","en":"Mechanically allocating any variable consideration to all obligations without analysing what it relates to.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Variable consideration always relates to the contract as a whole.","es":""},"correct":false,"feedback":{"fr":"","en":"Variable consideration may also concern only part of the contract.","es":""}},{"id":"B","text":{"fr":"","en":"Variable consideration can only concern a contract with a single obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing limits variable consideration to contracts with a single obligation.","es":""}},{"id":"C","text":{"fr":"","en":"It may relate to the entire contract or to only a part of it.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A variable bonus must be excluded from the transaction price when there are several obligations.","es":""},"correct":false,"feedback":{"fr":"","en":"Having several obligations does not exclude variable consideration from the transaction price.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000177","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000177","tested_point":"QST.IFRS15.000177","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §86","IFRS 15 §84"],"exercise":{"prompt":{"fr":"","en":"Eskelor has allocated a variable bonus entirely to one of the performance obligations in a contract, the conditions set by the standard being met (case data). The remainder of the transaction price, which does not meet those conditions, is allocated using the general allocation requirements, including those on discounts.","es":""},"explanation":{"fr":"","en":"The part of the transaction price that does not meet the conditions for specific allocation is allocated using the general requirements (IFRS 15, para. 86), that is on a relative stand-alone selling price basis, with the requirements on discounts. Variable consideration may indeed concern only part of the contract (IFRS 15, para. 84).","es":""},"common_error":{"fr":"","en":"Also allocating the remainder of the price to the obligation that received the variable bonus.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000178","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000178","tested_point":"QST.IFRS15.000178","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §87"],"exercise":{"prompt":{"fr":"","en":"Once set at contract inception, the transaction price can no longer change, except through a contract modification approved by the parties.","es":""},"explanation":{"fr":"","en":"After contract inception, the transaction price can change for various reasons, including the resolution of uncertain events or other changes in circumstances that change the amount of consideration to which the entity expects to be entitled (IFRS 15, para. 87). A contract modification is therefore not the only possible cause.","es":""},"common_error":{"fr":"","en":"Freezing the initial transaction price until the end of the contract.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000179","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.TRANSACTION_PRICE.DETERMINATION","IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000179","tested_point":"QST.IFRS15.000179","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"transaction-price"},"references":["IFRS 15 §87","IFRS 15 §90","IFRS 15 §47"],"exercise":{"prompt":{"fr":"","en":"During an industrial maintenance contract, Orvanel observes several events. Which of them may change the transaction price?","es":""},"explanation":{"fr":"","en":"The transaction price can change after contract inception, including on the resolution of uncertain events or other changes in circumstances that alter the consideration to which the entity expects to be entitled (IFRS 15, para. 87). A price change resulting from a contract modification is accounted for under the requirements on modifications (IFRS 15, para. 90). By contrast, invoicing or collecting amounts already provided for does not change the consideration to which the entity is entitled, which defines the transaction price (IFRS 15, para. 47).","es":""},"common_error":{"fr":"","en":"Confusing the invoicing or collection schedule with a change in the transaction price.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Issuing an advance invoice provided for from the outset in the contract's billing schedule.","es":""},"correct":false,"feedback":{"fr":"","en":"Invoicing an advance already provided for does not change the expected consideration.","es":""}},{"id":"B","text":{"fr":"","en":"The resolution of an uncertainty about an equipment availability bonus.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A change in circumstances altering the consideration to which Orvanel expects to be entitled.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Collecting part of the consideration already provided for in the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"Collecting part of the agreed price does not change the expected amount.","es":""}},{"id":"E","text":{"fr":"","en":"A contract modification approved by the parties that changes its price.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000180","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000180","tested_point":"QST.IFRS15.000180","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §90","IFRS 15 §18"],"exercise":{"prompt":{"fr":"","en":"Cendrine and its customer approve an amendment that adds services and increases the contract price. How does Cendrine account for the resulting change in the transaction price?","es":""},"explanation":{"fr":"","en":"A change in the transaction price that results from a contract modification is accounted for under the requirements on contract modifications (IFRS 15, para. 90). An amendment approved by the parties that changes the scope and price is a contract modification (IFRS 15, para. 18); the entity must then determine whether it is a separate contract or not.","es":""},"common_error":{"fr":"","en":"Treating every price change as variable consideration.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Under the requirements on contract modifications.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As a mere revision of a variable consideration estimate, with no further analysis.","es":""},"correct":false,"feedback":{"fr":"","en":"A contract modification calls for the analysis required for modifications, not a mere revision of an estimate.","es":""}},{"id":"C","text":{"fr":"","en":"It ignores it until the end of the original contract.","es":""},"correct":false,"feedback":{"fr":"","en":"An approved modification must be taken into account as soon as it is approved.","es":""}},{"id":"D","text":{"fr":"","en":"It recognises it immediately and in full as revenue, whatever the performance.","es":""},"correct":false,"feedback":{"fr":"","en":"Signing the amendment does not remove the need to apply the requirements on modifications; nothing justifies recognising the whole change immediately.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000181","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000406","tested_point":"VG.IFRS15.000406","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §87","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"Valdrène builds a footbridge for a fixed price of {fixed_price}, with a bonus of {bonus} if the structure is delivered before an agreed date. At inception, Valdrène excluded the bonus from the transaction price, as its assessment of the constraint on variable consideration did not allow it to be included (case data). Six months later, early delivery is certain and the bonus is earned. Compute the change in the transaction price and the revised transaction price.","es":""},"explanation":{"fr":"","en":"The bonus had been excluded at inception under the constraint (IFRS 15, para. 56), based on the entity's assessment. The resolution of the uncertainty changes the expected consideration: the transaction price changes after contract inception (IFRS 15, para. 87). Change: + 30,000; revised price: 200,000 + 30,000 = 230,000.","es":""},"common_error":{"fr":"","en":"Leaving the transaction price unchanged until the end of the contract.","es":""},"format":"CALCULATION","placeholders":[{"id":"fixed_price","value":"200000","unit":"EUR"},{"id":"bonus","value":"30000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Fixed contract price","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Early delivery bonus","es":""},"value":"30000","unit":"EUR"}],"steps":[{"id":"PRICE_CHANGE","label":{"fr":"","en":"Change in the transaction price","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"REVISED_TRANSACTION_PRICE","label":{"fr":"","en":"Revised transaction price","es":""},"answer":230000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVISED_TRANSACTION_PRICE","meaning":{"fr":"","en":"Revised transaction price","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Fixed contract price","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Early delivery bonus","es":""},"value":30000,"unit":"EUR"}],"result":230000,"unit":"EUR"}],"rationale":{"fr":"","en":"The bonus had been excluded at inception under the constraint (IFRS 15, para. 56), based on the entity's assessment.","es":""},"references":["REF.IFRS15.87","REF.IFRS15.56"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000182","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000406","tested_point":"VG.IFRS15.000406","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §87","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"The firm Solvarine manages the energy renovation of a building for a fixed fee of {fixed_fee}, plus an energy savings incentive capped at {max_incentive}. At inception, Solvarine included {initial_estimate} for the incentive in the transaction price, an amount it then considered highly probable not to have to reverse (case data). The final measurements set the incentive at {final_incentive}. Compute the change in the transaction price and the revised transaction price.","es":""},"explanation":{"fr":"","en":"At inception, only the part of the incentive meeting the constraint had been included (IFRS 15, para. 56), i.e. 10,000 based on the entity's assessment. The resolution of the uncertainty changes the expected consideration and therefore the transaction price (IFRS 15, para. 87). Change: 18,000 − 10,000 = 8,000; revised price: 150,000 + 18,000 = 168,000. The cap of 25,000 plays no role.","es":""},"common_error":{"fr":"","en":"Using a change of 18,000, forgetting the 10,000 already included.","es":""},"format":"CALCULATION","placeholders":[{"id":"fixed_fee","value":"150000","unit":"EUR"},{"id":"max_incentive","value":"25000","unit":"EUR"},{"id":"initial_estimate","value":"10000","unit":"EUR"},{"id":"final_incentive","value":"18000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Fixed fee","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Maximum incentive","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Incentive initially included in the transaction price","es":""},"value":"10000","unit":"EUR"},{"label":{"fr":"","en":"Incentive finally earned","es":""},"value":"18000","unit":"EUR"}],"steps":[{"id":"PRICE_CHANGE","label":{"fr":"","en":"Change in the transaction price","es":""},"answer":8000,"tolerance":0,"unit":"EUR"},{"id":"REVISED_TRANSACTION_PRICE","label":{"fr":"","en":"Revised transaction price","es":""},"answer":168000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PRICE_CHANGE","meaning":{"fr":"","en":"Change in the transaction price","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Incentive finally earned","es":""},"value":18000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Incentive initially included in the transaction price","es":""},"value":10000,"unit":"EUR"}],"result":8000,"unit":"EUR"},{"step":"REVISED_TRANSACTION_PRICE","meaning":{"fr":"","en":"Revised transaction price","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Fixed fee","es":""},"value":150000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Incentive finally earned","es":""},"value":18000,"unit":"EUR"}],"result":168000,"unit":"EUR"}],"rationale":{"fr":"","en":"At inception, only the part of the incentive meeting the constraint had been included (IFRS 15, para. 56), i.e. 10,000 based on the entity's assessment.","es":""},"references":["REF.IFRS15.87","REF.IFRS15.56"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000183","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.CONTRACT.MODIFICATIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000183","tested_point":"QST.IFRS15.000183","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §90","IFRS 15 §21"],"exercise":{"prompt":{"fr":"","en":"Azurine's contract included a variable bonus from the outset. A modification, which is not a separate contract, was then accounted for as the termination of the existing contract and the creation of a new contract, the remaining goods being distinct from those already transferred. After that modification, the uncertainty about the bonus promised before the modification is resolved. To which performance obligations does Azurine allocate the price change?","es":""},"explanation":{"fr":"","en":"When a price change arises after a modification, results from variable consideration promised before it, and the modification was accounted for as the termination of the existing contract and the creation of a new contract (IFRS 15, para. 21), the change is allocated to the performance obligations identified before the modification (IFRS 15, para. 90). In the other cases where the modification is not a separate contract, the change is allocated to the obligations of the modified contract.","es":""},"common_error":{"fr":"","en":"Allocating the change to the obligations of the modified contract whatever the accounting for the modification.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only to the unsatisfied obligations of the modified contract.","es":""},"correct":false,"feedback":{"fr":"","en":"This answer applies in the other cases of a modification not treated as a separate contract, not in the one described.","es":""}},{"id":"B","text":{"fr":"","en":"To the obligations identified before the modification.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"To all the obligations, original and added, in equal shares.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard links the change to a specific set of obligations depending on how the modification was accounted for; an equal split has no basis.","es":""}},{"id":"D","text":{"fr":"","en":"Only to the obligations added by the modification.","es":""},"correct":false,"feedback":{"fr":"","en":"The added obligations are not concerned by a bonus promised before the modification.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000184","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000184","tested_point":"QST.IFRS15.000184","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §31"],"exercise":{"prompt":{"fr":"","en":"Revenue from a contract is recognised as soon as it is signed, since the customer has committed to pay.","es":""},"explanation":{"fr":"","en":"Revenue is recognised when (or as) the entity satisfies a performance obligation by transferring a promised good or service to the customer; that transfer occurs when (or as) the customer obtains control of the asset (IFRS 15, para. 31). Signing the contract transfers nothing by itself.","es":""},"common_error":{"fr":"","en":"Recognising revenue on signature or on invoicing.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000185","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000185","tested_point":"QST.IFRS15.000185","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §33"],"exercise":{"prompt":{"fr":"","en":"Control of an asset includes the ability to prevent other entities from directing its use and obtaining its benefits.","es":""},"explanation":{"fr":"","en":"Control is the ability to direct the use of the asset and obtain substantially all of the remaining benefits from it, which includes the ability to prevent other entities from doing so (IFRS 15, para. 33).","es":""},"common_error":{"fr":"","en":"Reducing control to the right to use the asset.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000186","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000186","tested_point":"QST.IFRS15.000186","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §33"],"exercise":{"prompt":{"fr":"","en":"Under IFRS 15, what characterises a customer having control of an asset?","es":""},"explanation":{"fr":"","en":"Control of an asset is the ability to direct its use and obtain substantially all of the remaining benefits from it, including by preventing other entities from doing so; the benefits are the potential cash flows obtained through using, consuming, selling, exchanging, pledging or holding the asset (IFRS 15, para. 33).","es":""},"common_error":{"fr":"","en":"Equating control with payment of the price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The customer has signed the purchase order and accepted the general terms of sale.","es":""},"correct":false,"feedback":{"fr":"","en":"Signing an order creates a commitment, it does not give command over the asset.","es":""}},{"id":"B","text":{"fr":"","en":"It can direct the asset's use and obtain substantially all of the remaining benefits from it.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The customer has paid the whole agreed price, whatever the delivery date of the good.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment is not the definition of control; the customer may pay before or after obtaining it.","es":""}},{"id":"D","text":{"fr":"","en":"The customer has been informed in writing of the expected date the good will be made available.","es":""},"correct":false,"feedback":{"fr":"","en":"Information on the availability date gives no command over the asset.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000187","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000187","tested_point":"QST.IFRS15.000187","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §32"],"exercise":{"prompt":{"fr":"","en":"A performance obligation that meets none of the criteria for recognition over time is satisfied at a point in time.","es":""},"explanation":{"fr":"","en":"For each performance obligation, the entity determines at contract inception whether it is satisfied over time; if no criterion is met, the obligation is satisfied at a point in time (IFRS 15, para. 32).","es":""},"common_error":{"fr":"","en":"Considering that recognition over time is the rule and the point in time the exception.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000188","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000188","tested_point":"QST.IFRS15.000188","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §32"],"exercise":{"prompt":{"fr":"","en":"Primevère enters into a contract for custom manufacturing. When must it determine whether the performance obligation is satisfied over time or at a point in time?","es":""},"explanation":{"fr":"","en":"For each performance obligation, the entity determines at contract inception whether it will satisfy it over time or at a point in time (IFRS 15, para. 32). That analysis then drives the whole pattern of revenue recognition.","es":""},"common_error":{"fr":"","en":"Deferring the analysis until delivery.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On delivery, when the customer takes possession of the manufactured good.","es":""},"correct":false,"feedback":{"fr":"","en":"Waiting for delivery would amount to presuming recognition at a point in time.","es":""}},{"id":"B","text":{"fr":"","en":"At the first reporting date after manufacturing begins.","es":""},"correct":false,"feedback":{"fr":"","en":"The analysis is not deferred to the reporting date: it is made at contract inception.","es":""}},{"id":"C","text":{"fr":"","en":"When the costs incurred reach half of the expected costs.","es":""},"correct":false,"feedback":{"fr":"","en":"No progress threshold triggers this analysis.","es":""}},{"id":"D","text":{"fr":"","en":"At contract inception.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000189","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000189","tested_point":"QST.IFRS15.000189","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §35","IFRS 15 §B2"],"exercise":{"prompt":{"fr":"","en":"Which of the following situations each constitute, on their own, a criterion for recognising revenue over time?","es":""},"explanation":{"fr":"","en":"Revenue is recognised over time if one of three criteria is met: the customer simultaneously receives and consumes the benefits; the performance creates or enhances an asset controlled by the customer; or it creates an asset with no alternative use to the entity together with an enforceable right to payment for performance completed to date (IFRS 15, para. 35). The application guidance restates these three criteria and refers to the guidance on each one (IFRS 15, para. B2). An advance or the transfer of legal title are not criteria for recognition over time.","es":""},"common_error":{"fr":"","en":"Relying on the absence of alternative use without checking the enforceable right to payment.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The customer paid a large advance on signature.","es":""},"correct":false,"feedback":{"fr":"","en":"The payment schedule does not by itself determine the pattern of transfer of control.","es":""}},{"id":"B","text":{"fr":"","en":"The customer simultaneously receives and consumes the benefits of the entity's performance as it performs.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Legal title to the good is transferred to the customer on delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"Transfer of legal title is not one of the three criteria for recognition over time.","es":""}},{"id":"D","text":{"fr":"","en":"The performance creates or enhances an asset that the customer controls as it is created or enhanced.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The performance creates an asset with no alternative use to the entity, which has an enforceable right to payment for performance completed to date.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000190","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000190","tested_point":"QST.IFRS15.000190","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §35","IFRS 15 §B3"],"exercise":{"prompt":{"fr":"","en":"Nettalis cleans a customer's offices every evening for one year. How should its performance obligation be characterised?","es":""},"explanation":{"fr":"","en":"For routine or recurring services such as cleaning, it is clear that the customer receives and consumes the benefit as the service is performed (IFRS 15, para. B3), which meets the first criterion for recognition over time (IFRS 15, para. 35).","es":""},"common_error":{"fr":"","en":"Trying to apply the third criterion to a service consumed as it is provided.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Satisfied over time: the customer receives and consumes the benefit of the cleaning as it is performed.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Satisfied at a point in time, at the end of the year of service.","es":""},"correct":false,"feedback":{"fr":"","en":"The customer benefits from the cleaning every evening: nothing justifies waiting for the end of the year.","es":""}},{"id":"C","text":{"fr":"","en":"Satisfied over time only if the contract provides a right to payment on termination.","es":""},"correct":false,"feedback":{"fr":"","en":"The right to payment concerns only the third criterion; the first is enough here.","es":""}},{"id":"D","text":{"fr":"","en":"Satisfied at a point in time, at each monthly invoice.","es":""},"correct":false,"feedback":{"fr":"","en":"Invoicing does not determine when control is transferred.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000191","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000191","tested_point":"QST.IFRS15.000191","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §35","IFRS 15 §32"],"exercise":{"prompt":{"fr":"","en":"Fergane manufactures in its plant a machine designed for a single customer, with no alternative use to it. The contract gives it no right to payment if the customer terminates before delivery. It is accepted (case data) that the customer neither receives nor consumes any benefit during manufacture and does not control the machine while it is being built. What conclusion should be reached?","es":""},"explanation":{"fr":"","en":"The third criterion for recognition over time requires two cumulative conditions: an asset with no alternative use to the entity and an enforceable right to payment for performance completed to date (IFRS 15, para. 35). Without a right to payment, and as the other two criteria are not met, the obligation is satisfied at a point in time (IFRS 15, para. 32).","es":""},"common_error":{"fr":"","en":"Concluding on recognition over time for a specific good without an enforceable right to payment.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognition over time, since the machine has no alternative use to Fergane.","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of alternative use is not enough: the enforceable right to payment is missing.","es":""}},{"id":"B","text":{"fr":"","en":"Obligation satisfied at a point in time: the third criterion also requires a right to payment.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Recognition over time, as manufacturing progresses each month in the plant.","es":""},"correct":false,"feedback":{"fr":"","en":"The physical progress of manufacture does not replace the criteria of the standard.","es":""}},{"id":"D","text":{"fr":"","en":"Fergane may choose either method, as this is an accounting policy choice.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not a choice: the standard sets the treatment according to whether the criteria are met.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000192","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000192","tested_point":"QST.IFRS15.000192","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B5","IFRS 15 §35"],"exercise":{"prompt":{"fr":"","en":"To assess whether the performance creates or enhances an asset controlled by the customer, the asset concerned may be tangible or intangible, for example work in progress.","es":""},"explanation":{"fr":"","en":"For the second criterion for recognition over time (IFRS 15, para. 35), the entity applies the control principles to the asset being created or enhanced, which may be tangible or intangible, such as work in progress (IFRS 15, para. B5).","es":""},"common_error":{"fr":"","en":"Limiting the second criterion to physical constructions.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000193","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000193","tested_point":"QST.IFRS15.000193","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B4","IFRS 15 §35"],"exercise":{"prompt":{"fr":"","en":"The carrier Routhéa transports a customer's goods by truck over a 1,200 km route. The contract prohibits any subcontracting. If another carrier had to take over the route halfway, it would not need to repeat the first half of the journey. How should Routhéa's performance obligation be analysed?","es":""},"explanation":{"fr":"","en":"When the analysis is not obvious, the first criterion is met if another entity taking over the remaining performance would not need to substantially re-perform the work completed to date; for this test, contractual or practical limitations on such a transfer are disregarded (IFRS 15, para. B4). The first criterion for recognition over time is therefore met (IFRS 15, para. 35).","es":""},"common_error":{"fr":"","en":"Discarding the takeover test because the contract prohibits subcontracting.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Satisfied on delivery, as the customer benefits from the transport only on arrival.","es":""},"correct":false,"feedback":{"fr":"","en":"The takeover test shows that the work done already benefits the customer: there is no need to wait for arrival.","es":""}},{"id":"B","text":{"fr":"","en":"Satisfied over time, under the no alternative use criterion.","es":""},"correct":false,"feedback":{"fr":"","en":"The relevant criterion is simultaneous receipt and consumption, not the no alternative use criterion.","es":""}},{"id":"C","text":{"fr":"","en":"Satisfied over time: the customer receives and consumes the benefit of the transport as it is performed.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Impossible to assess with this test, as subcontracting is prohibited by a clause of the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"The test specifically disregards contractual limitations such as the prohibition on subcontracting.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000194","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000194","tested_point":"QST.IFRS15.000194","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §35","IFRS 15 §B5"],"exercise":{"prompt":{"fr":"","en":"Bâtisseurs de Lirac extends a customer's factory on the customer's land. After analysis (case data), the customer controls the extension as it is built: it can change its design, deny third parties access to it and obtain its benefits, the part built belonging to it as construction proceeds. How should revenue be recognised?","es":""},"explanation":{"fr":"","en":"Revenue is recognised over time when the performance creates or enhances an asset that the customer controls as it is created or enhanced (IFRS 15, para. 35). The entity applies the control principles to the asset under construction, here work in progress on the customer's land (IFRS 15, para. B5). As the three criteria are alternatives, there is no need to examine the third.","es":""},"common_error":{"fr":"","en":"Requiring the criteria for recognition over time to be met cumulatively.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On final acceptance of the extension, when the keys are handed over.","es":""},"correct":false,"feedback":{"fr":"","en":"The customer already controls the asset as it is built: waiting for acceptance would wrongly defer revenue.","es":""}},{"id":"B","text":{"fr":"","en":"Over time, as the performance enhances an asset that the customer controls as it is enhanced.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Over time, but only if the extension has no alternative use and a right to payment exists.","es":""},"correct":false,"feedback":{"fr":"","en":"The criteria are alternatives: the second is enough, without examining the third.","es":""}},{"id":"D","text":{"fr":"","en":"As progress billings are invoiced to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Progress billing does not determine the transfer of control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000195","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000195","tested_point":"QST.IFRS15.000195","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §36"],"exercise":{"prompt":{"fr":"","en":"The assessment of whether an asset has no alternative use to the entity is performed again at each reporting date, to reflect market developments.","es":""},"explanation":{"fr":"","en":"An asset has no alternative use to the entity if the entity is contractually restricted from readily directing it to another use during its creation or enhancement, or practically limited from doing so once completed. This assessment is made at contract inception and is revisited only if an approved contract modification substantively changes the performance obligation (IFRS 15, para. 36).","es":""},"common_error":{"fr":"","en":"Revising the assessment at each reporting date according to market developments.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000196","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000196","tested_point":"QST.IFRS15.000196","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Cassiopée manufactures equipment under a firm contract. Its internal auditor argues that the equipment has an alternative use, since if the customer terminated the contract, Cassiopée could sell it to someone else. Which principle applies?","es":""},"explanation":{"fr":"","en":"To judge whether an asset has an alternative use to the entity, the entity considers the contractual restrictions and practical limitations on readily directing it to another use, for example by selling it to another customer; the possibility of the contract being terminated is not relevant (IFRS 15, para. B6).","es":""},"common_error":{"fr":"","en":"Concluding on an alternative use by imagining the termination of the contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The argument is valid: the mere possibility of termination is enough to establish an alternative use.","es":""},"correct":false,"feedback":{"fr":"","en":"Reasoning on a hypothetical termination is precisely what the standard excludes.","es":""}},{"id":"B","text":{"fr":"","en":"The possibility of termination is not considered; only restrictions and limitations on redirecting the asset matter.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The assessment depends on the probability of termination estimated by management.","es":""},"correct":false,"feedback":{"fr":"","en":"The probability of termination plays no role: the very possibility of termination is disregarded.","es":""}},{"id":"D","text":{"fr":"","en":"Alternative use is assessed solely on the basis of the physical stage of completion of the equipment.","es":""},"correct":false,"feedback":{"fr":"","en":"The assessment concerns contractual restrictions and practical limitations, not physical progress alone.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000197","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000197","tested_point":"QST.IFRS15.000197","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15","IFRS 15 §35"],"exercise":{"prompt":{"fr":"","en":"Pompéa mass-produces standard pumps. A contract assigns to a customer 50 pumps identified by their serial numbers, but Pompéa can deliver other identical pumps from its stock to that customer without breaching the contract or incurring significant additional costs. The contract provides a right to payment on termination. It is accepted (case data) that the first two criteria for recognition over time are not met. What do you conclude?","es":""},"explanation":{"fr":"","en":"A contractual restriction prevents alternative use only if it is substantive, that is if the customer could enforce its rights to the promised asset if the entity redirected it; it is not substantive when the asset is largely interchangeable with other assets that could be transferred to another customer without breaching the contract or incurring significant additional costs (IFRS 15, para. B7). The pumps therefore have an alternative use and the third criterion is not met (IFRS 15, para. 35), even with a right to payment.","es":""},"common_error":{"fr":"","en":"Treating a purely formal restriction as evidence of no alternative use.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognition over time: assigning serial numbers prevents any redirection.","es":""},"correct":false,"feedback":{"fr":"","en":"A formal assignment of serial numbers is not a substantive restriction if the pumps are interchangeable.","es":""}},{"id":"B","text":{"fr":"","en":"Recognition over time: the right to payment on termination is enough on its own.","es":""},"correct":false,"feedback":{"fr":"","en":"The right to payment is not enough: the asset must also have no alternative use.","es":""}},{"id":"C","text":{"fr":"","en":"The restriction is not substantive: the pumps have an alternative use, revenue is recognised at a point in time.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The analysis must focus on the contract margin, which alone determines alternative use.","es":""},"correct":false,"feedback":{"fr":"","en":"The contract margin is not the criterion for alternative use.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000198","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000198","tested_point":"QST.IFRS15.000198","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B8","IFRS 15 §35","IFRS 15 §37","IFRS 15 §B9"],"exercise":{"prompt":{"fr":"","en":"The Haliane shipyard builds a polar research vessel to specifications unique to a scientific institute. To sell it to another buyer, it would have to be reworked at great cost or sold at a significant loss. The contract gives Haliane, at all times, if the institute terminates for reasons other than Haliane's failure to perform, the right to recover the costs incurred plus a reasonable margin (an enforceable right according to a legal opinion, case data). How should revenue be recognised?","es":""},"explanation":{"fr":"","en":"A practical limitation on redirecting an asset exists when the entity would incur significant economic losses to direct the asset to another use, because of significant rework costs or because it could be sold only at a significant loss, notably for assets with customer-specific specifications (IFRS 15, para. B8). The vessel therefore has no alternative use to Haliane. The enforceable right to recover, at all times, the costs incurred plus a reasonable margin if the customer terminates (IFRS 15, paras. 37 and B9) completes the third criterion: the obligation is satisfied over time (IFRS 15, para. 35).","es":""},"common_error":{"fr":"","en":"Considering that an asset has an alternative use whenever it could be redirected at a significant loss.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Over time: no alternative use due to a practical limitation, and an enforceable right to payment.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"On delivery: the vessel could always be resold, even at a loss, so it has an alternative use.","es":""},"correct":false,"feedback":{"fr":"","en":"A resale possible only at a significant loss is, on the contrary, what characterises the absence of alternative use.","es":""}},{"id":"C","text":{"fr":"","en":"On delivery: the contract contains no clause prohibiting resale of the vessel.","es":""},"correct":false,"feedback":{"fr":"","en":"The absence of alternative use may result from a practical limitation, without any contractual clause.","es":""}},{"id":"D","text":{"fr":"","en":"Over time, but only for the part of the costs already invoiced to the institute.","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion met covers all the performance completed, not only the part already invoiced.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000199","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000199","tested_point":"QST.IFRS15.000199","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B9","IFRS 15 §37"],"exercise":{"prompt":{"fr":"","en":"A clause that, if the customer terminates, only allows the entity to obtain compensation for its potential loss of profit is enough to establish an enforceable right to payment for performance completed to date.","es":""},"explanation":{"fr":"","en":"The right to payment must entitle the entity, at all times during the contract, to at least compensation for performance completed to date if the customer or another party terminates for reasons other than the entity's failure to perform (IFRS 15, para. 37). That compensation must approximate the selling price of the goods or services transferred to date, for example the costs incurred plus a reasonable margin, rather than compensation for only the loss of profit (IFRS 15, para. B9).","es":""},"common_error":{"fr":"","en":"Treating compensation for loss of profit as a right to payment for performance completed.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000200","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000200","tested_point":"QST.IFRS15.000200","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B10","IFRS 15 §37"],"exercise":{"prompt":{"fr":"","en":"Olbrane's contract provides for invoicing the customer only on completion of the work. If the customer terminates for reasons other than Olbrane's failure to perform, Olbrane is nevertheless entitled, at all times, to the costs incurred plus a reasonable margin. The CFO considers that there is no right to payment for performance completed to date, as there is no present right to invoice. What is your view?","es":""},"explanation":{"fr":"","en":"The right to payment for performance completed to date need not be a present, unconditional right; in many cases, the entity has an unconditional right only at an agreed milestone or on complete satisfaction of the obligation (IFRS 15, para. B10). What matters is the right, at all times, to obtain compensation for performance completed if the customer terminates for reasons other than the entity's failure to perform (IFRS 15, para. 37).","es":""},"common_error":{"fr":"","en":"Confusing the invoicing schedule with the enforceable right to payment.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"He is right: only a present, unconditional right to invoice is a right to payment.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard specifies that the right to payment need not be present and unconditional.","es":""}},{"id":"B","text":{"fr":"","en":"He is right: the right to payment requires regular advances during performance.","es":""},"correct":false,"feedback":{"fr":"","en":"The invoicing pattern is not decisive: a right to compensation on termination is enough.","es":""}},{"id":"C","text":{"fr":"","en":"He is wrong: the right to payment need not be present and unconditional.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"He is wrong, but only if the customer has already paid an advance.","es":""},"correct":false,"feedback":{"fr":"","en":"The existence of an advance is not a condition of the right to payment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000201","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000201","tested_point":"QST.IFRS15.000201","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B9","IFRS 15 §37"],"exercise":{"prompt":{"fr":"","en":"Ténarès develops bespoke software with an expected margin of 35%, well above the operating margin of 12% it usually earns on similar contracts. If the customer terminates for reasons other than Ténarès's failure to perform, the contract entitles it, at all times, to the costs incurred plus 12%. The software has no alternative use to Ténarès (case data). Is there an enforceable right to payment for performance completed to date?","es":""},"explanation":{"fr":"","en":"The compensation must approximate the selling price of performance completed to date, for example the costs incurred plus a reasonable margin (IFRS 15, para. B9). That margin need not equal the margin expected if the contract were fulfilled: when the contract-specific margin exceeds the entity's usual return, a reasonable return on its cost of capital or its usual operating margin on similar contracts may be enough (IFRS 15, para. B9). As the right exists at all times if the customer terminates (IFRS 15, para. 37), the right to payment is established.","es":""},"common_error":{"fr":"","en":"Requiring the termination compensation to reproduce the whole margin expected on the contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No: the compensation should include the whole margin of 35% expected under the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"The reasonable margin need not equal the margin expected on the contract.","es":""}},{"id":"B","text":{"fr":"","en":"Yes: the usual margin on similar contracts may be a reasonable margin.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No: only payment of the full contract price would be a right to payment.","es":""},"correct":false,"feedback":{"fr":"","en":"The right concerns performance completed to date, not the total contract price.","es":""}},{"id":"D","text":{"fr":"","en":"Yes, and compensation for the loss of profit alone would also have been enough.","es":""},"correct":false,"feedback":{"fr":"","en":"Compensation limited to the loss of profit is not enough: it must approximate the selling price of performance completed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000202","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000202","tested_point":"QST.IFRS15.000202","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B12","IFRS 15 §37","IFRS 15 §32"],"exercise":{"prompt":{"fr":"","en":"Mérindel manufactures custom lift cars, with no alternative use to it. Its contracts provide for a right to payment of the costs incurred plus a reasonable margin if the customer terminates. A legal opinion indicates, however, that in the country concerned the courts consistently deprive such clauses of effect. It is accepted (case data) that the first two criteria for recognition over time are not met. What do you conclude?","es":""},"explanation":{"fr":"","en":"To assess the right to payment, the entity considers the contract terms and the applicable law (IFRS 15, para. 37). Case law that deprives similar clauses of effect makes the right unenforceable (IFRS 15, para. B12). The third criterion is therefore not met and, as no other criterion is met, the obligation is satisfied at a point in time (IFRS 15, para. 32). Assessing the scope of the case law involves judgement, supported by the legal opinion.","es":""},"common_error":{"fr":"","en":"Sticking to the letter of the contract without examining legislation and case law.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognition over time: the contractual clause is enough, whatever the legal environment.","es":""},"correct":false,"feedback":{"fr":"","en":"Enforceability is assessed in the light of the contract and the applicable law, not the clause alone.","es":""}},{"id":"B","text":{"fr":"","en":"Recognition over time as long as no customer has actually challenged the clause.","es":""},"correct":false,"feedback":{"fr":"","en":"What matters is whether the right is enforceable, not the absence of disputes to date.","es":""}},{"id":"C","text":{"fr":"","en":"The choice between the two treatments is free, as the legal opinion is only an indication.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not a choice: without an enforceable right, the third criterion is not met.","es":""}},{"id":"D","text":{"fr":"","en":"No enforceable right to payment: the obligation is satisfied at a point in time.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000203","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000203","tested_point":"QST.IFRS15.000203","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §B12"],"exercise":{"prompt":{"fr":"","en":"Quillane is assessing the existence and enforceability of its right to payment for performance completed to date. Which elements must it consider?","es":""},"explanation":{"fr":"","en":"The existence and enforceability of the right to payment are assessed in the light of the contract and of the legislation or case law that may supplement or override it: a right conferred by law or administrative practice, case law depriving similar clauses of effect, or a customary practice of not enforcing the right that renders it unenforceable. An occasional waiver does not remove the right if it remains enforceable in the contract concerned (IFRS 15, para. B12). The customer's creditworthiness is not a factor cited for this assessment.","es":""},"common_error":{"fr":"","en":"Confusing an isolated waiver with a customary practice of not enforcing the right.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A one-off waiver, granted once to a customer for commercial reasons, that would remove the right in all its contracts.","es":""},"correct":false,"feedback":{"fr":"","en":"An occasional waiver does not remove the right if it remains enforceable in the contract concerned.","es":""}},{"id":"B","text":{"fr":"","en":"A law or administrative practice that gives it a right to payment even if the contract is silent.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Case law that has deprived similar payment clauses of effect.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Its customary practice of choosing not to enforce that right, which may make it unenforceable.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The credit rating assigned to the customer by an external agency.","es":""},"correct":false,"feedback":{"fr":"","en":"The customer's creditworthiness is not among the elements to consider for enforceability of the right.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000206","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000206","tested_point":"QST.IFRS15.000206","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38"],"exercise":{"prompt":{"fr":"","en":"For a performance obligation satisfied at a point in time, the transfer of legal title to the customer is on its own sufficient to determine when revenue is recognised.","es":""},"explanation":{"fr":"","en":"Legal title is only one of the indicators of the transfer of control, together with the entity's present right to payment, physical possession, the transfer of the significant risks and rewards and customer acceptance. The entity considers all these indicators to determine when the customer obtains control (IFRS 15, para. 38).","es":""},"common_error":{"fr":"","en":"Treating the transfer of legal title as the only criterion.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000207","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME","IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000207","tested_point":"QST.IFRS15.000207","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":35,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §38","IFRS 15 §32"],"exercise":{"prompt":{"fr":"","en":"When a performance obligation is satisfied at a point in time, the entity sets that point at the moment the customer obtains control of the asset, using indicators such as physical possession or customer acceptance.","es":""},"explanation":{"fr":"","en":"At contract inception, the entity determines for each performance obligation whether it is satisfied over time; if no over-time criterion is met, the obligation is satisfied at a point in time (IFRS 15, para. 32). The entity then identifies when control transfers using the indicators of the standard (IFRS 15, para. 38).","es":""},"common_error":{"fr":"","en":"Believing that a third category exists between satisfaction over time and at a point in time.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000208","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000208","tested_point":"QST.IFRS15.000208","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38"],"exercise":{"prompt":{"fr":"","en":"Which of the following is not one of the indicators of the transfer of control listed in IFRS 15 for an obligation satisfied at a point in time?","es":""},"explanation":{"fr":"","en":"The listed indicators are the entity's present right to payment, the customer's legal title, the customer's physical possession, the transfer of the significant risks and rewards of ownership and the customer's acceptance of the asset (IFRS 15, para. 38). The fact that the entity has incurred most of its production costs reflects its own effort, not the customer's position.","es":""},"common_error":{"fr":"","en":"Confusing production progress with the transfer of control.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The customer has accepted the asset.","es":""},"correct":false,"feedback":{"fr":"","en":"Customer acceptance of the asset is indeed an indicator of the transfer of control.","es":""}},{"id":"B","text":{"fr":"","en":"The entity has a present right to payment for the asset.","es":""},"correct":false,"feedback":{"fr":"","en":"The entity's present right to payment is one of the indicators.","es":""}},{"id":"C","text":{"fr":"","en":"The entity has incurred most of its production costs.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The customer has physical possession of the asset.","es":""},"correct":false,"feedback":{"fr":"","en":"Physical possession by the customer is one of the indicators listed in the standard.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000209","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000209","tested_point":"QST.IFRS15.000209","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38"],"exercise":{"prompt":{"fr":"","en":"Ardoisière du Lys sells pallets of roof tiles to a wholesaler. Which of the following facts, observed on 31 March 20X1, are indicators that the wholesaler has obtained control of the tiles?","es":""},"explanation":{"fr":"","en":"The entity's present right to payment, the customer's legal title, its physical possession of the asset, the transfer of the significant risks and rewards and customer acceptance are indicators of the transfer of control (IFRS 15, para. 38). Here, the invoice being due, the unconditional receipt and the transfer of title point to a transfer on 31 March 20X1. The fact that Ardoisière is still producing tiles or that the wholesaler has not yet paid are not indicators of the transfer.","es":""},"common_error":{"fr":"","en":"Waiting for cash collection to recognise revenue.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The wholesaler has not yet paid the invoice.","es":""},"correct":false,"feedback":{"fr":"","en":"Collection is not an indicator: what matters is the entity's present right to payment, not the actual payment.","es":""}},{"id":"B","text":{"fr":"","en":"Ardoisière has a present right to payment of the price.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Ardoisière is still producing part of the tiles ordered for the next delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"Tiles still being produced for a later delivery say nothing about control of the pallets already delivered.","es":""}},{"id":"D","text":{"fr":"","en":"The wholesaler has received the pallets without reservation.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Legal title to the delivered pallets has passed to the wholesaler.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000210","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000210","tested_point":"QST.IFRS15.000210","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":75,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38"],"exercise":{"prompt":{"fr":"","en":"Fonderie Valmont signs a contract on 2 December 20X1 to sell 40 industrial valves. The valves are delivered and accepted without reservation by the customer on 28 December 20X1; title passes on delivery and the invoice, issued on delivery, is payable within 60 days. The sale is a performance obligation satisfied at a point in time. On which date does Valmont recognise revenue?","es":""},"explanation":{"fr":"","en":"On delivery, the customer has physical possession of and legal title to the valves, has accepted them, and Valmont has a present right to payment: the indicators point to a transfer of control on 28 December 20X1 (IFRS 15, para. 38). Signing the contract transfers nothing, and the payment term does not prevent the transfer of control.","es":""},"common_error":{"fr":"","en":"Waiting for collection to recognise revenue.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On 2 December 20X1, the contract signing date.","es":""},"correct":false,"feedback":{"fr":"","en":"Signing creates the contract but does not transfer control of the valves to the customer.","es":""}},{"id":"B","text":{"fr":"","en":"On 28 December 20X1, on delivery.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"On collection of the price, about 60 days after delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"Collection is not the event that transfers control; the right to payment exists from delivery.","es":""}},{"id":"D","text":{"fr":"","en":"On 31 December 20X1, the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"The reporting date has no effect on the date control is transferred.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000211","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME","IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000211","tested_point":"QST.IFRS15.000211","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":55,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38","IFRS 15 §B77"],"exercise":{"prompt":{"fr":"","en":"Brasserie des Combes delivers kegs to a bar under a consignment arrangement: the brewery keeps the kegs until they are sold on to consumers and can require their return. The brewery must recognise revenue as soon as the kegs are delivered to the bar, since the bar has physical possession of them.","es":""},"explanation":{"fr":"","en":"When a product is delivered to another party for sale to end customers, the entity assesses whether that party has obtained control; a product held on consignment gives rise to no revenue on delivery to the consignee (IFRS 15, para. B77). Physical possession is only one indicator among others (IFRS 15, para. 38): here, the brewery keeps control of the kegs until they are sold on.","es":""},"common_error":{"fr":"","en":"Treating delivery to the consignee as a transfer of control.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000212","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME","IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000212","tested_point":"QST.IFRS15.000212","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38","IFRS 15 §B84"],"exercise":{"prompt":{"fr":"","en":"Cartonnerie Maubert sells 20,000 boxes to a logistics company. The contract includes an acceptance clause covering only the dimensions and weight of the boxes. Maubert checks both criteria before shipment and documents compliance. The boxes are delivered on 15 June 20X1; the customer signs the acceptance report on 5 July 20X1. The other indicators (title, possession, right to payment) are present on delivery. When is control transferred?","es":""},"explanation":{"fr":"","en":"Customer acceptance is an indicator of the transfer of control (IFRS 15, para. 38). When the entity can objectively determine that the agreed specifications are met, acceptance is a formality that does not delay the transfer of control (IFRS 15, para. B84). As Maubert checked and documented dimensions and weight before shipment, control transfers on delivery, on 15 June 20X1. Whether the check is objective is here a fact of the case.","es":""},"common_error":{"fr":"","en":"Always waiting for the acceptance report to be signed.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On 5 July 20X1, when the acceptance report is signed.","es":""},"correct":false,"feedback":{"fr":"","en":"Acceptance is here only a formality: compliance was objectively established before shipment.","es":""}},{"id":"B","text":{"fr":"","en":"On 15 June 20X1, on delivery.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Only after a contractual claims period, not specified, has expired.","es":""},"correct":false,"feedback":{"fr":"","en":"No claims period appears in the case; the clause covers criteria already checked.","es":""}},{"id":"D","text":{"fr":"","en":"On the order date, since the boxes are standard.","es":""},"correct":false,"feedback":{"fr":"","en":"At the order date, the customer has neither possession, nor title, nor any other indicator of control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000213","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME","IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000213","tested_point":"QST.IFRS15.000213","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38","IFRS 15 §B86"],"exercise":{"prompt":{"fr":"","en":"Optiméa delivers three laboratory analysers to a clinic on 1 October 20X1 for a 90-day trial period. The clinic only commits to pay at the end of the trial and can return the devices free of charge during that period. It uses them from delivery. The trial expires on 30 December 20X1; at that date, the clinic has neither expressly accepted nor returned the devices. When does Optiméa recognise revenue?","es":""},"explanation":{"fr":"","en":"When products are delivered for a trial with no commitment to pay until the trial ends, control transfers only on customer acceptance or when the trial period expires (IFRS 15, para. B86); acceptance is also one of the indicators of the transfer of control (IFRS 15, para. 38). In the absence of express acceptance, control transfers when the trial expires, on 30 December 20X1: revenue is recognised on that date, not on delivery.","es":""},"common_error":{"fr":"","en":"Recognising revenue on delivery of goods supplied for a trial.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On 1 October 20X1, because the clinic has physical possession of the devices and uses them.","es":""},"correct":false,"feedback":{"fr":"","en":"Possession and use during the trial are not enough: with no commitment to pay, control does not transfer on delivery.","es":""}},{"id":"B","text":{"fr":"","en":"On 31 December 20X1, the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"The reporting date is not an event that transfers control.","es":""}},{"id":"C","text":{"fr":"","en":"On collection of the price, after the trial.","es":""},"correct":false,"feedback":{"fr":"","en":"The transfer of control does not depend on collection but on acceptance or the expiry of the trial.","es":""}},{"id":"D","text":{"fr":"","en":"On 30 December 20X1, when the trial expires, in the absence of earlier acceptance.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000214","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME","IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000214","tested_point":"QST.IFRS15.000214","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38","IFRS 15","IFRS 15 §B81"],"exercise":{"prompt":{"fr":"","en":"Agromat sells six combine harvesters to a farming cooperative. Lacking space in its sheds, the cooperative asks Agromat in writing to keep the machines until spring. On 20 November 20X1, the machines are complete, tagged in the cooperative's name, stored separately and ready for delivery; Agromat can neither use them nor sell them to another customer. Legal title passes and the invoice is due on that date. Which analysis applies to the sale of the machines?","es":""},"explanation":{"fr":"","en":"The timing of the transfer of control is assessed with the usual indicators, and the customer may obtain control while the entity keeps physical possession (IFRS 15, para. 38 and B80). In a bill-and-hold arrangement, control transfers only if the arrangement has a substantive reason, the product is identified as belonging to the customer, it is ready for physical transfer and the entity can neither use it nor direct it to another customer (IFRS 15, para. B81). All these conditions are met on 20 November 20X1 according to the facts of the case: revenue from the sale is recognised on that date. Agromat also considers whether the custody of the machines is a separate performance obligation to which part of the price is allocated (IFRS 15, para. B82).","es":""},"common_error":{"fr":"","en":"Refusing any revenue while the entity keeps physical possession of the good.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No revenue before physical delivery in spring, since Agromat keeps the machines.","es":""},"correct":false,"feedback":{"fr":"","en":"Physical possession is only an indicator: in a bill-and-hold arrangement, the customer can obtain control before delivery if all the conditions are met.","es":""}},{"id":"B","text":{"fr":"","en":"Revenue recognised on 20 November 20X1; consider whether custody is a separate obligation.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Revenue recognised on signing the contract, as the order is firm.","es":""},"correct":false,"feedback":{"fr":"","en":"On signing, the machines are neither complete nor identified: control cannot transfer.","es":""}},{"id":"D","text":{"fr":"","en":"Revenue recognised in spring, on collection of the balance of the price.","es":""},"correct":false,"feedback":{"fr":"","en":"The case mentions no collection in spring, and collection does not set the date of the transfer of control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000215","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME","IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE","IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000215","tested_point":"QST.IFRS15.000215","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15 §38","IFRS 15 §B85","IFRS 15 §B78","IFRS 15 §B86"],"exercise":{"prompt":{"fr":"","en":"At 30 September 20X1, Ventis is analysing several deliveries of equipment. Which of the following situations indicate that the customer (or the third party) has not yet obtained control of the delivered equipment?","es":""},"explanation":{"fr":"","en":"The transfer of control is assessed using indicators such as title, possession, right to payment and acceptance (IFRS 15, para. 38). If compliance with the specifications cannot be objectively determined, control transfers only after customer acceptance (IFRS 15, para. B85). The entity's right to require the return of the product or its transfer to a third party is an indicator of a consignment arrangement (IFRS 15, para. B78). A product delivered for a trial with no commitment to pay transfers only on acceptance or when the trial expires (IFRS 15, para. B86). The customer's title and Ventis's present right to payment point instead to a transfer.","es":""},"common_error":{"fr":"","en":"Assuming that every delivery transfers control.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The customer has legal title to the equipment, stored in its warehouse.","es":""},"correct":false,"feedback":{"fr":"","en":"Legal title and possession by the customer are indicators of a transfer of control, not of its absence.","es":""}},{"id":"B","text":{"fr":"","en":"Acceptance covers performance in the customer's environment that Ventis cannot objectively verify, and it has not yet taken place.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Ventis has a present right to payment for the delivered equipment.","es":""},"correct":false,"feedback":{"fr":"","en":"The entity's present right to payment is an indicator of a transfer of control.","es":""}},{"id":"D","text":{"fr":"","en":"The distributor holds the equipment, but Ventis can require its return or its transfer to another distributor.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The equipment is delivered for an ongoing trial, with no commitment to pay before the trial ends.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000216","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000216","tested_point":"QST.IFRS15.000216","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"indicators"},"references":["IFRS 15","IFRS 15 §38"],"exercise":{"prompt":{"fr":"","en":"Hexagone Mobilier sells a set of showroom furniture to a hotel. The contract includes a clause under which Hexagone may repurchase the furniture at a later date. Legal title passes on delivery. What must Hexagone do to assess whether the hotel obtains control of the furniture?","es":""},"explanation":{"fr":"","en":"To assess whether the customer obtains control of an asset, the entity considers any agreement to repurchase that asset, applying the application guidance on repurchase agreements (IFRS 15, para. 34). The transfer of title is only one indicator among others (IFRS 15, para. 38): the repurchase clause cannot be ignored.","es":""},"common_error":{"fr":"","en":"Stopping at the transfer of legal title without examining the repurchase agreement.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Ignore the clause, since legal title passes on delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"Legal title is only an indicator; a repurchase agreement must be considered when assessing control.","es":""}},{"id":"B","text":{"fr":"","en":"Recognise revenue on signing, as the clause is only an option.","es":""},"correct":false,"feedback":{"fr":"","en":"The contract is not the event that transfers control, and the repurchase clause must be analysed.","es":""}},{"id":"C","text":{"fr":"","en":"Automatically treat the transaction as a consignment arrangement, whatever its terms.","es":""},"correct":false,"feedback":{"fr":"","en":"The case does not describe a consignment arrangement; the standard requires the repurchase agreement to be analysed under its own requirements.","es":""}},{"id":"D","text":{"fr":"","en":"Take the repurchase agreement into account in the control analysis.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000217","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.POINT_IN_TIME","IFRS15.SATISFACTION.OVER_TIME"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000217","tested_point":"QST.IFRS15.000217","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":55,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000010","section_id":"control"},"references":["IFRS 15 §33","IFRS 15 §38"],"exercise":{"prompt":{"fr":"","en":"Under IFRS 15, the decisive criterion for recognising revenue at a point in time is the transfer of the significant risks and rewards of ownership; the other indicators are merely secondary.","es":""},"explanation":{"fr":"","en":"IFRS 15 is based on control: the ability to direct the use of the asset and obtain substantially all of its remaining benefits (IFRS 15, para. 33). The transfer of the significant risks and rewards is only one of the indicators the entity considers, together with the present right to payment, legal title, physical possession and customer acceptance (IFRS 15, para. 38).","es":""},"common_error":{"fr":"","en":"Reasoning only in terms of risks and rewards, without analysing control.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000218","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000218","tested_point":"QST.IFRS15.000218","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"For a single performance obligation satisfied over time, the entity may measure progress on part of the work using an output method and on the rest using an input method, and then add the results together.","es":""},"explanation":{"fr":"","en":"The entity applies a single method of measuring progress to each performance obligation satisfied over time, consistently for similar obligations and circumstances, and remeasures progress at each reporting date (IFRS 15, para. 40). Combining two methods for one obligation does not comply.","es":""},"common_error":{"fr":"","en":"Mixing methods within a single performance obligation.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000219","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000219","tested_point":"QST.IFRS15.000219","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §43"],"exercise":{"prompt":{"fr":"","en":"At the end of 20X2, Travaux Garance revises upwards the total expected costs of a construction project whose performance obligation is satisfied over time, following an unforeseen rise in material prices in 20X2 (new information, case data), which changes its progress. This update of the measure of progress is a change in accounting estimate under IAS 8.","es":""},"explanation":{"fr":"","en":"As circumstances change, the entity updates its measure of progress to reflect changes in the outcome of the obligation; these updates are changes in accounting estimate under IAS 8 (IFRS 15, para. 43). They are neither the correction of an error nor a change in method.","es":""},"common_error":{"fr":"","en":"Treating a revision of expected costs as the correction of an error.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000220","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000220","tested_point":"QST.IFRS15.000220","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Which of the following measures is an output method?","es":""},"explanation":{"fr":"","en":"Output methods directly measure the value to the customer of what has been transferred relative to the remaining promised goods or services, for example surveys of performance completed, milestones reached or units delivered (IFRS 15, para. B15). Costs incurred, labour hours and machine hours measure the entity's efforts: they are inputs. Both families of methods are acceptable (IFRS 15, para. 41).","es":""},"common_error":{"fr":"","en":"Classifying costs incurred as an output.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Costs incurred relative to total expected costs.","es":""},"correct":false,"feedback":{"fr":"","en":"Costs incurred measure the entity's effort: this is an input method.","es":""}},{"id":"B","text":{"fr":"","en":"Labour hours expended.","es":""},"correct":false,"feedback":{"fr":"","en":"Labour hours are an input, not an output.","es":""}},{"id":"C","text":{"fr":"","en":"Milestones reached.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Machine hours used.","es":""},"correct":false,"feedback":{"fr":"","en":"Machine hours measure the effort expended: they are an input.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000221","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000221","tested_point":"QST.IFRS15.000221","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":55,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Lumière Conseil measures progress on a consulting engagement satisfied over time by comparing the hours worked by its consultants with the total expected hours. What type of method is this?","es":""},"explanation":{"fr":"","en":"Input methods measure progress on the basis of the entity's efforts, such as resources consumed, labour hours, costs incurred, time elapsed or machine hours, relative to the total expected (IFRS 15, para. B18). The ratio of hours worked to total expected hours is an example.","es":""},"common_error":{"fr":"","en":"Confusing inputs and outputs.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An output method.","es":""},"correct":false,"feedback":{"fr":"","en":"Hours worked describe the entity's effort, not the value transferred to the customer: they are not an output.","es":""}},{"id":"B","text":{"fr":"","en":"An input method.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A method based on cash received from the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Cash received does not measure progress in performance; it is not a method of the standard.","es":""}},{"id":"D","text":{"fr":"","en":"A method not permitted by IFRS 15 for services.","es":""},"correct":false,"feedback":{"fr":"","en":"Labour hours are among the inputs listed in the standard; the method is permitted.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000222","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000222","tested_point":"QST.IFRS15.000222","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about choosing a method of measuring progress are correct?","es":""},"explanation":{"fr":"","en":"The choice of method takes into account the nature of the promised good or service (IFRS 15, para. 41). Outputs may not be directly observable, or the information needed may not be available without undue cost, which may lead to an input method (IFRS 15, para. B17). If efforts are expended evenly over the period, straight-line recognition may be appropriate (IFRS 15, para. B18). However, a single method is applied to each obligation, consistently (IFRS 15, para. 40): no opportunistic changes and no averaging of two methods.","es":""},"common_error":{"fr":"","en":"Choosing the method according to the revenue it produces.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity may change method every year to use the one giving the highest revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The method is applied consistently; it is not chosen each year according to the result it produces.","es":""}},{"id":"B","text":{"fr":"","en":"The choice takes into account the nature of the good or service promised to the customer.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"If outputs are not directly observable, an input method may be necessary.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The entity may average two methods for a single performance obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"A single method applies to each performance obligation; averaging methods is not permitted.","es":""}},{"id":"E","text":{"fr":"","en":"If efforts are expended evenly over the period, straight-line recognition may be appropriate.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000223","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000501","tested_point":"VG.IFRS15.000501","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §B18","IFRS 15 §39"],"exercise":{"prompt":{"fr":"","en":"Bâtisud is building a warehouse for a customer; the performance obligation is satisfied over time. The transaction price is {contract_price}. Total expected costs amount to {total_expected_costs} and costs incurred at 31 December 20X1, the first reporting date, to {costs_incurred}. Bâtisud has concluded that costs incurred faithfully depict its performance. Calculate the percentage of completion and the revenue for 20X1.","es":""},"explanation":{"fr":"","en":"Under an input method, progress is the ratio of costs incurred to total expected costs (IFRS 15, para. B18): 200,000 / 500,000 = 40%. Revenue depicts the entity's performance in transferring control (IFRS 15, para. 39): 40% × 800,000 = 320,000. The choice of method is Bâtisud's judgement, given in the case.","es":""},"common_error":{"fr":"","en":"Dividing costs incurred by the transaction price instead of total expected costs.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"800000","unit":"EUR"},{"id":"total_expected_costs","value":"500000","unit":"EUR"},{"id":"costs_incurred","value":"200000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at 31 December 20X1","es":""},"value":"200000","unit":"EUR"}],"steps":[{"id":"PROGRESS","label":{"fr":"","en":"Percentage of completion","es":""},"answer":40,"tolerance":0,"unit":"PERCENT"},{"id":"REVENUE","label":{"fr":"","en":"Revenue for 20X1","es":""},"answer":320000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROGRESS","meaning":{"fr":"","en":"Percentage of completion","es":""},"expression":"a / b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Costs incurred at 31 December 20X1","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total expected costs","es":""},"value":500000,"unit":"EUR"}],"result":40,"unit":"PERCENT","rationale":{"fr":"","en":"Under an input method, progress is the ratio of costs incurred to total expected costs (IFRS 15, para. B18): 200,000 / 500,000 = 40%.","es":""}},{"step":"REVENUE","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Percentage of completion","es":""},"value":40,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Transaction price","es":""},"value":800000,"unit":"EUR"}],"result":320000,"unit":"EUR","rationale":{"fr":"","en":"Revenue depicts the entity's performance in transferring control (IFRS 15, para. 39): 40% × 800,000 = 320,000.","es":""}}],"references":["REF.IFRS15.B18","REF.IFRS15.39"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000224","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000501","tested_point":"VG.IFRS15.000501","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §B18","IFRS 15 §39"],"exercise":{"prompt":{"fr":"","en":"Software developer Ingésoft is building bespoke software for a mutual insurer, which controls the developments as they are made; the obligation is satisfied over time. The agreed fixed fee, the only component of the price, is {fixed_fee}. The project's cost budget, considered reliable, is {budgeted_costs}. At 30 June 20X2, the first reporting date since the project started, Ingésoft has incurred {costs_to_date} of costs, all reflecting its performance, and has invoiced {amount_invoiced} under the contractual schedule. Ingésoft measures progress using costs. What revenue does it recognise at that date?","es":""},"explanation":{"fr":"","en":"Cost-based progress compares costs incurred with the total expected (IFRS 15, para. B18): 270,000 / 900,000 = 30%. Revenue depicts the performance completed (IFRS 15, para. 39): 30% × 1,200,000 = 360,000. The amount invoiced, 400,000, does not measure progress; the difference is a matter of presenting the contract balances.","es":""},"common_error":{"fr":"","en":"Recognising the amount invoiced as revenue.","es":""},"format":"CALCULATION","placeholders":[{"id":"fixed_fee","value":"1200000","unit":"EUR"},{"id":"budgeted_costs","value":"900000","unit":"EUR"},{"id":"costs_to_date","value":"270000","unit":"EUR"},{"id":"amount_invoiced","value":"400000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Agreed fixed fee","es":""},"value":"1200000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at 30 June 20X2","es":""},"value":"270000","unit":"EUR"},{"label":{"fr":"","en":"Amount invoiced","es":""},"value":"400000","unit":"EUR"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue recognised at 30 June 20X2","es":""},"answer":360000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000225","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000502","tested_point":"VG.IFRS15.000502","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §43","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Ponts Ravel is building a bridge for a local authority, an obligation satisfied over time and measured using costs incurred. Transaction price: {contract_price}. Revenue recognised in 20X1: {revenue_20x1}. At 31 December 20X2, cumulative costs incurred amount to {cumulative_costs} and total expected costs are revised to {revised_total_costs}. Calculate the revenue for 20X2.","es":""},"explanation":{"fr":"","en":"The entity updates its measure of progress to reflect changes in the outcome of the obligation (IFRS 15, para. 43). Cumulative progress: 1,120,000 / 1,600,000 = 70% (IFRS 15, para. B18). Cumulative revenue: 70% × 2,000,000 = 1,400,000. Revenue for 20X2: 1,400,000 − 800,000 = 600,000.","es":""},"common_error":{"fr":"","en":"Recognising cumulative revenue in 20X2.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"2000000","unit":"EUR"},{"id":"revenue_20x1","value":"800000","unit":"EUR"},{"id":"cumulative_costs","value":"1120000","unit":"EUR"},{"id":"revised_total_costs","value":"1600000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"2000000","unit":"EUR"},{"label":{"fr":"","en":"Revenue recognised in 20X1","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative costs incurred at 31 December 20X2","es":""},"value":"1120000","unit":"EUR"},{"label":{"fr":"","en":"Revised total expected costs","es":""},"value":"1600000","unit":"EUR"}],"steps":[{"id":"REVENUE_20X2","label":{"fr":"","en":"Revenue for 20X2","es":""},"answer":600000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000226","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000502","tested_point":"VG.IFRS15.000502","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §43","IFRS 15","IFRS 15 §B18"],"exercise":{"prompt":{"fr":"","en":"Kerlo shipyard is building a fishing vessel for a shipowner; the obligation is satisfied over time and progress is measured using costs. Fixed price: {contract_price}. At the end of year 1, costs incurred are {costs_year_1} out of total expected costs of {estimate_year_1}. At the end of year 2, cumulative costs reach {cumulative_costs_year_2} and total expected costs are increased to {revised_estimate_year_2} following a rise in steel prices. Determine the revenue for year 1 and for year 2.","es":""},"explanation":{"fr":"","en":"Year 1: 1,000,000 / 2,500,000 = 40%; revenue 40% × 3,600,000 = 1,440,000 (IFRS 15, para. B18). Progress is remeasured at each reporting date (IFRS 15, para. 40) and updated to reflect the cost revision, which is a change in estimate (IFRS 15, para. 43). Year 2: 2,160,000 / 2,880,000 = 75%; cumulative revenue 75% × 3,600,000 = 2,700,000; revenue for year 2: 2,700,000 − 1,440,000 = 1,260,000.","es":""},"common_error":{"fr":"","en":"Taking cumulative revenue as the revenue for year 2.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"3600000","unit":"EUR"},{"id":"costs_year_1","value":"1000000","unit":"EUR"},{"id":"estimate_year_1","value":"2500000","unit":"EUR"},{"id":"cumulative_costs_year_2","value":"2160000","unit":"EUR"},{"id":"revised_estimate_year_2","value":"2880000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Fixed price","es":""},"value":"3600000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at the end of year 1","es":""},"value":"1000000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs at the end of year 1","es":""},"value":"2500000","unit":"EUR"},{"label":{"fr":"","en":"Cumulative costs at the end of year 2","es":""},"value":"2160000","unit":"EUR"},{"label":{"fr":"","en":"Revised total expected costs at the end of year 2","es":""},"value":"2880000","unit":"EUR"}],"steps":[{"id":"REVENUE_YEAR_1","label":{"fr":"","en":"Revenue for year 1","es":""},"answer":1440000,"tolerance":0,"unit":"EUR"},{"id":"REVENUE_YEAR_2","label":{"fr":"","en":"Revenue for year 2","es":""},"answer":1260000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000227","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000503","tested_point":"VG.IFRS15.000503","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §45","IFRS 15 §44"],"exercise":{"prompt":{"fr":"","en":"Hydrotech is building a pumping station, an obligation satisfied over time, for a price of {contract_price}. At 31 December 20X1, four months after the start, the soil surveys are incomplete and Hydrotech cannot yet reasonably measure the outcome of the contract. It nevertheless expects to recover the costs incurred, which amount to {costs_incurred}. It has invoiced an advance of {amount_billed}. What revenue does it recognise in 20X1?","es":""},"explanation":{"fr":"","en":"The entity recognises revenue over time only if it can reasonably measure its progress (IFRS 15, para. 44). When the outcome cannot yet be reasonably measured but the entity expects to recover its costs, it recognises revenue to the extent of the costs incurred (IFRS 15, para. 45): 130,000, with no margin. The advance invoiced, 200,000, does not determine revenue.","es":""},"common_error":{"fr":"","en":"Recognising no revenue.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"900000","unit":"EUR"},{"id":"costs_incurred","value":"130000","unit":"EUR"},{"id":"amount_billed","value":"200000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Transaction price","es":""},"value":"900000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at 31 December 20X1","es":""},"value":"130000","unit":"EUR"},{"label":{"fr":"","en":"Advance invoiced","es":""},"value":"200000","unit":"EUR"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue for 20X1","es":""},"answer":130000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000228","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000503","tested_point":"VG.IFRS15.000503","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §45"],"exercise":{"prompt":{"fr":"","en":"Sylvae Conseil began, in November 20X2, an engagement to redesign a hospital's processes, satisfied over time, for a fee of {fee}. At 31 December 20X2, the final scope has not been settled and the firm cannot reasonably measure the outcome of the engagement; it nevertheless expects to recover the costs incurred, that is {costs_to_date}. Its usual target margin is {target_margin}. What revenue does it recognise for 20X2?","es":""},"explanation":{"fr":"","en":"As long as the outcome of the obligation cannot be reasonably measured, an entity that expects to recover its costs recognises revenue equal to the costs incurred (IFRS 15, para. 45): 47,500. The 25% target margin cannot be applied while the outcome is not measurable.","es":""},"common_error":{"fr":"","en":"Adding the target margin to the costs incurred.","es":""},"format":"CALCULATION","placeholders":[{"id":"fee","value":"400000","unit":"EUR"},{"id":"costs_to_date","value":"47500","unit":"EUR"},{"id":"target_margin","value":"25","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Agreed fee","es":""},"value":"400000","unit":"EUR"},{"label":{"fr":"","en":"Costs incurred at 31 December 20X2","es":""},"value":"47500","unit":"EUR"},{"label":{"fr":"","en":"Usual target margin","es":""},"value":"25","unit":"PERCENT"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue for 20X2","es":""},"answer":47500,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000231","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000231","tested_point":"QST.IFRS15.000231","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15","IFRS 15 §B18","IFRS 15 §39"],"exercise":{"prompt":{"fr":"","en":"Lumen Réseaux is upgrading a city's street lighting (obligation satisfied over time, price of 1,000,000, total expected costs of 800,000; progress measured using costs). At 31 December 20X1, costs incurred amount to 380,000, including 100,000 of light fittings purchased and stored in Lumen's warehouse, not yet installed; under the contract, the city will obtain control of them only when they are installed. What revenue does Lumen recognise at 31 December 20X1?","es":""},"explanation":{"fr":"","en":"The measure of progress excludes goods whose control has not transferred to the customer (IFRS 15, para. 42). The fittings stored at Lumen are therefore excluded from the costs incurred used in the input method (IFRS 15, para. B18): (380,000 − 100,000) / 800,000 = 35%, giving revenue of 35% × 1,000,000 = 350,000, which depicts the performance actually transferred (IFRS 15, para. 39). The timing of the transfer of control of the fittings is here a fact of the case.","es":""},"common_error":{"fr":"","en":"Including in progress materials that the customer does not yet control.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"475,000","es":""},"correct":false,"feedback":{"fr":"","en":"This amount includes the fittings not yet installed: their control has not yet transferred to the city, so they are excluded from progress.","es":""}},{"id":"B","text":{"fr":"","en":"350,000","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"280,000","es":""},"correct":false,"feedback":{"fr":"","en":"This amount equals the costs incurred excluding the fittings: revenue over time is obtained by applying the percentage to the price.","es":""}},{"id":"D","text":{"fr":"","en":"380,000","es":""},"correct":false,"feedback":{"fr":"","en":"Limiting revenue to costs incurred applies only when the outcome cannot be reasonably measured, which is not the case here.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000232","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"ANALYSIS","context":"V1_QST.IFRS15.000232","tested_point":"QST.IFRS15.000232","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §39","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"For a renovation contract of Atelier Corbel (price of 1,500,000, obligation satisfied over time, progress measured using costs), an accounting assistant prepared the following at 31 December 20X2: cumulative costs 900,000; total expected costs 1,200,000; progress 75%; cumulative revenue 1,125,000; revenue recognised in 20X2: 1,125,000. Revenue for 20X1 was 450,000. Where is the error?","es":""},"explanation":{"fr":"","en":"Progress, remeasured at the reporting date (IFRS 15, para. 40), is indeed 900,000 / 1,200,000 = 75% and cumulative revenue 1,125,000. But revenue for the period depicts the performance of the period (IFRS 15, para. 39): it equals cumulative revenue less revenue already recognised, that is 1,125,000 − 450,000 = 675,000. The assistant recognised the cumulative amount, which counts 20X1 revenue twice.","es":""},"common_error":{"fr":"","en":"Recognising cumulative revenue as revenue for the period.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The 75% progress is wrong, because costs should have been compared with the price of 1,500,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Costs incurred are compared with total expected costs, not with the price: 75% is correct.","es":""}},{"id":"B","text":{"fr":"","en":"Cumulative revenue is wrong: it should have been calculated by applying 75% to total expected costs.","es":""},"correct":false,"feedback":{"fr":"","en":"Cumulative revenue is obtained by applying progress to the transaction price: 75% × 1,500,000 = 1,125,000 is correct.","es":""}},{"id":"C","text":{"fr":"","en":"Revenue for 20X2 is 675,000: the cumulative amount was recognised instead of the change.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The cost method is not permitted for a renovation; an output method was required.","es":""},"correct":false,"feedback":{"fr":"","en":"Input methods, including costs incurred, are permitted; the method is not the issue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000233","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"ANALYSIS","context":"V1_QST.IFRS15.000233","tested_point":"QST.IFRS15.000233","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §43","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Génie Civil Arvel is building a tunnel (price of 2,400,000, progress measured using costs). End of 20X1: costs incurred 500,000 out of total expected costs of 2,000,000, revenue recognised 600,000. End of 20X2: cumulative costs 1,500,000, total expected costs revised to 2,500,000 because the rock is harder than expected. The controller restates 20X1 (progress reduced to 20%, revenue 480,000) and recognises revenue of 960,000 in 20X2. Fact of the case: under IAS 8, the effect of a change in accounting estimate is recognised in the period of the change, without restating prior periods. Fact of the case: the provision for the onerous contract under IAS 37 is recognised separately and is not part of the question. What is the error?","es":""},"explanation":{"fr":"","en":"Updating progress following the cost revision is a change in accounting estimate (IFRS 15, para. 43); under the IAS 8 fact given in the case, 20X1 is not restated. Progress at the end of 20X2: 1,500,000 / 2,500,000 = 60%; cumulative revenue 60% × 2,400,000 = 1,440,000; revenue for 20X2: 1,440,000 − 600,000 = 840,000. The controller reaches the same cumulative amount but wrongly allocates the effect of the revision to 20X1. The provision for the onerous contract (IAS 37), recognised separately according to the case, is outside the scope of the question.","es":""},"common_error":{"fr":"","en":"Restating the prior year after a revision of expected costs.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The cumulative progress of 60% at the end of 20X2 is wrong: the original total of 2,000,000 should have been kept until completion.","es":""},"correct":false,"feedback":{"fr":"","en":"Progress must reflect the revised total expected costs: 60% is correct.","es":""}},{"id":"B","text":{"fr":"","en":"The cost revision should have been ignored until the end of the project, the measure of progress set in 20X1 remaining frozen as a matter of principle.","es":""},"correct":false,"feedback":{"fr":"","en":"The entity updates its measure of progress as circumstances change; ignoring the revision does not comply.","es":""}},{"id":"C","text":{"fr":"","en":"Restating 20X1 is wrong: 20X1 remains at 600,000 and revenue for 20X2 is 840,000.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The controller should have abandoned the cost method upon the revision and switched to an output method for 20X2.","es":""},"correct":false,"feedback":{"fr":"","en":"A cost revision does not justify a change in method; the method continues to be applied consistently.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000234","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000234","tested_point":"QST.IFRS15.000234","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15","IFRS 15 §39"],"exercise":{"prompt":{"fr":"","en":"Linéo is building four assembly lines in a manufacturer's plant, and the manufacturer controls the work in progress as it is performed; the contract is a single obligation satisfied over time. At 31 December 20X1, one line is complete and delivered, and two others are almost finished in the customer's plant. The finance director proposes measuring progress by lines delivered, that is 25%. What is your assessment?","es":""},"explanation":{"fr":"","en":"Output methods, such as units delivered, are acceptable, but the entity checks that the chosen measure faithfully depicts its performance; units delivered may fail to do so when work in progress controlled by the customer is significant (IFRS 15, para. B15). The objective is to depict the entity's performance in transferring control (IFRS 15, para. 39). Here, two lines almost finished at the customer's plant would be ignored: Linéo must use another measure, applied consistently (IFRS 15, para. 40). The choice of that measure is a matter of judgement.","es":""},"common_error":{"fr":"","en":"Using units delivered without checking that they depict performance.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Measuring by lines delivered is always suitable, since any output method is permitted by the standard.","es":""},"correct":false,"feedback":{"fr":"","en":"An output method is appropriate only if it faithfully depicts performance; here, it omits significant work.","es":""}},{"id":"B","text":{"fr":"","en":"It is not suitable: it omits significant work in progress controlled by the customer.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No revenue can be recognised before the last line is delivered, as there is a single obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"The obligation is satisfied over time: revenue is recognised as progress is made, not on completion.","es":""}},{"id":"D","text":{"fr":"","en":"Lines delivered and costs incurred on lines in progress must be combined, and the two measures added together.","es":""},"correct":false,"feedback":{"fr":"","en":"A single method applies to each performance obligation; two measures are not combined.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000235","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000235","tested_point":"QST.IFRS15.000235","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §44"],"exercise":{"prompt":{"fr":"","en":"An entity recognises revenue for an obligation satisfied over time only if it can reasonably measure its progress, which requires the reliable information needed to apply an appropriate method.","es":""},"explanation":{"fr":"","en":"Recognising revenue over time requires that progress can be reasonably measured, and therefore that the entity has the reliable information needed to apply an appropriate method (IFRS 15, para. 44).","es":""},"common_error":{"fr":"","en":"Applying a percentage of completion based on unreliable estimates.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000236","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000236","tested_point":"QST.IFRS15.000236","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §91","IFRS 15 §92"],"exercise":{"prompt":{"fr":"","en":"Orbis pays its salesperson a commission of 4,000 that is due only if the 3-year maintenance contract with a customer is signed. Orbis expects to recover this cost through the contract margins. The commission is recognised as an asset.","es":""},"explanation":{"fr":"","en":"Incremental costs of obtaining a contract are those the entity would not have incurred if the contract had not been obtained, a sales commission being the typical example (IFRS 15, para. 92). They are recognised as an asset if the entity expects to recover them (IFRS 15, para. 91), which is the case here according to the facts.","es":""},"common_error":{"fr":"","en":"Always expensing sales commissions.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000237","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000237","tested_point":"QST.IFRS15.000237","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §93"],"exercise":{"prompt":{"fr":"","en":"To respond to a tender, Verdance incurs 7,000 of lawyer's fees for drafting its proposal; these fees are due whether or not the contract is won and cannot be recharged to the customer. Verdance wins the contract: it must recognise these fees as an asset.","es":""},"explanation":{"fr":"","en":"Costs to obtain a contract that would have been incurred regardless of whether the contract was obtained are recognised as an expense when incurred, unless they are explicitly chargeable to the customer regardless of whether the contract is obtained (IFRS 15, para. 93). Verdance's fees, due in any event and not chargeable, are an expense, even though the contract is eventually won.","es":""},"common_error":{"fr":"","en":"Capitalising tender response costs because the contract was won.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000238","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000238","tested_point":"QST.IFRS15.000238","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §94"],"exercise":{"prompt":{"fr":"","en":"As a practical expedient, an entity may recognise the incremental costs of obtaining a contract as an expense when incurred if the amortisation period of the asset that would otherwise have been recognised is one year or less.","es":""},"explanation":{"fr":"","en":"IFRS 15 provides a practical expedient: incremental costs of obtaining a contract may be expensed when incurred if the amortisation period of the related asset would be one year or less (IFRS 15, para. 94). It is an option, not a requirement.","es":""},"common_error":{"fr":"","en":"Believing that the practical expedient applies whatever the amortisation period.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000239","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000239","tested_point":"QST.IFRS15.000239","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":55,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15","IFRS 15 §95"],"exercise":{"prompt":{"fr":"","en":"Fabrinox manufactures parts for a customer under contract; the costs of the parts held in inventory fall within IAS 2. Fabrinox must nevertheless apply the three IFRS 15 criteria for recognising costs to fulfil a contract as an asset to those costs.","es":""},"explanation":{"fr":"","en":"Costs to fulfil a contract that are within the scope of another standard, for example inventories, are accounted for under that other standard and not under IFRS 15 (IFRS 15, para. 96). The IFRS 15 recognition criteria apply only to fulfilment costs not covered by another standard (IFRS 15, para. 95).","es":""},"common_error":{"fr":"","en":"Applying IFRS 15 to costs within the scope of another standard.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000240","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000240","tested_point":"QST.IFRS15.000240","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":55,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §92","IFRS 15 §93"],"exercise":{"prompt":{"fr":"","en":"Pixelia, a communications agency, is analysing the costs related to signing a one-year contract with a customer. Which one is an incremental cost of obtaining the contract?","es":""},"explanation":{"fr":"","en":"An incremental cost of obtaining a contract is a cost the entity would not have incurred if the contract had not been obtained, such as a sales commission (IFRS 15, para. 92). Fixed salaries, travel for negotiations and preparing the proposal are incurred whether or not the contract is obtained: they are expenses (IFRS 15, para. 93).","es":""},"common_error":{"fr":"","en":"Capitalising negotiation costs because the contract was signed.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The sales director's fixed salary for the month of the negotiation.","es":""},"correct":false,"feedback":{"fr":"","en":"The fixed salary would have been paid without the contract: it is not incremental.","es":""}},{"id":"B","text":{"fr":"","en":"The bonus paid to the salesperson solely because of the signing.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The travel costs incurred to meet the customer before signing.","es":""},"correct":false,"feedback":{"fr":"","en":"Travel for negotiations is incurred whether or not the contract is obtained.","es":""}},{"id":"D","text":{"fr":"","en":"The cost of the mock-up presented to the customer during the pitch.","es":""},"correct":false,"feedback":{"fr":"","en":"The mock-up was produced before knowing whether the contract would be obtained: this cost is not incremental.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000241","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000241","tested_point":"QST.IFRS15.000241","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15","IFRS 15 §97"],"exercise":{"prompt":{"fr":"","en":"Before a remote monitoring contract starts, Hélionet sets up the platform that will be used to provide the service. Which of the following costs must be recognised as an expense when incurred, whatever the analysis of the other criteria?","es":""},"explanation":{"fr":"","en":"Costs that relate directly to the contract include direct labour, direct materials and allocations of costs that relate directly to the contract, such as supervision (IFRS 15, para. 97). By contrast, general and administrative costs that are not explicitly chargeable to the customer are recognised as an expense when incurred (IFRS 15, para. 98).","es":""},"common_error":{"fr":"","en":"Capitalising head office costs on the grounds that they indirectly benefit the contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The salaries of technicians assigned exclusively to the set-up.","es":""},"correct":false,"feedback":{"fr":"","en":"Direct labour is one of the costs that relate directly to the contract.","es":""}},{"id":"B","text":{"fr":"","en":"The materials consumed directly for the set-up.","es":""},"correct":false,"feedback":{"fr":"","en":"Direct materials are among the costs that relate directly to the contract.","es":""}},{"id":"C","text":{"fr":"","en":"The allocation of supervision costs that relate directly to the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"An allocation of supervision costs relating directly to the contract is a directly related cost.","es":""}},{"id":"D","text":{"fr":"","en":"Head office administrative costs, not chargeable to the customer.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000242","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000242","tested_point":"QST.IFRS15.000242","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §95"],"exercise":{"prompt":{"fr":"","en":"Costs to fulfil a contract that are not within the scope of any other standard are recognised as an asset under IFRS 15. Which conditions must be met?","es":""},"explanation":{"fr":"","en":"Fulfilment costs not covered by another standard are recognised as an asset if three cumulative conditions are met: they relate directly to an existing contract or a specifically anticipated contract, they generate or enhance resources that will be used to satisfy future performance obligations, and they are expected to be recovered (IFRS 15, para. 95). How the costs are paid and the length of the contract are not conditions.","es":""},"common_error":{"fr":"","en":"Confusing the one-year practical expedient for costs of obtaining a contract with a recognition condition for fulfilment costs.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The costs relate directly to an existing contract or to a specifically identified anticipated contract.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The costs were paid in cash before the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment of the costs is not a recognition condition.","es":""}},{"id":"C","text":{"fr":"","en":"The costs generate or enhance resources that will be used to satisfy future performance obligations.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The contract term exceeds one year.","es":""},"correct":false,"feedback":{"fr":"","en":"The contract term is not a condition for recognising fulfilment costs as an asset.","es":""}},{"id":"E","text":{"fr":"","en":"The entity expects to recover the costs.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000243","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000243","tested_point":"QST.IFRS15.000243","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15","IFRS 15 §97"],"exercise":{"prompt":{"fr":"","en":"Ondéo Services is performing an IT outsourcing contract. Which of the following costs must be recognised as an expense when incurred?","es":""},"explanation":{"fr":"","en":"The following are recognised as an expense when incurred: general and administrative costs not explicitly chargeable, costs of wasted resources not reflected in the contract price, costs that relate to performance obligations already satisfied, and costs for which it cannot be distinguished whether they relate to satisfied or unsatisfied obligations (IFRS 15, para. 98). Direct labour and an allocation of depreciation of tooling relating directly to the contract are directly related costs (IFRS 15, para. 97), which may be capitalised if the other conditions are met.","es":""},"common_error":{"fr":"","en":"Capitalising waste or costs relating to obligations already satisfied.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Direct labour spent on the migration, which will be used for future services.","es":""},"correct":false,"feedback":{"fr":"","en":"Direct labour on an activity that will serve future obligations is a directly related cost, potentially capitalisable.","es":""}},{"id":"B","text":{"fr":"","en":"A batch of servers configured in error and then scrapped, waste not reflected in the price.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The costs of fixing a module already delivered and accepted, an obligation already satisfied.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The allocation of depreciation of tooling used only for this contract.","es":""},"correct":false,"feedback":{"fr":"","en":"Depreciation of tooling relating directly to the contract is a directly related cost, potentially capitalisable.","es":""}},{"id":"E","text":{"fr":"","en":"Costs for which Ondéo cannot determine whether they relate to satisfied or unsatisfied obligations.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000244","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000505","tested_point":"VG.IFRS15.000505","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §91","IFRS 15 §92","IFRS 15 §93","IFRS 15 §94"],"exercise":{"prompt":{"fr":"","en":"Datavia signs a 3-year maintenance contract with a customer worth {contract_value}. It pays its salesperson a commission of {commission_rate} of the value of contracts signed. Before signing, it incurred external legal fees of {legal_fees} and travel costs of {travel_costs}, which would have been incurred even without obtaining the contract. Datavia expects to recover its costs and does not apply the practical expedient. What amount does it recognise as an asset for the costs of obtaining the contract?","es":""},"explanation":{"fr":"","en":"Only the commission is an incremental cost of obtaining the contract (IFRS 15, para. 92): 5% × 240,000 = 12,000, recognised as an asset because recovery is expected (IFRS 15, para. 91). The legal fees of 3,000 and the travel costs of 2,000, incurred in any event, are expenses (IFRS 15, para. 93). As the amortisation period exceeds one year, the practical expedient would not be available anyway (IFRS 15, para. 94).","es":""},"common_error":{"fr":"","en":"Also capitalising the fees and travel costs.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_value","value":"240000","unit":"EUR"},{"id":"commission_rate","value":"5","unit":"PERCENT"},{"id":"legal_fees","value":"3000","unit":"EUR"},{"id":"travel_costs","value":"2000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Contract value","es":""},"value":"240000","unit":"EUR"},{"label":{"fr":"","en":"Commission rate","es":""},"value":"5","unit":"PERCENT"},{"label":{"fr":"","en":"Legal fees","es":""},"value":"3000","unit":"EUR"},{"label":{"fr":"","en":"Travel costs","es":""},"value":"2000","unit":"EUR"}],"steps":[{"id":"CAPITALISED_COSTS","label":{"fr":"","en":"Costs of obtaining the contract recognised as an asset","es":""},"answer":12000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CAPITALISED_COSTS","meaning":{"fr":"","en":"Costs of obtaining the contract recognised as an asset","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Commission rate","es":""},"value":5,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Contract value","es":""},"value":240000,"unit":"EUR"}],"result":12000,"unit":"EUR","rationale":{"fr":"","en":"Only the commission is an incremental cost of obtaining the contract (IFRS 15, para. 92): 5% × 240,000 = 12,000, recognised as an asset because recovery is expected (IFRS 15, para. 91).","es":""}}],"references":["REF.IFRS15.91","REF.IFRS15.92","REF.IFRS15.93","REF.IFRS15.94"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000245","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000505","tested_point":"VG.IFRS15.000505","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §91","IFRS 15 §92","IFRS 15 §93"],"exercise":{"prompt":{"fr":"","en":"Telecoms operator Nordis Télécom wins a 4-year connectivity contract with a hotel chain for total consideration of {total_consideration}. An independent business introducer receives {agent_rate} of that consideration, payable only because the contract is concluded. Nordis also paid {bid_consultant_fee} to a consultant to prepare its bid, due whatever the outcome, and the fixed salary of its sales manager for the negotiation month amounts to {sales_manager_salary}. Recovery of the costs is expected. What amount does Nordis recognise as an asset?","es":""},"explanation":{"fr":"","en":"The introducer's fee is due only because the contract is concluded: it is an incremental cost (IFRS 15, para. 92), that is 3% × 850,000 = 25,500, recognised as an asset because it is recoverable (IFRS 15, para. 91). The consultant's fees, 6,000, and the fixed salary, 4,200, would have been incurred without the contract: they are recognised as expenses (IFRS 15, para. 93).","es":""},"common_error":{"fr":"","en":"Capitalising the cost of preparing the bid because the contract was won.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_consideration","value":"850000","unit":"EUR"},{"id":"agent_rate","value":"3","unit":"PERCENT"},{"id":"bid_consultant_fee","value":"6000","unit":"EUR"},{"id":"sales_manager_salary","value":"4200","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract consideration","es":""},"value":"850000","unit":"EUR"},{"label":{"fr":"","en":"Introducer's fee","es":""},"value":"3","unit":"PERCENT"},{"label":{"fr":"","en":"Consultant's fees for the bid","es":""},"value":"6000","unit":"EUR"},{"label":{"fr":"","en":"Sales manager's fixed salary","es":""},"value":"4200","unit":"EUR"}],"steps":[{"id":"CAPITALISED_COSTS","label":{"fr":"","en":"Costs of obtaining the contract recognised as an asset","es":""},"answer":25500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CAPITALISED_COSTS","meaning":{"fr":"","en":"Costs of obtaining the contract recognised as an asset","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Introducer's fee","es":""},"value":3,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Total contract consideration","es":""},"value":850000,"unit":"EUR"}],"result":25500,"unit":"EUR","rationale":{"fr":"","en":"The introducer's fee is due only because the contract is concluded: it is an incremental cost (IFRS 15, para. 92), that is 3% × 850,000 = 25,500, recognised as an asset because it is recoverable (IFRS 15, para. 91).","es":""}}],"references":["REF.IFRS15.91","REF.IFRS15.92","REF.IFRS15.93"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000246","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000506","tested_point":"VG.IFRS15.000506","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §95","IFRS 15 §97","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Cloudéa signs a 5-year managed hosting contract. Before the service starts, it carries out set-up work on its own platform that transfers no service to the customer but creates resources that will be used to provide the hosting (facts of the case); these costs are not within the scope of any other standard and are expected to be recovered. Costs incurred: labour of engineers assigned to the contract {direct_labour}; allocation of supervision relating directly to the contract {supervision}; head office administrative costs not chargeable {general_admin}; rework of a faulty configuration, waste not reflected in the price {wasted_costs}. What amount does Cloudéa recognise as an asset?","es":""},"explanation":{"fr":"","en":"The fulfilment costs meet the three recognition conditions according to the facts of the case (IFRS 15, para. 95). Direct labour and supervision relating directly to the contract are directly related costs (IFRS 15, para. 97): 48,000 + 12,000 = 60,000. The non-chargeable head office costs, 9,000, and the waste not reflected in the price, 5,000, are recognised as expenses when incurred (IFRS 15, para. 98).","es":""},"common_error":{"fr":"","en":"Capitalising waste because it was incurred for the contract.","es":""},"format":"CALCULATION","placeholders":[{"id":"direct_labour","value":"48000","unit":"EUR"},{"id":"supervision","value":"12000","unit":"EUR"},{"id":"general_admin","value":"9000","unit":"EUR"},{"id":"wasted_costs","value":"5000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Direct labour","es":""},"value":"48000","unit":"EUR"},{"label":{"fr":"","en":"Allocation of directly related supervision","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Head office administrative costs","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"Rework costs (waste)","es":""},"value":"5000","unit":"EUR"}],"steps":[{"id":"CAPITALISED_FULFILMENT_COSTS","label":{"fr":"","en":"Fulfilment costs recognised as an asset","es":""},"answer":60000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CAPITALISED_FULFILMENT_COSTS","meaning":{"fr":"","en":"Fulfilment costs recognised as an asset","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Direct labour","es":""},"value":48000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Allocation of directly related supervision","es":""},"value":12000,"unit":"EUR"}],"result":60000,"unit":"EUR","rationale":{"fr":"","en":"Direct labour and supervision relating directly to the contract are directly related costs (IFRS 15, para. 97): 48,000 + 12,000 = 60,000.","es":""}}],"references":["REF.IFRS15.95","REF.IFRS15.97","REF.IFRS15.98"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000247","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000506","tested_point":"VG.IFRS15.000506","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §95","IFRS 15","IFRS 15 §97"],"exercise":{"prompt":{"fr":"","en":"Logistics provider Logifret enters into a 6-year warehousing contract with a retailer. To prepare its warehouses, it incurs: set-up labour {setup_labour}; consumables used directly for the set-up {consumables}; an insurance premium taken out for this contract only {contract_insurance}; purchase of racking, property, plant and equipment accounted for under IAS 16, {racking}; non-chargeable overheads {overheads}. The set-up transfers no service to the customer, creates resources used for future services and its cost is recoverable (facts of the case). What amount does Logifret recognise as an asset for costs to fulfil the contract under IFRS 15?","es":""},"explanation":{"fr":"","en":"The racking falls within IAS 16 and is accounted for under that standard, not under IFRS 15 (IFRS 15, para. 96). The other costs meet the recognition conditions according to the facts of the case (IFRS 15, para. 95) when they relate directly to the contract: labour, consumables and contract-specific insurance (IFRS 15, para. 97), that is 26,000 + 7,000 + 3,000 = 36,000. The non-chargeable overheads, 8,000, are expenses (IFRS 15, para. 98).","es":""},"common_error":{"fr":"","en":"Including IAS 16 assets in the IFRS 15 asset.","es":""},"format":"CALCULATION","placeholders":[{"id":"setup_labour","value":"26000","unit":"EUR"},{"id":"consumables","value":"7000","unit":"EUR"},{"id":"contract_insurance","value":"3000","unit":"EUR"},{"id":"racking","value":"30000","unit":"EUR"},{"id":"overheads","value":"8000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Set-up labour","es":""},"value":"26000","unit":"EUR"},{"label":{"fr":"","en":"Direct consumables","es":""},"value":"7000","unit":"EUR"},{"label":{"fr":"","en":"Contract-specific insurance","es":""},"value":"3000","unit":"EUR"},{"label":{"fr":"","en":"Racking (IAS 16)","es":""},"value":"30000","unit":"EUR"},{"label":{"fr":"","en":"Non-chargeable overheads","es":""},"value":"8000","unit":"EUR"}],"steps":[{"id":"CAPITALISED_FULFILMENT_COSTS","label":{"fr":"","en":"Fulfilment costs recognised as an asset under IFRS 15","es":""},"answer":36000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CAPITALISED_FULFILMENT_COSTS","meaning":{"fr":"","en":"Fulfilment costs recognised as an asset under IFRS 15","es":""},"expression":"a + b + c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Set-up labour","es":""},"value":26000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Direct consumables","es":""},"value":7000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Contract-specific insurance","es":""},"value":3000,"unit":"EUR"}],"result":36000,"unit":"EUR","rationale":{"fr":"","en":"The other costs meet the recognition conditions according to the facts of the case (IFRS 15, para. 95) when they relate directly to the contract: labour, consumables and contract-specific insurance (IFRS 15, para. 97), that is 26,000 + 7,000 + 3,000 = 36,000.","es":""}}],"references":["REF.IFRS15.95","REF.IFRS15.96","REF.IFRS15.97","REF.IFRS15.98"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000250","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000250","tested_point":"QST.IFRS15.000250","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §94","IFRS 15 §91"],"exercise":{"prompt":{"fr":"","en":"Rapidéco signs a 9-month event organisation contract and pays its salesperson a commission of 2,500 linked to the signing. The related asset, if recognised, would be amortised over those 9 months. What treatment does IFRS 15 permit?","es":""},"explanation":{"fr":"","en":"A commission linked to the signing is an incremental cost, normally recognised as an asset if it is recoverable (IFRS 15, para. 91). As a practical expedient, however, the entity may expense it when incurred if the amortisation period of the asset is one year or less (IFRS 15, para. 94); this is the case here with 9 months. Whether to apply this option is Rapidéco's choice.","es":""},"common_error":{"fr":"","en":"Believing that the practical expedient is mandatory.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Rapidéco must recognise the commission as an asset and amortise it over 9 months.","es":""},"correct":false,"feedback":{"fr":"","en":"Capitalisation is not mandatory here: the practical expedient allows the commission to be expensed.","es":""}},{"id":"B","text":{"fr":"","en":"Rapidéco may recognise the commission as an expense when incurred.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The commission must be expensed, because commissions are never recognised as assets.","es":""},"correct":false,"feedback":{"fr":"","en":"Incremental, recoverable commissions are normally recognised as assets; the expense here results from an option.","es":""}},{"id":"D","text":{"fr":"","en":"The commission must be deducted from the transaction price of the event organisation contract.","es":""},"correct":false,"feedback":{"fr":"","en":"A commission paid to the salesperson is a cost of obtaining the contract, not a reduction of the transaction price.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000251","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000251","tested_point":"QST.IFRS15.000251","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §91","IFRS 15 §92"],"exercise":{"prompt":{"fr":"","en":"To enter a new market, Belvue Ingénierie has accepted a fixed-price contract whose expected consideration will not cover the expected fulfilment costs. It pays its salesperson a commission of 15,000 linked to the signing. Management has concluded, on the basis of its budgets (fact of the case), that it does not expect to recover this commission. Fact of the case: the provision for the onerous contract under IAS 37 is recognised separately and is not part of the question. What treatment applies?","es":""},"explanation":{"fr":"","en":"The commission linked to the signing is an incremental cost (IFRS 15, para. 92), but it is recognised as an asset only if the entity expects to recover it (IFRS 15, para. 91). As management has concluded that recovery is not expected, the commission of 15,000 is recognised as an expense. The conclusion on recovery is Belvue's judgement, given in the case.","es":""},"common_error":{"fr":"","en":"Capitalising an incremental cost without checking that it is recoverable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognise it as an asset, since it is an incremental commission linked to signing the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"Being incremental is not enough: recognition as an asset also requires expected recovery.","es":""}},{"id":"B","text":{"fr":"","en":"Deduct it from the transaction price of the contract, since it reduces the expected margin on it.","es":""},"correct":false,"feedback":{"fr":"","en":"A commission paid to the salesperson is a cost of obtaining the contract, not a reduction of the transaction price.","es":""}},{"id":"C","text":{"fr":"","en":"Recognise it as an expense, as recovery is not expected.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Recognise it as an asset, because the practical expedient applies only to contracts of one year or less.","es":""},"correct":false,"feedback":{"fr":"","en":"The practical expedient not being available does not require capitalisation: the recovery condition still applies.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000252","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000252","tested_point":"QST.IFRS15.000252","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Bâtiplus is performing a contract with two performance obligations: the structural work phase, already satisfied and accepted in March 20X1, and the finishing work phase, in progress. In June 20X1, it incurs 14,000 of rework on the structural work and 6,000 of site costs for which it cannot determine whether they relate to one phase or the other. What treatment applies to these two amounts?","es":""},"explanation":{"fr":"","en":"Costs that relate to performance obligations already satisfied, and costs for which the entity cannot distinguish whether they relate to satisfied or unsatisfied obligations, are recognised as an expense when incurred (IFRS 15, para. 98). The 14,000 of rework on the structural work and the 6,000 of unattributable costs are therefore both expenses.","es":""},"common_error":{"fr":"","en":"Capitalising costs that relate to an obligation already satisfied.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognise both amounts as an asset as costs to fulfil the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"None of these costs identifiably prepares future obligations: they cannot be capitalised.","es":""}},{"id":"B","text":{"fr":"","en":"Recognise both amounts as an expense when incurred.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Recognise the 6,000 of unattributable costs as an asset and expense the 14,000 of rework.","es":""},"correct":false,"feedback":{"fr":"","en":"Costs for which the obligation concerned cannot be determined are expenses, not an asset.","es":""}},{"id":"D","text":{"fr":"","en":"Recognise the 14,000 of rework, which relates to the contract, as an asset and expense the 6,000 of costs.","es":""},"correct":false,"feedback":{"fr":"","en":"The rework relates to an obligation already satisfied: it is an expense, even though it relates to the contract.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000253","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000253","tested_point":"QST.IFRS15.000253","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §95","IFRS 15 §97","IFRS 15 §92"],"exercise":{"prompt":{"fr":"","en":"In November 20X1, Médisoft incurs 22,000 of direct labour to design the configurations that will be used to operate the information system of a specifically identified hospital, with which a 4-year services contract is expected to be signed in January 20X2. The configurations will be used to provide the future services, these costs are not within the scope of any other standard and Médisoft expects to recover them (facts of the case). How should these 22,000 be treated at 31 December 20X1?","es":""},"explanation":{"fr":"","en":"Fulfilment costs not covered by another standard are recognised as an asset if they relate directly to an existing or specifically anticipated contract, generate resources used for future performance obligations and are recoverable (IFRS 15, para. 95). Direct labour is a directly related cost (IFRS 15, para. 97). These costs are fulfilment costs, not incremental costs of obtaining a contract, which are those the entity would not have incurred if the contract had not been obtained, such as a commission (IFRS 15, para. 92).","es":""},"common_error":{"fr":"","en":"Requiring the contract to be signed before capitalising fulfilment costs.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Expense them, as no contract has yet been signed at 31 December 20X1.","es":""},"correct":false,"feedback":{"fr":"","en":"A specifically anticipated contract is enough: signing is not a prerequisite.","es":""}},{"id":"B","text":{"fr":"","en":"Recognise them as an asset as costs to fulfil a specifically anticipated contract.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Recognise them as an asset as incremental costs of obtaining the contract, like a sales commission paid on signing.","es":""},"correct":false,"feedback":{"fr":"","en":"These costs are used to fulfil the contract; they are not costs of obtaining it.","es":""}},{"id":"D","text":{"fr":"","en":"Recognise them as an asset only if the contract is signed before the reporting date, otherwise expense them until signing.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard also covers specifically anticipated contracts; signing before the reporting date is not required.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000254","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000254","tested_point":"QST.IFRS15.000254","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15 §100","IFRS 15 §99"],"exercise":{"prompt":{"fr":"","en":"Valdrome amortises an asset recognised from the costs of obtaining a contract. During the second year, it finds that the expected timing of transfer of the services to the customer has changed significantly. It must restate the amortisation of prior periods in the same way as an error is corrected.","es":""},"explanation":{"fr":"","en":"When the expected timing of transfer of the goods or services to which the asset relates changes significantly, the entity updates the amortisation; this change is a change in accounting estimate in accordance with IAS 8, not the correction of an error (IFRS 15, para. 100). Amortisation must remain consistent with the pattern of transfer of the services to the customer (IFRS 15, para. 99).","es":""},"common_error":{"fr":"","en":"Treating the revision of the amortisation pattern as the correction of an error.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000255","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000255","tested_point":"QST.IFRS15.000255","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15 §99"],"exercise":{"prompt":{"fr":"","en":"Ardelis pays its salesperson a commission of 6,000 on signing a 2-year maintenance contract. Based on its history, Ardelis has specifically identified an anticipated renewal for 2 additional years, for which no commission will be paid. The services are provided evenly and the commission meets the conditions for recognition as an asset. Over what period is the asset amortised?","es":""},"explanation":{"fr":"","en":"The asset is amortised on a systematic basis consistent with the transfer to the customer of the services to which it relates, including those of a specifically identified anticipated contract (IFRS 15, para. 99). Here, the commission also relates to the anticipated renewal, for which no new commission will be paid: amortisation therefore covers 4 years. The identification of the anticipated renewal is case data, based on Ardelis's judgement; the standard does not set a period of 4 years in general.","es":""},"common_error":{"fr":"","en":"Amortising the commission over the initial contract term only when a renewal without commission is anticipated.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Over 2 years, the term of the signed contract only.","es":""},"correct":false,"feedback":{"fr":"","en":"This period ignores the specifically identified anticipated renewal, to which the commission also relates.","es":""}},{"id":"B","text":{"fr":"","en":"Over 4 years: initial contract and anticipated renewal.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"In full in the year of signature, since the commission is paid in a single instalment.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment in a single instalment does not determine amortisation: the asset follows the transfer of the services over time.","es":""}},{"id":"D","text":{"fr":"","en":"Over the estimated life of the relationship with this customer, without reference to the planned services.","es":""},"correct":false,"feedback":{"fr":"","en":"Amortisation relates to the specific services of the contract and the anticipated renewal, not to an open-ended relationship.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000256","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000601","tested_point":"VG.IFRS15.000601","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15 §99"],"exercise":{"prompt":{"fr":"","en":"Brenval pays a commission of {commission} to a business introducer to obtain an IT hosting contract with a term of {initial_term} years. Brenval has specifically identified an anticipated renewal with a term of {renewal_term} year, for which no commission will be due. The service is provided evenly over time; Brenval therefore uses straight-line amortisation. Calculate the annual amortisation charge of the asset recognised from the costs of obtaining the contract.","es":""},"explanation":{"fr":"","en":"The asset is amortised consistently with the transfer of the services to which it relates, including those of a specifically identified anticipated contract (IFRS 15, para. 99). The commission therefore covers 3 + 1 = 4 years of service; with an even service (case data), the annual charge is 12,000 / 4 = 3,000.","es":""},"common_error":{"fr":"","en":"Dividing the commission by the initial contract term only (4,000 per year).","es":""},"format":"CALCULATION","placeholders":[{"id":"commission","value":"12000","unit":"EUR"},{"id":"initial_term","value":"3","unit":"YEARS"},{"id":"renewal_term","value":"1","unit":"YEARS"}],"data":[{"label":{"fr":"","en":"Commission paid to obtain the contract","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Term of the initial contract","es":""},"value":"3","unit":"YEARS"},{"label":{"fr":"","en":"Term of the anticipated renewal","es":""},"value":"1","unit":"YEARS"}],"steps":[{"id":"ANNUAL_AMORTISATION","label":{"fr":"","en":"Annual amortisation charge","es":""},"answer":3000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ANNUAL_AMORTISATION","meaning":{"fr":"","en":"Annual amortisation charge","es":""},"expression":"a / (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Commission paid to obtain the contract","es":""},"value":12000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Term of the initial contract","es":""},"value":3,"unit":"YEARS"},{"symbol":"c","meaning":{"fr":"","en":"Term of the anticipated renewal","es":""},"value":1,"unit":"YEARS"}],"result":3000,"unit":"EUR"}],"rationale":{"fr":"","en":"The asset is amortised consistently with the transfer of the services to which it relates, including those of a specifically identified anticipated contract (IFRS 15, para. 99).","es":""},"references":["REF.IFRS15.99"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000257","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000601","tested_point":"VG.IFRS15.000601","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15 §99"],"exercise":{"prompt":{"fr":"","en":"On 1 April 20X1, Corvelle signs a remote monitoring subscription of {initial_term} months and pays its sales agent a commission of {commission}, recognised as an asset. Corvelle anticipates a specifically identified extension of {renewal_term} months, with no new commission. The service is provided evenly every month. Corvelle's reporting date is 31 December. What is the amortisation expense of this asset for the year 20X1?","es":""},"explanation":{"fr":"","en":"The asset is amortised consistently with the transfer of the services to which it relates, including the specifically identified anticipated extension (IFRS 15, para. 99). Period covered: 24 + 12 = 36 months, that is 9,000 / 36 = 250 per month. As the service is even (case data), the 20X1 expense covers 9 months (April to December): 250 × 9 = 2,250.","es":""},"common_error":{"fr":"","en":"Amortising over 24 months only (3,375).","es":""},"format":"CALCULATION","placeholders":[{"id":"commission","value":"9000","unit":"EUR"},{"id":"initial_term","value":"24","unit":"MONTHS"},{"id":"renewal_term","value":"12","unit":"MONTHS"}],"data":[{"label":{"fr":"","en":"Commission recognised as an asset","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"Term of the signed subscription","es":""},"value":"24","unit":"MONTHS"},{"label":{"fr":"","en":"Term of the anticipated extension","es":""},"value":"12","unit":"MONTHS"}],"steps":[{"id":"AMORTISATION_20X1","label":{"fr":"","en":"Amortisation expense for 20X1","es":""},"answer":2250,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"AMORTISATION_20X1","meaning":{"fr":"","en":"Amortisation expense for 20X1","es":""},"expression":"(a / (b + c)) * 9","variables":[{"symbol":"a","meaning":{"fr":"","en":"Commission recognised as an asset","es":""},"value":9000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Term of the signed subscription","es":""},"value":24,"unit":"MONTHS"},{"symbol":"c","meaning":{"fr":"","en":"Term of the anticipated extension","es":""},"value":12,"unit":"MONTHS"}],"result":2250,"unit":"EUR"}],"rationale":{"fr":"","en":"The asset is amortised consistently with the transfer of the services to which it relates, including the specifically identified anticipated extension (IFRS 15, para. 99).","es":""},"references":["REF.IFRS15.99"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000258","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000602","tested_point":"VG.IFRS15.000602","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"At 31 December 20X1, Doravel holds an asset recognised from the costs to fulfil a software development contract, with a carrying amount of {carrying_amount}. It still expects to receive {remaining_consideration} for the services to which this asset relates. The costs that relate directly to providing those services and have not yet been recognised as expenses are estimated at {remaining_costs}. Calculate the impairment loss to be recognised.","es":""},"explanation":{"fr":"","en":"An impairment loss is recognised in profit or loss for the excess of the carrying amount over the consideration still to be received, less the directly related costs not yet recognised as expenses (IFRS 15, para. 101). Comparison amount: 150,000 − 125,000 = 25,000. Impairment loss: 40,000 − 25,000 = 15,000, recognised by debiting an impairment expense and crediting the asset.","es":""},"common_error":{"fr":"","en":"Comparing the carrying amount with the remaining consideration only, without deducting the costs.","es":""},"format":"CALCULATION","placeholders":[{"id":"carrying_amount","value":"40000","unit":"EUR"},{"id":"remaining_consideration","value":"150000","unit":"EUR"},{"id":"remaining_costs","value":"125000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Carrying amount of the asset","es":""},"value":"40000","unit":"EUR"},{"label":{"fr":"","en":"Consideration still to be received","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Directly related costs not yet recognised as expenses","es":""},"value":"125000","unit":"EUR"}],"steps":[{"id":"IMPAIRMENT_LOSS","label":{"fr":"","en":"Impairment loss","es":""},"answer":15000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"IMPAIRMENT_LOSS","meaning":{"fr":"","en":"Impairment loss","es":""},"expression":"a - (b - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount of the asset","es":""},"value":40000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Consideration still to be received","es":""},"value":150000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Directly related costs not yet recognised as expenses","es":""},"value":125000,"unit":"EUR"}],"result":15000,"unit":"EUR"}],"rationale":{"fr":"","en":"An impairment loss is recognised in profit or loss for the excess of the carrying amount over the consideration still to be received, less the directly related costs not yet recognised as expenses (IFRS 15, para. 101).","es":""},"references":["REF.IFRS15.101"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000259","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000602","tested_point":"VG.IFRS15.000602","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15","IFRS 15 §102"],"exercise":{"prompt":{"fr":"","en":"Estenor has recognised as an asset the set-up costs of a logistics contract; at 31 December 20X2, their carrying amount is {carrying_amount}. For the services still to be provided, Estenor still expects a fixed fee of {fixed_consideration} and a performance bonus whose most likely amount is estimated at {variable_bonus}; this bonus is excluded from the transaction price because of the constraint on variable consideration. Given the customer's credit risk, Estenor estimates that it will not recover {credit_risk_adjustment} of this consideration. The costs that relate directly to the remaining services and have not yet been recognised as expenses amount to {remaining_costs}. Calculate the impairment loss on the asset.","es":""},"explanation":{"fr":"","en":"For this test, the expected consideration follows the principles for determining the transaction price, without applying the constraint on variable consideration, but adjusted for the customer's credit risk (IFRS 15, para. 102). Expected consideration: 60,000 + 8,000 − 3,000 = 65,000; less the directly related costs not yet recognised as expenses: 65,000 − 54,000 = 11,000. Impairment loss: 18,000 − 11,000 = 7,000 (IFRS 15, para. 101). The choice of the most likely amount and the quantification of credit risk are case data.","es":""},"common_error":{"fr":"","en":"Excluding the constrained bonus (loss of 15,000).","es":""},"format":"CALCULATION","placeholders":[{"id":"carrying_amount","value":"18000","unit":"EUR"},{"id":"fixed_consideration","value":"60000","unit":"EUR"},{"id":"variable_bonus","value":"8000","unit":"EUR"},{"id":"credit_risk_adjustment","value":"3000","unit":"EUR"},{"id":"remaining_costs","value":"54000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Carrying amount of the asset","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Fixed fee still to be received","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Estimated performance bonus (most likely amount)","es":""},"value":"8000","unit":"EUR"},{"label":{"fr":"","en":"Estimated amount not recoverable because of credit risk","es":""},"value":"3000","unit":"EUR"},{"label":{"fr":"","en":"Directly related costs not yet recognised as expenses","es":""},"value":"54000","unit":"EUR"}],"steps":[{"id":"IMPAIRMENT_LOSS","label":{"fr":"","en":"Impairment loss","es":""},"answer":7000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"IMPAIRMENT_LOSS","meaning":{"fr":"","en":"Impairment loss","es":""},"expression":"a - ((b + c - d) - e)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Carrying amount of the asset","es":""},"value":18000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Fixed fee still to be received","es":""},"value":60000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Estimated performance bonus (most likely amount)","es":""},"value":8000,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Estimated amount not recoverable because of credit risk","es":""},"value":3000,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Directly related costs not yet recognised as expenses","es":""},"value":54000,"unit":"EUR"}],"result":7000,"unit":"EUR"}],"rationale":{"fr":"","en":"For this test, the expected consideration follows the principles for determining the transaction price, without applying the constraint on variable consideration, but adjusted for the customer's credit risk (IFRS 15, para. 102).","es":""},"references":["REF.IFRS15.101","REF.IFRS15.102"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000262","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000262","tested_point":"QST.IFRS15.000262","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15 §104"],"exercise":{"prompt":{"fr":"","en":"Iselor recognised as an asset a commission of 24,000, amortised on a straight-line basis over 4 years from 1 January 20X1. At the end of 20X1, after amortisation of 6,000, it reduced the asset from 18,000 to 12,000 through an impairment loss of 6,000. In 20X2, amortisation is 4,000 (12,000 spread over 3 years) and the carrying amount reaches 8,000. At the end of 20X2, the impairment conditions have clearly improved: the remaining expected consideration, less the directly related costs not yet recognised as expenses, amounts to 20,000. What reversal does Iselor recognise in profit or loss?","es":""},"explanation":{"fr":"","en":"The reversal of a previous impairment loss is recognised in profit or loss when the impairment conditions no longer exist or have improved, but the carrying amount cannot exceed the amount, net of amortisation, that would have existed without impairment (IFRS 15, para. 104). Without impairment, the asset would be worth at the end of 20X2: 24,000 − 2 × 6,000 = 12,000. The reversal is therefore limited to 12,000 − 8,000 = 4,000, even though the comparison amount reaches 20,000.","es":""},"common_error":{"fr":"","en":"Reversing the loss up to the new comparison amount, with no cap.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"12,000, to bring the asset up to 20,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The reversal cannot bring the asset above the carrying amount that would have existed without impairment (12,000).","es":""}},{"id":"B","text":{"fr":"","en":"4,000.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"6,000, that is the whole initial impairment loss.","es":""},"correct":false,"feedback":{"fr":"","en":"Reversing the whole initial loss ignores the amortisation that would have been recognised in 20X2 without impairment.","es":""}},{"id":"D","text":{"fr":"","en":"None: an impairment loss on such an asset can never be reversed.","es":""},"correct":false,"feedback":{"fr":"","en":"A reversal is permitted when the impairment conditions no longer exist or have improved.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000263","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT_COSTS.AMORTISATION_IMPAIRMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000263","tested_point":"QST.IFRS15.000263","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"amortisation"},"references":["IFRS 15","IFRS 15 §102"],"exercise":{"prompt":{"fr":"","en":"Hautvallon tests for impairment an asset recognised from the costs to fulfil a services contract. Which statements about this test are correct?","es":""},"explanation":{"fr":"","en":"An impairment loss is recognised when the carrying amount exceeds the remaining consideration expected for the related goods or services, less the directly related costs not yet recognised as expenses (IFRS 15, para. 101). That consideration is determined using the transaction price principles, without the constraint on variable consideration, but adjusted for credit risk (IFRS 15, para. 102). Impairment losses on contract-related assets within the scope of other standards are recognised first (IFRS 15, para. 103).","es":""},"common_error":{"fr":"","en":"Applying the constraint on variable consideration in the impairment test.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The expected variable consideration is taken into account without applying the constraint on variable consideration.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The expected consideration is adjusted for the customer's credit risk.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The costs that relate directly to providing the services and have not yet been recognised as expenses are deducted from the remaining expected consideration.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Only the variable consideration already included in the transaction price after the constraint is taken into account.","es":""},"correct":false,"feedback":{"fr":"","en":"The test does not apply the constraint: the expected variable consideration is included even if it is excluded from the transaction price.","es":""}},{"id":"E","text":{"fr":"","en":"Impairment losses on contract-related assets within the scope of other standards, for example inventories, are recognised before this test.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"The consideration for the whole contract is used, including that for the services already provided and recognised as revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"Only the remaining consideration expected for the goods or services to which the asset relates is used.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000264","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000264","tested_point":"QST.IFRS15.000264","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §106"],"exercise":{"prompt":{"fr":"","en":"On 15 January 20X1, Jarnac receives from a customer an advance payment of 20,000 for equipment that will only be delivered in March. On the date it receives the advance, Jarnac presents a contract liability.","es":""},"explanation":{"fr":"","en":"When the customer pays before the entity transfers the good or service, the contract is presented as a contract liability when the payment is made, or when it is due if earlier (IFRS 15, para. 106). The advance of 20,000 represents the obligation to deliver the equipment in March.","es":""},"common_error":{"fr":"","en":"Recognising the advance as revenue as soon as it is received.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000265","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000265","tested_point":"QST.IFRS15.000265","difficulty":"BEGINNER","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §107","IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"Kervian has completed the first phase of a project and recognised the related revenue. Under the contract, it can only invoice this phase after completing the second one. Kervian presents its right to consideration for the first phase as a receivable.","es":""},"explanation":{"fr":"","en":"A receivable is an unconditional right to consideration, whose payment becomes due only with the passage of time (IFRS 15, para. 108). Here, the right still depends on the completion of the second phase: it is a right conditioned on something other than the passage of time, presented as a contract asset (IFRS 15, para. 107).","es":""},"common_error":{"fr":"","en":"Presenting as a receivable a right still conditioned on future performance.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000266","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000266","tested_point":"QST.IFRS15.000266","difficulty":"BEGINNER","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"Under IFRS 15, what is a receivable?","es":""},"explanation":{"fr":"","en":"A receivable is an unconditional right to consideration: only the passage of time is required before payment is due (IFRS 15, para. 108). A right that still depends on future performance is a contract asset, and the probability of collection does not define a receivable.","es":""},"common_error":{"fr":"","en":"Confusing a receivable with a contract asset.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Any right to consideration arising from performance already completed, even if payment still depends on future performance.","es":""},"correct":false,"feedback":{"fr":"","en":"A right still subject to future performance is conditional: it is a contract asset.","es":""}},{"id":"B","text":{"fr":"","en":"An unconditional right to consideration, whose payment becomes due only with the passage of time.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The total price still to be collected when the contract is signed.","es":""},"correct":false,"feedback":{"fr":"","en":"At signature, neither party has performed yet: the remaining price is not a receivable.","es":""}},{"id":"D","text":{"fr":"","en":"A right to consideration whose collection is judged highly probable.","es":""},"correct":false,"feedback":{"fr":"","en":"The unconditional nature of the right, not the probability of collection, defines a receivable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000267","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000267","tested_point":"QST.IFRS15.000267","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §105","IFRS 15 §107"],"exercise":{"prompt":{"fr":"","en":"Lormel sells two machines to a customer for 80,000; each machine is a separate performance obligation, to which a price of 40,000 is allocated. Payment only becomes due after delivery of the second machine. At 30 June 20X1, only the first machine has been delivered and Lormel has recognised revenue of 40,000. How does it present its right at that date?","es":""},"explanation":{"fr":"","en":"When the entity has performed before payment becomes due, it presents a contract asset: its right to consideration is conditioned on something other than the passage of time, here the delivery of the second machine (IFRS 15, para. 105 and 107). Lormel therefore presents a contract asset of 40,000.","es":""},"common_error":{"fr":"","en":"Presenting as a receivable a right to consideration still conditioned on future performance.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a receivable of 40,000, since the first machine has been delivered.","es":""},"correct":false,"feedback":{"fr":"","en":"The right still depends on the delivery of the second machine: it is not unconditional.","es":""}},{"id":"B","text":{"fr":"","en":"As a contract asset of 40,000.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It presents nothing as long as payment is not due; revenue is deferred.","es":""},"correct":false,"feedback":{"fr":"","en":"Revenue for the first machine is recognised; the related right is presented as a contract asset.","es":""}},{"id":"D","text":{"fr":"","en":"As a contract liability of 40,000, as the second machine remains to be delivered.","es":""},"correct":false,"feedback":{"fr":"","en":"The customer has paid nothing and no amount is due: there is no contract liability.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000268","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000268","tested_point":"QST.IFRS15.000268","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §106","IFRS 15 §107","IFRS 15 §108","IFRS 15 §109"],"exercise":{"prompt":{"fr":"","en":"The chief financial officer of Montbrel is preparing the presentation of balances arising from contracts with customers. Which statements are correct?","es":""},"explanation":{"fr":"","en":"A receivable is an unconditional right, with only the passage of time remaining (IFRS 15, para. 108). A contract asset is a right conditioned on something other than time, and its impairment follows the IFRS 9 requirements for financial assets (IFRS 15, para. 107). Other labels are permitted if the information distinguishes receivables from contract assets (IFRS 15, para. 109). A contract liability arises on payment or, if earlier, when the amount is due (IFRS 15, para. 106).","es":""},"common_error":{"fr":"","en":"Presenting as a receivable a right still conditioned on future performance.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A receivable is a right to consideration whose payment becomes due only with the passage of time.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A contract asset is a right to consideration conditioned on something other than the passage of time, for example future performance.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"A contract asset is presented within receivables as soon as the invoice will be issued within 30 days.","es":""},"correct":false,"feedback":{"fr":"","en":"The expected invoicing date does not make the right unconditional: as long as a condition other than time remains, it is a contract asset.","es":""}},{"id":"D","text":{"fr":"","en":"Impairment of a contract asset is measured, presented and disclosed in the same way as for a financial asset within the scope of IFRS 9.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Montbrel may use a label other than contract asset, provided it gives sufficient information to distinguish receivables from contract assets.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"A contract liability only arises on receipt of cash: an amount due but unpaid before transfer is never taken into account.","es":""},"correct":false,"feedback":{"fr":"","en":"A contract liability is presented when the payment is made or the amount is due, whichever is earlier.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000269","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000604","tested_point":"VG.IFRS15.000604","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §105","IFRS 15 §107"],"exercise":{"prompt":{"fr":"","en":"Mirabel is building a warehouse for a customer; the performance obligation is satisfied over time. At 31 December 20X1, cumulative revenue recognised since inception amounts to {cumulative_revenue}. The amounts invoiced to the customer, all of which have become due and are presented as receivables, total {cumulative_billings}. Mirabel has no other contract with this customer. Calculate the contract asset balance at 31 December 20X1.","es":""},"explanation":{"fr":"","en":"The contract is presented as a contract asset or a contract liability depending on the relationship between the entity's performance and the amounts invoiced or paid; unconditional rights are presented separately as receivables (IFRS 15, para. 105). Performance exceeds the amounts due: 340,000 − 300,000 = 40,000 of contract asset, a right still conditioned on the continuation of the work (IFRS 15, para. 107).","es":""},"common_error":{"fr":"","en":"Presenting the 340,000 as a receivable.","es":""},"format":"CALCULATION","placeholders":[{"id":"cumulative_revenue","value":"340000","unit":"EUR"},{"id":"cumulative_billings","value":"300000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Cumulative revenue recognised","es":""},"value":"340000","unit":"EUR"},{"label":{"fr":"","en":"Amounts invoiced and due (cumulative)","es":""},"value":"300000","unit":"EUR"}],"steps":[{"id":"CONTRACT_ASSET","label":{"fr":"","en":"Contract asset","es":""},"answer":40000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CONTRACT_ASSET","meaning":{"fr":"","en":"Contract asset","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Cumulative revenue recognised","es":""},"value":340000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Amounts invoiced and due (cumulative)","es":""},"value":300000,"unit":"EUR"}],"result":40000,"unit":"EUR","rationale":{"fr":"","en":"Performance exceeds the amounts due: 340,000 − 300,000 = 40,000 of contract asset, a right still conditioned on the continuation of the work (IFRS 15, para. 107).","es":""}}],"references":["REF.IFRS15.105","REF.IFRS15.107"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000270","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000604","tested_point":"VG.IFRS15.000604","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §105","IFRS 15 §106"],"exercise":{"prompt":{"fr":"","en":"Norvane is developing bespoke software for a hospital under a performance obligation satisfied over time. The contract provides for milestone payments made in advance. At 31 December 20X2, Norvane has collected a total of {amounts_received} and no other amount is due; revenue recognised since the start of the contract reaches {revenue_to_date}. What net contract balance does Norvane present in its statement of financial position at that date?","es":""},"explanation":{"fr":"","en":"The contract is presented as a contract asset or a contract liability depending on the relationship between the entity's performance and the customer's payments (IFRS 15, para. 105). Payments received exceed performance to date: the excess, 610,000 − 520,000 = 90,000, relates to goods or services still to be provided and is a contract liability (IFRS 15, para. 106).","es":""},"common_error":{"fr":"","en":"Presenting a contract asset of 90,000.","es":""},"format":"CALCULATION","placeholders":[{"id":"revenue_to_date","value":"520000","unit":"EUR"},{"id":"amounts_received","value":"610000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Revenue recognised since inception","es":""},"value":"520000","unit":"EUR"},{"label":{"fr":"","en":"Payments collected (cumulative)","es":""},"value":"610000","unit":"EUR"}],"steps":[{"id":"CONTRACT_LIABILITY","label":{"fr":"","en":"Contract liability","es":""},"answer":90000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"CONTRACT_LIABILITY","meaning":{"fr":"","en":"Contract liability","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Payments collected (cumulative)","es":""},"value":610000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue recognised since inception","es":""},"value":520000,"unit":"EUR"}],"result":90000,"unit":"EUR","rationale":{"fr":"","en":"Payments received exceed performance to date: the excess, 610,000 − 520,000 = 90,000, relates to goods or services still to be provided and is a contract liability (IFRS 15, para. 106).","es":""}}],"references":["REF.IFRS15.105","REF.IFRS15.106"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000275","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000275","tested_point":"QST.IFRS15.000275","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §105","IFRS 15 §106","IFRS 15 §107"],"exercise":{"prompt":{"fr":"","en":"Saulmont sells equipment and its installation for 50,000. Two performance obligations are identified: the equipment (allocated price 35,000), handed over to the customer on 31 March 20X1, and the installation (allocated price 15,000), planned for May. The customer paid 10,000 on signing; the balance of 40,000 will only be due on completion of the installation. At 31 March 20X1, after handing over the equipment, what balance does Saulmont present for this contract?","es":""},"explanation":{"fr":"","en":"Once either party has performed, the contract is presented as a contract asset or a contract liability depending on the relationship between the entity's performance and the customer's payment (IFRS 15, para. 105). The advance of 10,000 had first been presented as a contract liability (IFRS 15, para. 106). At 31 March, performance (35,000) exceeds payment (10,000): the net contract position is a contract asset of 25,000, a right still conditioned on the installation (IFRS 15, para. 107).","es":""},"common_error":{"fr":"","en":"Presenting the advance and the performance separately for a single contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A contract asset of 25,000.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A receivable of 25,000, as the equipment has been handed over to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The balance is only due after installation: the right remains conditional, it is not a receivable.","es":""}},{"id":"C","text":{"fr":"","en":"A contract asset of 35,000 and, separately, a contract liability of 10,000 for the advance.","es":""},"correct":false,"feedback":{"fr":"","en":"A single contract is presented at its net position, contract asset or contract liability, not as two separate balances.","es":""}},{"id":"D","text":{"fr":"","en":"A receivable of 35,000 and a contract liability of 10,000, the advance remaining owed for the installation.","es":""},"correct":false,"feedback":{"fr":"","en":"The right relating to the equipment is conditioned on the installation, and the contract position is presented net.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000276","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000276","tested_point":"QST.IFRS15.000276","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §105"],"exercise":{"prompt":{"fr":"","en":"Tarvel has entered into two separate contracts with the same customer, which do not meet the conditions to be combined. At 31 December 20X1, the maintenance contract shows a contract asset of 12,000; the training contract, paid in advance, shows a contract liability of 8,000. Case data: the presentation adopted by Tarvel does not offset balances arising from different contracts against each other. How does Tarvel present these balances in its statement of financial position?","es":""},"explanation":{"fr":"","en":"Presentation as a contract asset or a contract liability results, for each contract, from the relationship between the entity's performance and the customer's payment (IFRS 15, para. 105). As the two contracts are not combined, each keeps its own position. Under the presentation adopted for the case, these positions are not offset against each other: Tarvel presents a contract asset of 12,000 and a contract liability of 8,000; the fact that the customer is the same does not change this analysis.","es":""},"common_error":{"fr":"","en":"Offsetting contract assets and contract liabilities of different contracts that are not combined.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A net contract asset of 4,000, since the customer is the same.","es":""},"correct":false,"feedback":{"fr":"","en":"Each contract that is not combined has its own position and the presentation adopted for the case excludes offsetting between contracts; the identity of the customer makes no difference.","es":""}},{"id":"B","text":{"fr":"","en":"A net contract liability of 4,000, as prudence requires the least favourable position.","es":""},"correct":false,"feedback":{"fr":"","en":"Prudence does not justify a net position: each contract has its own position and the presentation adopted for the case excludes offsetting between contracts.","es":""}},{"id":"C","text":{"fr":"","en":"A contract asset of 12,000 and a contract liability of 8,000.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A receivable of 12,000 and a contract liability of 8,000, as the customer is creditworthy.","es":""},"correct":false,"feedback":{"fr":"","en":"The customer's creditworthiness does not turn a conditional right into a receivable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000277","standard_id":"IFRS15","concept_ids":["IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000277","tested_point":"QST.IFRS15.000277","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §108"],"exercise":{"prompt":{"fr":"","en":"Ubrac delivers goods and recognises revenue of 50,000; its right to consideration is unconditional. Under IFRS 9 (case data, not tested here), the receivable is measured at 49,200 on initial recognition. How does Ubrac treat the difference of 800?","es":""},"explanation":{"fr":"","en":"The receivable is accounted for under IFRS 9; on initial recognition, any difference between its measurement and the amount of revenue recognised is presented as an expense, for example an impairment loss (IFRS 15, para. 108). Ubrac therefore keeps revenue of 50,000 and presents an expense of 800.","es":""},"common_error":{"fr":"","en":"Reducing revenue by the initial measurement difference on the receivable.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It reduces revenue to 49,200 to align it with the receivable.","es":""},"correct":false,"feedback":{"fr":"","en":"The difference is not deducted from revenue: it is presented as an expense.","es":""}},{"id":"B","text":{"fr":"","en":"It keeps the receivable at 50,000, the amount of revenue recognised, ignoring the measurement under IFRS 9.","es":""},"correct":false,"feedback":{"fr":"","en":"The receivable falls under IFRS 9: its measurement under that standard applies.","es":""}},{"id":"C","text":{"fr":"","en":"It presents the difference of 800 as an expense, for example an impairment loss.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It recognises the difference as a contract asset until the receivable is collected.","es":""},"correct":false,"feedback":{"fr":"","en":"A measurement difference on the receivable is not a conditional right: it is not a contract asset.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000278","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000278","tested_point":"QST.IFRS15.000278","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The Quintal group earns revenue from contracts with customers and rentals received as a lessor; these two sources are not presented separately in the statement of comprehensive income. Quintal must disclose in the notes the revenue from contracts with customers separately from its other sources of revenue.","es":""},"explanation":{"fr":"","en":"Unless presented separately in the statement of comprehensive income in accordance with other standards, the entity discloses revenue from contracts with customers separately from its other sources of revenue (IFRS 15, para. 113). Quintal's rentals must therefore be distinguished from revenue from contracts with customers.","es":""},"common_error":{"fr":"","en":"Disclosing a single total of revenue without distinguishing contracts with customers.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000279","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000279","tested_point":"QST.IFRS15.000279","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Rivolex does not present separately, in the statement of comprehensive income, the impairment losses on receivables and contract assets arising from its contracts with customers. In the notes, it may group them with the impairment losses on its other contracts, without distinction.","es":""},"explanation":{"fr":"","en":"Unless presented separately in the statement of comprehensive income, the entity discloses the impairment losses, recognised in accordance with IFRS 9, on receivables and contract assets arising from contracts with customers, separately from impairment losses on other contracts (IFRS 15, para. 113). Grouping them without distinction is therefore not permitted.","es":""},"common_error":{"fr":"","en":"Merging impairment losses relating to contracts with customers with those on other contracts.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000280","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000280","tested_point":"QST.IFRS15.000280","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §114","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"What is the objective of disaggregating revenue from contracts with customers?","es":""},"explanation":{"fr":"","en":"The entity disaggregates revenue from contracts with customers into categories that depict how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows (IFRS 15, para. 114). The extent of disaggregation depends on the facts and circumstances of its contracts, and several types of category may be needed (IFRS 15, para. B87).","es":""},"common_error":{"fr":"","en":"Confusing disaggregation of revenue with an exhaustive list of contracts.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"To depict how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"To present the revenue of each contract individually, customer by customer, so that users can rebuild the whole portfolio.","es":""},"correct":false,"feedback":{"fr":"","en":"A contract-by-contract list would obscure useful information: disaggregation is made by category.","es":""}},{"id":"C","text":{"fr":"","en":"To reproduce the segment information as it stands, with no other disaggregation, since it is already reviewed by the entity's management.","es":""},"correct":false,"feedback":{"fr":"","en":"Segment information may inform the choice of categories, but it does not replace the required disaggregation.","es":""}},{"id":"D","text":{"fr":"","en":"To disaggregate revenue by the general ledger accounts used to record it, in order to facilitate reconciliation with the accounting records.","es":""},"correct":false,"feedback":{"fr":"","en":"Categories reflect economic factors, not the structure of the chart of accounts.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000281","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000281","tested_point":"QST.IFRS15.000281","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15","IFRS 15 §114"],"exercise":{"prompt":{"fr":"","en":"Sondral is preparing the note disaggregating its revenue. Which items must it consider or may it use to choose its categories?","es":""},"explanation":{"fr":"","en":"To choose its categories, the entity considers how information about its revenue is presented for other purposes, in particular in communications outside the financial statements and in the information reviewed by the chief operating decision maker (IFRS 15, para. B88). The type of good or service and the geographical region are among the non-exhaustive examples of categories (IFRS 15, para. B89). Several types of category may be needed (IFRS 15, para. B87), the objective remaining the one set by paragraph 114.","es":""},"common_error":{"fr":"","en":"Restricting disaggregation to a single category regardless of the facts.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The type of good or service sold.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"A single category is always enough: several types of disaggregation are never needed.","es":""},"correct":false,"feedback":{"fr":"","en":"The extent of disaggregation depends on facts and circumstances; several types of category may be needed.","es":""}},{"id":"C","text":{"fr":"","en":"How revenue is presented in its earnings releases and investor presentations.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The information regularly reviewed by the chief operating decision maker to evaluate the performance of segments.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The age of each customer's account in the billing system, unrelated to the economic factors of revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"A category unrelated to the economic factors of revenue does not meet the objective of disaggregation.","es":""}},{"id":"F","text":{"fr":"","en":"The geographical region.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000282","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000282","tested_point":"QST.IFRS15.000282","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15","IFRS 15 §114"],"exercise":{"prompt":{"fr":"","en":"The Tavernel group applies IFRS 8 and presents three segments based on regions. Its note disaggregating revenue, prepared in accordance with paragraph 114, uses product lines that do not match those segments. What does IFRS 15 require?","es":""},"explanation":{"fr":"","en":"When the entity applies IFRS 8, it discloses sufficient information to enable users to understand the relationship between the revenue disaggregated in accordance with paragraph 114 and the revenue disclosed for each reportable segment (IFRS 15, para. 115). Both pieces of information coexist: the disaggregation is neither replaced nor forced to match the segments.","es":""},"common_error":{"fr":"","en":"Assuming that segment information removes the need for any explanation of the disaggregation.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Replace the disaggregation by product line with the segment information, to avoid two different presentations of revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The disaggregation under paragraph 114 is still required; IFRS 15 asks for its relationship with the segments to be explained.","es":""}},{"id":"B","text":{"fr":"","en":"Provide sufficient information to understand the relationship between the disaggregated revenue and the revenue of each reportable segment.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Nothing more: segment information falls under IFRS 8 and need not be linked to the disaggregation.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 15 specifically requires this link when the entity applies IFRS 8.","es":""}},{"id":"D","text":{"fr":"","en":"Redefine the operating segments so that they match the product lines used.","es":""},"correct":false,"feedback":{"fr":"","en":"IFRS 15 does not require the segments to be changed, only the relationship between the two pieces of information to be explained.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000283","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000283","tested_point":"QST.IFRS15.000283","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §116"],"exercise":{"prompt":{"fr":"","en":"Ulmera, which does not present or disclose these amounts elsewhere, must disclose the opening and closing balances of its receivables, contract assets and contract liabilities from contracts with customers.","es":""},"explanation":{"fr":"","en":"The entity discloses the opening and closing balances of receivables, contract assets and contract liabilities from contracts with customers, if not otherwise separately presented or disclosed (IFRS 15, para. 116).","es":""},"common_error":{"fr":"","en":"Disclosing closing balances only.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000284","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000284","tested_point":"QST.IFRS15.000284","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §116"],"exercise":{"prompt":{"fr":"","en":"At 1 January 20X2, Velorin's contract liability amounts to 80,000. In 20X2, Velorin receives new advances of 120,000 and recognises total revenue of 900,000. Of this revenue, 65,000 relates to performance covered by the opening contract liability and 70,000 to performance covered by advances received during the year. What amount does Velorin disclose as revenue of the period that was included in the contract liability at the beginning of the period?","es":""},"explanation":{"fr":"","en":"The entity discloses revenue recognised in the period that was included in the contract liability balance at the beginning of the period (IFRS 15, para. 116). Only the 65,000 arising from the opening liability meets this definition: the 70,000 comes from advances received during the year, and the opening balance of 80,000 has not been fully used.","es":""},"common_error":{"fr":"","en":"Disclosing the opening balance instead of the revenue arising from it.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"80,000, the opening contract liability balance.","es":""},"correct":false,"feedback":{"fr":"","en":"Only 65,000 of the opening balance has been turned into revenue.","es":""}},{"id":"B","text":{"fr":"","en":"65,000.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"135,000, that is all revenue arising from advances.","es":""},"correct":false,"feedback":{"fr":"","en":"The 70,000 comes from advances received in 20X2, which were not in the opening contract liability.","es":""}},{"id":"D","text":{"fr":"","en":"120,000, the advances received in 20X2.","es":""},"correct":false,"feedback":{"fr":"","en":"The advances of the year were not included in the opening contract liability.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000285","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000285","tested_point":"QST.IFRS15.000285","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §116","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Wendal completed the construction of a structure in 20X1, a performance obligation fully satisfied at the end of 20X1; the completion bonus had been neither invoiced nor collected. In 20X2, the uncertainty over a completion bonus is resolved and Wendal recognises additional revenue of 30,000 (case data). What information does Wendal give about this amount in its 20X2 notes?","es":""},"explanation":{"fr":"","en":"The entity discloses revenue recognised in the period from performance obligations satisfied, or partially satisfied, in previous periods, for example as a result of changes in the transaction price (IFRS 15, para. 116). The 30,000 remains revenue from a contract with a customer (IFRS 15, para. 113) and was never included in a contract liability.","es":""},"common_error":{"fr":"","en":"Burying in revenue of the period an amount relating to an obligation satisfied previously.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"No specific information: the amount is simply included in total revenue for 20X2.","es":""},"correct":false,"feedback":{"fr":"","en":"This revenue relating to an obligation already satisfied is the subject of separate disclosure.","es":""}},{"id":"B","text":{"fr":"","en":"It presents it as revenue from sources other than contracts with customers, since the structure is completed.","es":""},"correct":false,"feedback":{"fr":"","en":"The revenue still arises from the contract with the customer, even though the structure is completed.","es":""}},{"id":"C","text":{"fr":"","en":"It includes it in revenue of the period that was included in the opening contract liability.","es":""},"correct":false,"feedback":{"fr":"","en":"No payment had been received in advance for this bonus: it was not in the opening contract liability.","es":""}},{"id":"D","text":{"fr":"","en":"It discloses it as revenue of the period from a performance obligation satisfied in a previous period.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000286","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000286","tested_point":"QST.IFRS15.000286","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §118","IFRS 15 §117"],"exercise":{"prompt":{"fr":"","en":"The contract assets and contract liabilities of the Xantis group changed significantly in 20X2. Which items are examples of expected explanations of these significant changes?","es":""},"explanation":{"fr":"","en":"The entity explains, with qualitative and quantitative information, the significant changes in its contract assets and contract liabilities, for example those due to business combinations, cumulative catch-up adjustments, impairments or changes in time frames (IFRS 15, para. 118). It also explains how the timing of satisfaction relates to the typical timing of payment and the effect on those balances (IFRS 15, para. 117).","es":""},"common_error":{"fr":"","en":"Disclosing balances only without explaining significant changes.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Changes due to a business combination.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Cumulative catch-up adjustments to revenue that affect the contract asset or contract liability.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The list of the names of customers that paid an advance during the year.","es":""},"correct":false,"feedback":{"fr":"","en":"The explanation covers the causes of the changes, not the identity of customers.","es":""}},{"id":"D","text":{"fr":"","en":"Impairment of contract assets.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Changes in the time frame for a right to become unconditional or for a performance obligation to be satisfied.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"None: only the closing balance has to be disclosed, explaining the changes being optional.","es":""},"correct":false,"feedback":{"fr":"","en":"Significant changes must be explained with qualitative and quantitative information.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000287","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000287","tested_point":"QST.IFRS15.000287","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §119"],"exercise":{"prompt":{"fr":"","en":"Yselis operates an online marketplace and acts as an agent for part of the sales made on its platform. In the description of its performance obligations, it need not highlight the cases in which it acts as an agent.","es":""},"explanation":{"fr":"","en":"The description of performance obligations specifies, among other things, the nature of the goods or services that the entity has promised to transfer, highlighting any cases in which it acts as an agent, as well as when the obligations are typically satisfied, significant payment terms, obligations for returns or refunds and warranties (IFRS 15, para. 119).","es":""},"common_error":{"fr":"","en":"Failing to highlight sales made as an agent.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000288","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000288","tested_point":"QST.IFRS15.000288","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §120"],"exercise":{"prompt":{"fr":"","en":"On 1 January 20X1, Zephal signs a 3-year maintenance contract for a transaction price of 900,000; the performance obligation is satisfied over time and evenly. At 31 December 20X1, Zephal has recognised revenue of 300,000 and expects to recognise 300,000 in 20X2 and 300,000 in 20X3. What information does Zephal give on the remaining performance obligations?","es":""},"explanation":{"fr":"","en":"The entity discloses the aggregate amount of the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, at the reporting date, and explains when it expects to recognise it as revenue (IFRS 15, para. 120). Here: 900,000 − 300,000 = 600,000, of which 300,000 is expected in 20X2 and 300,000 in 20X3.","es":""},"common_error":{"fr":"","en":"Omitting the transaction price allocated to unsatisfied obligations and its timing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The total transaction price of 900,000, since the contract is in progress.","es":""},"correct":false,"feedback":{"fr":"","en":"Only the portion of the transaction price not yet recognised as revenue is disclosed.","es":""}},{"id":"B","text":{"fr":"","en":"300,000, the amount that will be recognised as revenue in the next year only.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount covers all remaining performance obligations, not only the next year.","es":""}},{"id":"C","text":{"fr":"","en":"600,000, with the expected timing (300,000 in 20X2, then 300,000 in 20X3).","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No information, as the contract is signed and its price already known to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The transaction price allocated to remaining performance obligations and its timing are required information.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000289","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000289","tested_point":"QST.IFRS15.000289","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §120","IFRS 15 §121","IFRS 15 §122"],"exercise":{"prompt":{"fr":"","en":"At 31 December 20X1, Abrenne has three contracts in progress. Contract 1: original expected duration of 10 months, remaining transaction price to be recognised 50,000. Contract 2: duration of 3 years, remaining transaction price 400,000. Contract 3: duration of 2 years, remaining transaction price 120,000; a potential bonus of 30,000 is excluded from it because of the constraint on variable consideration. Abrenne elects to apply the practical expedient that allows the information to be omitted for contracts with an original expected duration of one year or less. What information does it give on the transaction price allocated to the remaining performance obligations?","es":""},"explanation":{"fr":"","en":"The entity discloses the transaction price allocated to unsatisfied obligations and its expected timing (IFRS 15, para. 120). It may omit this information for an obligation that is part of a contract with an original expected duration of one year or less (IFRS 15, para. 121): contract 1 is therefore excluded. It states qualitatively that it applies this expedient and that part of the consideration, here the constrained bonus, is not included in the transaction price or in the information (IFRS 15, para. 122). Amount: 400,000 + 120,000 = 520,000.","es":""},"common_error":{"fr":"","en":"Including constrained variable consideration in the amount disclosed.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"550,000, including the potential bonus of contract 3, since it could be earned.","es":""},"correct":false,"feedback":{"fr":"","en":"The constrained bonus is not included in the transaction price, and therefore not in the amount disclosed; its exclusion is stated qualitatively.","es":""}},{"id":"B","text":{"fr":"","en":"520,000 with its expected timing, stating qualitatively that the practical expedient is applied and that the constrained bonus is excluded.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"570,000, because the practical expedient cannot be applied when the entity also holds multi-year contracts.","es":""},"correct":false,"feedback":{"fr":"","en":"The practical expedient is assessed obligation by obligation, according to the duration of the contract it is part of.","es":""}},{"id":"D","text":{"fr":"","en":"400,000 only, as contracts with variable consideration are excluded from this information.","es":""},"correct":false,"feedback":{"fr":"","en":"Contract 3 is included in the information for its transaction price; only the constrained bonus is excluded.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000290","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000290","tested_point":"QST.IFRS15.000290","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §123"],"exercise":{"prompt":{"fr":"","en":"Brivail is considering the extent of the judgements to be disclosed for its contracts with customers. Which statement is correct?","es":""},"explanation":{"fr":"","en":"The entity discloses the judgements, and changes in judgements, that significantly affect the determination of the amount and timing of revenue from contracts with customers, in particular those relating to the timing of satisfaction of performance obligations and to the determination of the transaction price and its allocation (IFRS 15, para. 123).","es":""},"common_error":{"fr":"","en":"Disclosing only changes in judgements.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only judgements relating to revenue recognised at a point in time must be disclosed, the others being a matter of the entity's internal management.","es":""},"correct":false,"feedback":{"fr":"","en":"The judgements to be disclosed also cover obligations satisfied over time and the transaction price.","es":""}},{"id":"B","text":{"fr":"","en":"Only judgements that have changed compared with the previous year are to be disclosed, unchanged judgements being assumed to be already known to users.","es":""},"correct":false,"feedback":{"fr":"","en":"Significant judgements are disclosed whether or not they have changed, together with their changes.","es":""}},{"id":"C","text":{"fr":"","en":"Brivail discloses the judgements, and changes in judgements, that significantly affect the amount and timing of revenue.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No judgement is to be disclosed: users have the amounts recognised, which are sufficient to assess revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"Significant judgements must be disclosed: the amounts alone do not make them understandable.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000291","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000291","tested_point":"QST.IFRS15.000291","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §124"],"exercise":{"prompt":{"fr":"","en":"Calmeyre carries out construction projects whose performance obligations are satisfied over time; it measures progress using an input method (costs incurred). In its notes, it must describe this method and explain why it provides a faithful depiction of the transfer of goods or services to the customer.","es":""},"explanation":{"fr":"","en":"For performance obligations satisfied over time, the entity describes the methods used to recognise revenue, output or input methods, and how they are applied, and explains why they provide a faithful depiction of the transfer of goods or services (IFRS 15, para. 124). The choice of method is Calmeyre's judgement; the note must justify it.","es":""},"common_error":{"fr":"","en":"Naming the method without explaining why it depicts the transfer.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000292","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000292","tested_point":"QST.IFRS15.000292","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §125"],"exercise":{"prompt":{"fr":"","en":"Dauphal sells industrial ovens; each performance obligation is satisfied at a point in time. An acceptance clause makes it difficult to assess when the customer obtains control: on shipment or after on-site testing. What information must Dauphal give on this matter?","es":""},"explanation":{"fr":"","en":"For performance obligations satisfied at a point in time, the entity discloses the significant judgements made in evaluating when the customer obtains control of the promised goods or services (IFRS 15, para. 125). Dauphal's conclusion on the effect of the acceptance clause is its judgement: this is precisely the judgement that is disclosed.","es":""},"common_error":{"fr":"","en":"Believing that an obligation satisfied at a point in time requires no information on judgements.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A description of its input method and why it faithfully depicts the pattern of transfer of the ovens.","es":""},"correct":false,"feedback":{"fr":"","en":"Describing the methods for measuring progress concerns obligations satisfied over time.","es":""}},{"id":"B","text":{"fr":"","en":"The significant judgements made in determining when the customer obtains control of the ovens.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"None: an obligation satisfied at a point in time requires no information on the judgements made.","es":""},"correct":false,"feedback":{"fr":"","en":"Significant judgements on when control transfers must be disclosed.","es":""}},{"id":"D","text":{"fr":"","en":"Only the remaining transaction price allocated to the ovens not yet shipped at the end of the reporting period.","es":""},"correct":false,"feedback":{"fr":"","en":"This information exists, but it does not replace that on judgements about the transfer of control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000293","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000293","tested_point":"QST.IFRS15.000293","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §126"],"exercise":{"prompt":{"fr":"","en":"Elvinor grants volume rebates, sells bundled offers and accepts returns. For which matters must it disclose the methods, inputs and assumptions used?","es":""},"explanation":{"fr":"","en":"The entity discloses the methods, inputs and assumptions used for determining the transaction price, including estimating variable consideration, assessing whether an estimate of variable consideration is constrained, allocating the transaction price, including estimating stand-alone selling prices, and measuring obligations for returns, refunds and similar obligations (IFRS 15, para. 126). A contract-by-contract list or the tax calculation are not among these requirements.","es":""},"common_error":{"fr":"","en":"Disclosing detailed amounts without describing the methods and assumptions.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The amount of the rebate granted to each customer, presented contract by contract.","es":""},"correct":false,"feedback":{"fr":"","en":"The requirement covers methods, inputs and assumptions, not a contract-by-contract breakdown.","es":""}},{"id":"B","text":{"fr":"","en":"Determining the transaction price, including estimating variable consideration.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Assessing whether an estimate of variable consideration is constrained.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Calculating the income tax on revenue for the period.","es":""},"correct":false,"feedback":{"fr":"","en":"The income tax calculation is not part of the information required by IFRS 15.","es":""}},{"id":"E","text":{"fr":"","en":"Allocating the transaction price, including estimating stand-alone selling prices.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"Measuring obligations for returns, refunds and other similar obligations.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000294","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000294","tested_point":"QST.IFRS15.000294","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §127","IFRS 15 §128"],"exercise":{"prompt":{"fr":"","en":"Fontebrune has recognised as assets sales commissions and set-up costs relating to its contracts with customers. Which set of information must it give about these assets?","es":""},"explanation":{"fr":"","en":"The entity describes the judgements made in determining the amount of the costs to obtain or fulfil a contract that are capitalised, and the method used to determine the amortisation for each period (IFRS 15, para. 127). It discloses the closing balances of those assets by main category, for example costs to obtain contracts and set-up costs, and the amortisation and impairment losses of the period (IFRS 15, para. 128).","es":""},"common_error":{"fr":"","en":"Disclosing only the closing balances of contract cost assets.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only the total of contract costs recognised as an expense during the year, with no breakdown by category and no information on the judgements made.","es":""},"correct":false,"feedback":{"fr":"","en":"Asset balances by category and the judgements made are also required.","es":""}},{"id":"B","text":{"fr":"","en":"Closing balances by category, without the amortisation and impairment losses of the period or the judgements made.","es":""},"correct":false,"feedback":{"fr":"","en":"Amortisation, impairment losses of the period and the judgements made are also required.","es":""}},{"id":"C","text":{"fr":"","en":"The detail, by name, of the commissions paid to each salesperson during the year, with the signature date of the related contracts.","es":""},"correct":false,"feedback":{"fr":"","en":"The information is given by main category, not commission by commission.","es":""}},{"id":"D","text":{"fr":"","en":"The judgements on capitalised costs and the amortisation method, closing balances by main category, amortisation and impairment losses of the period.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000295","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS","IFRS15.CONTRACT_COSTS.ACQUISITION_AND_FULFILMENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000295","tested_point":"QST.IFRS15.000295","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000013","section_id":"costs-to-obtain"},"references":["IFRS 15 §129","IFRS 15 §94"],"exercise":{"prompt":{"fr":"","en":"Gardenne elects to recognise as an expense when incurred the incremental costs of obtaining contracts whose asset would have been amortised over one year or less. As this choice is merely a practical expedient, Gardenne need not mention it in its notes.","es":""},"explanation":{"fr":"","en":"As a practical expedient, the entity may recognise the incremental costs of obtaining a contract as an expense when incurred if the amortisation period of the asset that would otherwise have been recognised is one year or less (IFRS 15, para. 94). An entity that elects this practical expedient discloses that fact (IFRS 15, para. 129).","es":""},"common_error":{"fr":"","en":"Considering that a practical expedient removes the need for any disclosure.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000296","standard_id":"IFRS15","concept_ids":["IFRS15.DISCLOSURE.REQUIREMENTS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000296","tested_point":"QST.IFRS15.000296","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"disclosure-objective"},"references":["IFRS 15 §114","IFRS 15","IFRS 15 §111"],"exercise":{"prompt":{"fr":"","en":"The Hermanel group sells laboratory equipment and multi-year maintenance contracts. Its investor presentations analyse revenue by product line (equipment, maintenance) and by region (Europe, North America). Its chief operating decision maker monitors the performance of two segments based on these regions, and Hermanel applies IFRS 8. The group has about 400 active contracts. Which note disaggregating revenue is most appropriate?","es":""},"explanation":{"fr":"","en":"Disaggregation must depict how economic factors affect the nature, amount, timing and uncertainty of revenue and cash flows (IFRS 15, para. 114). Hermanel considers how it presents revenue to investors and the information monitored by the chief operating decision maker (IFRS 15, para. B88), and relates the disaggregation to the revenue of each segment (IFRS 15, para. 115). The level of detail must neither obscure useful information nor aggregate items with very different characteristics (IFRS 15, para. 111). The precise choice of categories remains Hermanel's judgement in the light of its facts.","es":""},"common_error":{"fr":"","en":"Believing that segment information removes the need to disaggregate revenue.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"A single revenue figure, as the segment information published under IFRS 8 already meets any disaggregation requirement.","es":""},"correct":false,"feedback":{"fr":"","en":"Segment information does not replace disaggregation: IFRS 15 requires their relationship to be explained.","es":""}},{"id":"B","text":{"fr":"","en":"A breakdown by legal entity of the group, unrelated to the product lines and regions followed by investors and management.","es":""},"correct":false,"feedback":{"fr":"","en":"Categories must reflect economic factors; the entity considers how it already presents its revenue.","es":""}},{"id":"C","text":{"fr":"","en":"The list of the 400 active contracts with their revenue, to give users the most detailed information possible.","es":""},"correct":false,"feedback":{"fr":"","en":"A list of 400 contracts would obscure useful information in detail.","es":""}},{"id":"D","text":{"fr":"","en":"Equipment and maintenance, by region, with the information needed to relate this disaggregation to the revenue of each segment.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000297","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000297","tested_point":"QST.IFRS15.000297","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B21","IFRS 15 §B23"],"exercise":{"prompt":{"fr":"","en":"Ombrelle sells lamps with a 30-day right of return. It recognises revenue for the full invoiced price and recognises an expense for a provision covering the expected returns. This treatment complies with IFRS 15.","es":""},"explanation":{"fr":"","en":"For a sale with a right of return, the entity recognises as revenue only the consideration to which it expects to be entitled, that is excluding the products expected to be returned; for those products, it recognises a refund liability, not revenue (IFRS 15, para. B21 and B23). Expected returns therefore reduce revenue instead of being presented as an expense. An asset for the right to recover the products is also recognised, with a corresponding adjustment to cost of sales (IFRS 15, para. B21).","es":""},"common_error":{"fr":"","en":"Presenting expected returns as an expense instead of reducing revenue.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000298","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000298","tested_point":"QST.IFRS15.000298","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B24"],"exercise":{"prompt":{"fr":"","en":"At each reporting date, Pervenche updates its estimate of the expected returns on its shoe sales; the resulting adjustment to the refund liability is recognised as revenue or as a reduction of revenue.","es":""},"explanation":{"fr":"","en":"The estimate of returns is not fixed at the date of sale: at each reporting date, the entity updates it, adjusts the refund liability and recognises the corresponding adjustment as revenue, or as a reduction of revenue (IFRS 15, para. B24).","es":""},"common_error":{"fr":"","en":"Freezing the estimate of returns until the return period expires.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000299","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000299","tested_point":"QST.IFRS15.000299","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B21","IFRS 15 §B23"],"exercise":{"prompt":{"fr":"","en":"Calisse sells 500 coffee makers with a 60-day right of return and expects some of them to be returned. What does it recognise when control of the coffee makers is transferred to the customers?","es":""},"explanation":{"fr":"","en":"Calisse recognises revenue for the consideration to which it expects to be entitled, excluding the coffee makers expected to be returned, a refund liability for those coffee makers, and an asset for its right to recover the products, with an adjustment to cost of sales (IFRS 15, para. B21). No revenue is recognised for the coffee makers expected to be returned (IFRS 15, para. B23).","es":""},"common_error":{"fr":"","en":"Omitting the asset for the right to recover the products.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revenue for the full invoiced price and a provision recognised as an expense for the expected returns.","es":""},"correct":false,"feedback":{"fr":"","en":"Expected returns are not an expense: they are excluded from revenue and give rise to a refund liability.","es":""}},{"id":"B","text":{"fr":"","en":"Revenue excluding expected returns, a refund liability and an asset for the right to recover the products, with an adjustment to cost of sales.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No revenue until the 60-day return period has expired.","es":""},"correct":false,"feedback":{"fr":"","en":"The right of return does not prevent revenue from being recognised for the coffee makers not expected to be returned.","es":""}},{"id":"D","text":{"fr":"","en":"Revenue excluding expected returns and a refund liability, with the whole carrying amount of the coffee makers delivered removed from inventory and charged to cost of sales.","es":""},"correct":false,"feedback":{"fr":"","en":"The asset for the right to recover the coffee makers expected to be returned, which reduces cost of sales, is missing.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000300","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000300","tested_point":"QST.IFRS15.000300","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §B20","IFRS 15 §B23","IFRS 15 §B24"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about sales with a right of return are correct?","es":""},"explanation":{"fr":"","en":"A right of return may result in a full or partial refund, a credit that can be applied against amounts owed, another product, or any combination of these (IFRS 15, para. B20). To determine the expected consideration, the entity applies the requirements on the transaction price, including the constraint on estimates of variable consideration, and recognises no revenue for products expected to be returned (IFRS 15, para. B23). The estimate of returns is updated at each reporting date (IFRS 15, para. B24).","es":""},"common_error":{"fr":"","en":"Ignoring the constraint on variable consideration when estimating returns.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Only a cash refund is a return; a credit that can be applied against amounts owed is accounted for differently.","es":""},"correct":false,"feedback":{"fr":"","en":"A return may also give rise to a credit applied against amounts owed or to another product.","es":""}},{"id":"B","text":{"fr":"","en":"The expected consideration is determined under the requirements on the transaction price, including the constraint on variable consideration.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No revenue is recognised for products expected to be returned.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The estimate of returns is fixed at the date of sale and is not revised afterwards.","es":""},"correct":false,"feedback":{"fr":"","en":"The estimate is updated at each reporting date.","es":""}},{"id":"E","text":{"fr":"","en":"The return may result in a refund, a credit, the delivery of another product or any combination of these.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000301","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000701","tested_point":"VG.IFRS15.000701","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §B21","IFRS 15 §B23","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"On 15 June 20X1, Vélinor sells {units} scooters for cash at a unit price of {unit_price}. Customers have a 30-day right of return with a full refund. Based on its history, Vélinor estimates that {return_rate} of the scooters will be returned; according to the case data, it is highly probable that this estimate will not result in a significant reversal of the revenue recognised. Calculate the revenue and the refund liability to be recognised at the date of sale.","es":""},"explanation":{"fr":"","en":"The invoiced price is 1,000 × 250 = 250,000. The scooters expected to be returned represent 5% × 250,000 = 12,500: no revenue is recognised for that amount, which is recognised as a refund liability (IFRS 15, para. B21 and B23). Revenue is therefore 250,000 − 12,500 = 237,500. The return rate and the assessment of the constraint are case data (IFRS 15, para. 56).","es":""},"common_error":{"fr":"","en":"Recognising revenue of 250,000 and a provision expense of 12,500.","es":""},"format":"CALCULATION","placeholders":[{"id":"units","value":"1000","unit":"UNITS"},{"id":"unit_price","value":"250","unit":"EUR"},{"id":"return_rate","value":"5","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Number of scooters sold","es":""},"value":"1000","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price","es":""},"value":"250","unit":"EUR"},{"label":{"fr":"","en":"Expected return rate","es":""},"value":"5","unit":"PERCENT"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue","es":""},"answer":237500,"tolerance":0,"unit":"EUR"},{"id":"REFUND_LIABILITY","label":{"fr":"","en":"Refund liability","es":""},"answer":12500,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REFUND_LIABILITY","meaning":{"fr":"","en":"Refund liability","es":""},"expression":"a * (b * c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Expected return rate","es":""},"value":5,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Number of scooters sold","es":""},"value":1000,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Unit selling price","es":""},"value":250,"unit":"EUR"}],"result":12500,"unit":"EUR","rationale":{"fr":"","en":"The scooters expected to be returned represent 5% × 250,000 = 12,500: no revenue is recognised for that amount, which is recognised as a refund liability (IFRS 15, para. B21 and B23).","es":""}}],"references":["REF.IFRS15.B21","REF.IFRS15.B23","REF.IFRS15.56"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000302","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000701","tested_point":"VG.IFRS15.000701","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §B23","IFRS 15 §B21","IFRS 15 §56"],"exercise":{"prompt":{"fr":"","en":"In March 20X2, the online retailer Marelia ships {units} jackets sold at {unit_price} each and paid on ordering. Customers may send the jackets back within 14 days for a refund. Using the previous season's statistics, customer service forecasts that {expected_returns} jackets will be returned; management considers, based on the case data, that this forecast meets the constraint on variable consideration. What amounts of revenue and refund liability does Marelia recognise on delivery?","es":""},"explanation":{"fr":"","en":"Marelia recognises no revenue for the jackets expected to be returned (IFRS 15, para. B23): 30 × 120 = 3,600 is recognised as a refund liability (IFRS 15, para. B21). Revenue relates to the 800 − 30 = 770 jackets kept, that is 770 × 120 = 92,400. The forecast of returns and compliance with the constraint are case data (IFRS 15, para. 56).","es":""},"common_error":{"fr":"","en":"Recognising revenue on all 800 jackets shipped.","es":""},"format":"CALCULATION","placeholders":[{"id":"units","value":"800","unit":"UNITS"},{"id":"unit_price","value":"120","unit":"EUR"},{"id":"expected_returns","value":"30","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Number of jackets shipped","es":""},"value":"800","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price","es":""},"value":"120","unit":"EUR"},{"label":{"fr":"","en":"Number of jackets expected to be returned","es":""},"value":"30","unit":"UNITS"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue","es":""},"answer":92400,"tolerance":0,"unit":"EUR"},{"id":"REFUND_LIABILITY","label":{"fr":"","en":"Refund liability","es":""},"answer":3600,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE","meaning":{"fr":"","en":"Revenue","es":""},"expression":"(a - b) * c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Number of jackets shipped","es":""},"value":800,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Number of jackets expected to be returned","es":""},"value":30,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Unit selling price","es":""},"value":120,"unit":"EUR"}],"result":92400,"unit":"EUR"},{"step":"REFUND_LIABILITY","meaning":{"fr":"","en":"Refund liability","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Number of jackets expected to be returned","es":""},"value":30,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit selling price","es":""},"value":120,"unit":"EUR"}],"result":3600,"unit":"EUR","rationale":{"fr":"","en":"Marelia recognises no revenue for the jackets expected to be returned (IFRS 15, para. B23): 30 × 120 = 3,600 is recognised as a refund liability (IFRS 15, para. B21).","es":""}}],"references":["REF.IFRS15.B23","REF.IFRS15.B21","REF.IFRS15.56"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000303","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000702","tested_point":"VG.IFRS15.000702","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §B24","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"In December 20X1, Ardélie sells 1,000 kitchen robots at a unit price of {unit_price}, with a 90-day right of return. At the date of sale, it expects {initial_expected_returns} robots to be returned and recognises the corresponding refund liability. At 31 December 20X1, the reporting date, {returned_units} robots have been returned and refunded; Ardélie revises its estimate and now expects only {revised_remaining_returns} further robots to be returned. Calculate the refund liability at the reporting date and the adjustment to revenue (the asset for the right to recover the products is not dealt with here).","es":""},"explanation":{"fr":"","en":"The initial liability is 60 × 400 = 24,000. The 20 returns refunded, that is 20 × 400 = 8,000, reduce it to 16,000. At the reporting date, the entity updates its estimate of returns and adjusts the refund liability, the adjustment being recognised as revenue (IFRS 15, para. B24): the liability must be 25 × 400 = 10,000, hence a decrease of 16,000 − 10,000 = 6,000 recognised as an increase in revenue. The refund liability is remeasured at each reporting date (IFRS 15, para. 55).","es":""},"common_error":{"fr":"","en":"Comparing the revised estimate with the initial liability without deducting the returns already refunded.","es":""},"format":"CALCULATION","placeholders":[{"id":"unit_price","value":"400","unit":"EUR"},{"id":"initial_expected_returns","value":"60","unit":"UNITS"},{"id":"returned_units","value":"20","unit":"UNITS"},{"id":"revised_remaining_returns","value":"25","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Unit selling price","es":""},"value":"400","unit":"EUR"},{"label":{"fr":"","en":"Returns expected at the date of sale","es":""},"value":"60","unit":"UNITS"},{"label":{"fr":"","en":"Robots returned and refunded before the reporting date","es":""},"value":"20","unit":"UNITS"},{"label":{"fr":"","en":"Further returns still expected at the reporting date","es":""},"value":"25","unit":"UNITS"}],"steps":[{"id":"REFUND_LIABILITY_CLOSING","label":{"fr":"","en":"Refund liability at the reporting date","es":""},"answer":10000,"tolerance":0,"unit":"EUR"},{"id":"REVENUE_INCREASE","label":{"fr":"","en":"Increase in revenue","es":""},"answer":6000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REFUND_LIABILITY_CLOSING","meaning":{"fr":"","en":"Refund liability at the reporting date","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Further returns still expected at the reporting date","es":""},"value":25,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit selling price","es":""},"value":400,"unit":"EUR"}],"result":10000,"unit":"EUR","rationale":{"fr":"","en":"At the reporting date, the entity updates its estimate of returns and adjusts the refund liability, the adjustment being recognised as revenue (IFRS 15, para. B24): the liability must be 25 × 400 = 10,000, hence a decrease of 16,000 − 10,000 = 6,000 recognised as an increase in revenue.","es":""}}],"references":["REF.IFRS15.B24","REF.IFRS15.55"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000304","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN","IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000702","tested_point":"VG.IFRS15.000702","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §B24","IFRS 15 §B23"],"exercise":{"prompt":{"fr":"","en":"In October 20X2, the board game publisher Lumbra delivers {units} game boxes to shops at a unit price of {unit_price}; the shops may return unsold boxes until 31 March 20X3 for a refund. On delivery, Lumbra estimated returns at {initial_rate} of the boxes. At 31 December 20X2, the reporting date, no box has yet been returned, but as in-store sales are disappointing, Lumbra raises its estimate to {revised_rate}. Calculate the refund liability at the reporting date and the reduction in revenue to be recognised.","es":""},"explanation":{"fr":"","en":"The invoiced price is 500 × 80 = 40,000. The initial liability, 5% × 40,000 = 2,000, relates to the boxes for which no revenue was recognised (IFRS 15, para. B23). At the reporting date, Lumbra updates its estimate and adjusts the liability against revenue (IFRS 15, para. B24): the liability must be 8% × 40,000 = 3,200, an increase of 1,200 recognised as a reduction of revenue. The return rates are estimates given by the case.","es":""},"common_error":{"fr":"","en":"Recognising the increase in the liability as an expense rather than as a reduction of revenue.","es":""},"format":"CALCULATION","placeholders":[{"id":"units","value":"500","unit":"UNITS"},{"id":"unit_price","value":"80","unit":"EUR"},{"id":"initial_rate","value":"5","unit":"PERCENT"},{"id":"revised_rate","value":"8","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Number of boxes delivered","es":""},"value":"500","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price","es":""},"value":"80","unit":"EUR"},{"label":{"fr":"","en":"Return rate estimated on delivery","es":""},"value":"5","unit":"PERCENT"},{"label":{"fr":"","en":"Return rate estimated at the reporting date","es":""},"value":"8","unit":"PERCENT"}],"steps":[{"id":"REFUND_LIABILITY_CLOSING","label":{"fr":"","en":"Refund liability at the reporting date","es":""},"answer":3200,"tolerance":0,"unit":"EUR"},{"id":"REVENUE_REDUCTION","label":{"fr":"","en":"Reduction in revenue","es":""},"answer":1200,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REFUND_LIABILITY_CLOSING","meaning":{"fr":"","en":"Refund liability at the reporting date","es":""},"expression":"a * (b * c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Return rate estimated at the reporting date","es":""},"value":8,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Number of boxes delivered","es":""},"value":500,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Unit selling price","es":""},"value":80,"unit":"EUR"}],"result":3200,"unit":"EUR","rationale":{"fr":"","en":"At the reporting date, Lumbra updates its estimate and adjusts the liability against revenue (IFRS 15, para. B24): the liability must be 8% × 40,000 = 3,200, an increase of 1,200 recognised as a reduction of revenue.","es":""}}],"references":["REF.IFRS15.B24","REF.IFRS15.B23"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000307","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000307","tested_point":"QST.IFRS15.000307","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B21","IFRS 15 §B23"],"exercise":{"prompt":{"fr":"","en":"When reviewing the 20X1 financial statements of Solvane, which sells cosmetics with a 60-day right of return, you note that December sales of 80,000 were recognised in full as revenue and that a provision of 4,000 was recognised as an expense for the expected returns. Returned products are put back on sale. What correction do you propose?","es":""},"explanation":{"fr":"","en":"Expected returns are not an expense: revenue is limited to the consideration to which Solvane expects to be entitled, that is 80,000 − 4,000 = 76,000, and the 4,000 is a refund liability (IFRS 15, para. B21 and B23). Solvane must also recognise an asset for its right to recover the products, with a corresponding adjustment to cost of sales (IFRS 15, para. B21).","es":""},"common_error":{"fr":"","en":"Considering that a provision recognised as an expense is equivalent to a reduction of revenue.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"None: the provision recognised as an expense leads to the same profit as a reduction of revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The treatment is not equivalent: revenue must exclude expected returns, and the asset for the right to recover the products is missing.","es":""}},{"id":"B","text":{"fr":"","en":"Reduce revenue to 76,000, reclassify the 4,000 as a refund liability and recognise an asset for the right to recover the products.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Reduce revenue to 76,000 and reclassify the 4,000 as a refund liability, with no other adjustment.","es":""},"correct":false,"feedback":{"fr":"","en":"The asset for the right to recover the products, recognised as an adjustment to cost of sales, is missing.","es":""}},{"id":"D","text":{"fr":"","en":"Reverse all December sales until the 60-day return period expires and present all amounts received as a contract liability.","es":""},"correct":false,"feedback":{"fr":"","en":"The right of return does not prevent revenue from being recognised for the sales not expected to be returned.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000308","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000308","tested_point":"QST.IFRS15.000308","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B21"],"exercise":{"prompt":{"fr":"","en":"Caldera sells drills with a right of return. For the quarter's sales, it correctly excluded expected returns from revenue and recognised a refund liability of 9,000. However, it removed all the drills delivered from inventory, at a carrying amount of 150,000, and charged them to cost of sales. According to the case data, the asset for the right to recover the drills expected to be returned amounts to 6,000. What correction is needed?","es":""},"explanation":{"fr":"","en":"On a sale with a right of return, the entity recognises, in addition to revenue and the refund liability, an asset for its right to recover the products, with a corresponding adjustment to cost of sales (IFRS 15, para. B21). Caldera must therefore recognise an asset of 6,000 and reduce cost of sales by 6,000; revenue and the refund liability, already correct, do not change.","es":""},"common_error":{"fr":"","en":"Omitting the asset for the right to recover the products.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Recognise an asset for the right to recover the products of 6,000 and reduce cost of sales by the same amount.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Increase revenue by 6,000 to reflect the drills that will come back into inventory.","es":""},"correct":false,"feedback":{"fr":"","en":"Revenue is already correct; the asset to be recovered adjusts cost of sales, not revenue.","es":""}},{"id":"C","text":{"fr":"","en":"No correction, as the cost of the drills expected to be returned is an expense of the period.","es":""},"correct":false,"feedback":{"fr":"","en":"The asset for the right to recover the products cannot be omitted.","es":""}},{"id":"D","text":{"fr":"","en":"Recognise an asset for the right to recover the products of 6,000 against a decrease in the refund liability.","es":""},"correct":false,"feedback":{"fr":"","en":"The refund liability is already correct; the asset is recognised against an adjustment to cost of sales.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000309","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000309","tested_point":"QST.IFRS15.000309","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B24"],"exercise":{"prompt":{"fr":"","en":"Sorbelle had recognised a refund liability of 15,000 for the expected returns on its November 20X1 sales. At 31 December 20X1, the reporting date, no return has occurred and Sorbelle revises its estimate: the liability required is now only 9,000. How does it account for the difference?","es":""},"explanation":{"fr":"","en":"At each reporting date, the entity updates its estimate of returns, adjusts the refund liability and recognises the adjustment as revenue or as a reduction of revenue (IFRS 15, para. B24). Sorbelle therefore reduces the liability by 15,000 − 9,000 = 6,000 and recognises 6,000 as revenue.","es":""},"common_error":{"fr":"","en":"Waiting for the end of the return period to adjust the liability.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It reduces the refund liability by 6,000 and recognises 6,000 as revenue.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"It keeps the liability at 15,000 until the return period expires, and then reverses it in full.","es":""},"correct":false,"feedback":{"fr":"","en":"The estimate must be updated at each reporting date, without waiting for the end of the return period.","es":""}},{"id":"C","text":{"fr":"","en":"It reduces the refund liability by 6,000 against other income, presented outside revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The adjustment is recognised as revenue, not under another heading.","es":""}},{"id":"D","text":{"fr":"","en":"It reduces the refund liability by 6,000 directly in equity, with no effect on profit or loss for the period.","es":""},"correct":false,"feedback":{"fr":"","en":"The adjustment goes through revenue, and therefore through profit or loss.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000310","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000310","tested_point":"QST.IFRS15.000310","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Ferrane sells boilers with a two-year warranty required by law. The fact that this warranty is required by law is an indication that it is not a performance obligation.","es":""},"explanation":{"fr":"","en":"One of the factors to consider in assessing whether a warranty provides a service in addition to the assurance of compliance is whether it is required by law: a warranty required by law suggests that it is not a performance obligation (IFRS 15, para. B31). It is an indication, assessed together with the other factors (length of the coverage period, nature of the tasks promised).","es":""},"common_error":{"fr":"","en":"Considering that a legal warranty necessarily creates a performance obligation.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000311","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000311","tested_point":"QST.IFRS15.000311","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15","IFRS 15 §B28"],"exercise":{"prompt":{"fr":"","en":"The longer the coverage period of a warranty, the less likely it is that the warranty provides a service in addition to the assurance that the product complies with agreed-upon specifications.","es":""},"explanation":{"fr":"","en":"The opposite is true: the longer the coverage period, the more likely it is that the warranty provides a service in addition to the assurance of compliance (IFRS 15, para. B31). The nature of warranties varies across industries and contracts; some only provide assurance of compliance, while others provide an additional service (IFRS 15, para. B28).","es":""},"common_error":{"fr":"","en":"Reversing the direction of the indication relating to the coverage period.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000312","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000312","tested_point":"QST.IFRS15.000312","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15","IFRS 15 §B28"],"exercise":{"prompt":{"fr":"","en":"In assessing whether a warranty provides a service in addition to the assurance of compliance with agreed-upon specifications, which of the following makes such a service more likely?","es":""},"explanation":{"fr":"","en":"A longer coverage period makes a service in addition to the assurance of compliance more likely (IFRS 15, para. B31). Conversely, a legal requirement and tasks needed to provide the assurance of compliance, such as return shipping of a defective product, point against a performance obligation; a warranty limited to compliance with specifications provides no additional service (IFRS 15, para. B28).","es":""},"common_error":{"fr":"","en":"Seeing the legal requirement as an indication of an additional service.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The warranty is required by law.","es":""},"correct":false,"feedback":{"fr":"","en":"A legal requirement suggests, on the contrary, that the warranty is not a performance obligation.","es":""}},{"id":"B","text":{"fr":"","en":"The coverage lasts considerably longer than the usual period.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The only task promised is to ship the defective product back to restore its compliance.","es":""},"correct":false,"feedback":{"fr":"","en":"A task needed to provide the assurance of compliance is unlikely to create a performance obligation.","es":""}},{"id":"D","text":{"fr":"","en":"The warranty only provides assurance that the product complies with agreed-upon specifications.","es":""},"correct":false,"feedback":{"fr":"","en":"A warranty of mere compliance provides no additional service.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000313","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000313","tested_point":"QST.IFRS15.000313","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15","IFRS 15 §B28"],"exercise":{"prompt":{"fr":"","en":"Hydrelle sells heat pumps with a warranty. Which of the following are indications that this warranty only provides assurance that the pumps comply with agreed-upon specifications?","es":""},"explanation":{"fr":"","en":"A warranty required by regulation, a short coverage period and tasks limited to what is needed to provide the assurance of compliance (return shipping and repair of a defective product) are indications of mere assurance of compliance (IFRS 15, para. B31). A very long coverage period or services going beyond restoring compliance, such as an annual optimisation visit, suggest an additional service instead (IFRS 15, para. B28 and B31).","es":""},"common_error":{"fr":"","en":"Treating any service linked to the warranty as mere assurance of compliance.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The warranty covers ten years, well beyond the period in which defects existing at delivery come to light.","es":""},"correct":false,"feedback":{"fr":"","en":"A long coverage period makes an additional service more likely, not mere assurance of compliance.","es":""}},{"id":"B","text":{"fr":"","en":"The warranty is required by the regulations of the country of sale.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Beyond repairs, Hydrelle undertakes to carry out an annual efficiency optimisation visit.","es":""},"correct":false,"feedback":{"fr":"","en":"A task going beyond restoring compliance rather indicates an additional service.","es":""}},{"id":"D","text":{"fr":"","en":"The only tasks promised are the return shipping of defective pumps and their repair.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The coverage is short and matches the period in which defects existing at delivery come to light.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000314","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000314","tested_point":"QST.IFRS15.000314","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15","IFRS 15 §B28"],"exercise":{"prompt":{"fr":"","en":"Ventamar sells electric bicycles. All bicycles come with the two-year legal warranty covering compliance defects. For its top-of-the-range model, Ventamar also grants six-year coverage including a full annual service and the replacement of wear parts. Which analysis complies with IFRS 15?","es":""},"explanation":{"fr":"","en":"The nature of warranties varies: some only provide assurance of compliance, while others provide an additional service (IFRS 15, para. B28). The legal requirement suggests that the two-year warranty is not a performance obligation; conversely, six-year coverage and tasks going beyond restoring compliance (services, wear parts) are indications of an additional service (IFRS 15, para. B31). The final conclusion on the six-year coverage is a matter of judgement, in the light of all the facts.","es":""},"common_error":{"fr":"","en":"Treating all warranties the same way, without examining their nature.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Both warranties create performance obligations, since any warranty granted by the seller is a service.","es":""},"correct":false,"feedback":{"fr":"","en":"Some warranties only provide assurance of compliance; the legal requirement in fact suggests that there is no performance obligation.","es":""}},{"id":"B","text":{"fr":"","en":"Both warranties are mere assurance of compliance, as the coverage period has no bearing on the analysis.","es":""},"correct":false,"feedback":{"fr":"","en":"The coverage period is a factor expressly considered: the longer it is, the more likely a service.","es":""}},{"id":"C","text":{"fr":"","en":"The legal warranty indicates assurance of compliance; the six-year coverage shows indications of an additional service to be analysed.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The two-year legal warranty is an additional service because it is required by law, unlike the six-year coverage.","es":""},"correct":false,"feedback":{"fr":"","en":"The legal requirement points the other way: it suggests that the warranty is not a performance obligation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000315","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_QST.IFRS15.000315","tested_point":"QST.IFRS15.000315","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §74","IFRS 15 §76","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Thermaline sells a restaurant, for a total price of {total_price}, a professional coffee machine and a three-year extended warranty including quarterly preventive maintenance. After analysing the relevant factors, Thermaline concluded (conclusion given by the case) that the extension provides a service in addition to the assurance of compliance and is a performance obligation separate from the machine. The observed stand-alone selling prices are {machine_ssp} for the machine and {warranty_ssp} for the extended warranty. Allocate the transaction price.","es":""},"explanation":{"fr":"","en":"The transaction price is allocated to the performance obligations on the basis of their relative stand-alone selling prices (IFRS 15, para. 74 and 76). The sum of the stand-alone selling prices is 10,000 + 2,000 = 12,000. The machine receives 10,800 × 10,000 / 12,000 = 9,000 and the extended warranty 10,800 × 2,000 / 12,000 = 1,800. The classification of the extension as an additional service results from the analysis of the factors of length and nature of the tasks (IFRS 15, para. B31), presented here as case data.","es":""},"common_error":{"fr":"","en":"Allocating the full stand-alone selling price to the extension and the balance to the machine.","es":""},"format":"CALCULATION","placeholders":[{"id":"total_price","value":"10800","unit":"EUR"},{"id":"machine_ssp","value":"10000","unit":"EUR"},{"id":"warranty_ssp","value":"2000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract price","es":""},"value":"10800","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the machine","es":""},"value":"10000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":"2000","unit":"EUR"}],"steps":[{"id":"MACHINE_ALLOCATION","label":{"fr":"","en":"Price allocated to the machine","es":""},"answer":9000,"tolerance":0,"unit":"EUR"},{"id":"WARRANTY_ALLOCATION","label":{"fr":"","en":"Price allocated to the extended warranty","es":""},"answer":1800,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"MACHINE_ALLOCATION","meaning":{"fr":"","en":"Price allocated to the machine","es":""},"expression":"a * b / (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":10800,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the machine","es":""},"value":10000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":2000,"unit":"EUR"}],"result":9000,"unit":"EUR"},{"step":"WARRANTY_ALLOCATION","meaning":{"fr":"","en":"Price allocated to the extended warranty","es":""},"expression":"a * b / (c + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":10800,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":2000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the machine","es":""},"value":10000,"unit":"EUR"}],"result":1800,"unit":"EUR"}],"rationale":{"fr":"","en":"The transaction price is allocated to the performance obligations on the basis of their relative stand-alone selling prices (IFRS 15, para. 74 and 76).","es":""},"references":["REF.IFRS15.74","REF.IFRS15.76","REF.IFRS15.B31"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000316","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000316","tested_point":"QST.IFRS15.000316","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B35"],"exercise":{"prompt":{"fr":"","en":"Pivoine buys show tickets and immediately resells them to its customers; it holds legal title to them only for an instant before they are transferred to the customer. This momentary legal title alone is enough to establish that it acts as a principal.","es":""},"explanation":{"fr":"","en":"The entity is a principal if it controls the specified good or service before it is transferred to the customer; legal title obtained only momentarily is not necessarily enough to establish that control (IFRS 15, para. B35). Pivoine must therefore assess whether it actually controls the tickets before they are transferred.","es":""},"common_error":{"fr":"","en":"Equating the legal transfer of title with control of the specified good.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000317","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000317","tested_point":"QST.IFRS15.000317","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":40,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B34"],"exercise":{"prompt":{"fr":"","en":"Within a single contract with a customer, an entity may act as a principal for some specified goods or services and as an agent for others.","es":""},"explanation":{"fr":"","en":"When a third party is involved, the entity determines the nature of its promise for each specified good or service promised to the customer; a single contract can therefore include both a principal role and an agent role (IFRS 15, para. B34).","es":""},"common_error":{"fr":"","en":"Reaching a single conclusion for the contract as a whole.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000318","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000318","tested_point":"QST.IFRS15.000318","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B37","IFRS 15 §B37A"],"exercise":{"prompt":{"fr":"","en":"Orcival can conclude that it controls a specified service before it is transferred to the customer only if three indicators are all present: primary responsibility for fulfilment, inventory risk and discretion in establishing the price.","es":""},"explanation":{"fr":"","en":"The indicators of control (primary responsibility for fulfilment, inventory risk, discretion in establishing the price) are not exhaustive (IFRS 15, para. B37). They support the analysis of control and may be more or less relevant depending on the nature of the specified good or service and the terms of the contract (IFRS 15, para. B37A): they are not cumulative criteria. For a service, inventory risk may in fact be of little relevance.","es":""},"common_error":{"fr":"","en":"Treating the indicators as a list of conditions that must all be met.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000319","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000319","tested_point":"QST.IFRS15.000319","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B36"],"exercise":{"prompt":{"fr":"","en":"Navigo arranges airport transfers for its customers, performed by taxi companies. Based on the case data, it has concluded that it acts as an agent. How does it recognise its revenue?","es":""},"explanation":{"fr":"","en":"An agent does not control the specified service before it is transferred: its obligation is to arrange for it to be provided by the third party. It recognises as revenue the fee or commission to which it expects to be entitled, which may be the net amount retained after paying the third party (IFRS 15, para. B36).","es":""},"common_error":{"fr":"","en":"Recognising the gross amount merely because the entity collects the price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"At the gross amount paid by the customer, with the cost of the taxi rides presented as an expense of the period.","es":""},"correct":false,"feedback":{"fr":"","en":"Gross revenue applies to a principal; Navigo is an agent.","es":""}},{"id":"B","text":{"fr":"","en":"At the commission to which it expects to be entitled, possibly the net amount retained.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"No revenue, since the transport is performed entirely by the taxi companies.","es":""},"correct":false,"feedback":{"fr":"","en":"Navigo provides a service, arranging the transfer, for which it earns a commission.","es":""}},{"id":"D","text":{"fr":"","en":"At the gross amount paid by the customer, since it collects the price itself before paying the taxis.","es":""},"correct":false,"feedback":{"fr":"","en":"Collecting the price does not determine the role: only control of the service before transfer matters.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000320","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000320","tested_point":"QST.IFRS15.000320","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B37","IFRS 15 §B35"],"exercise":{"prompt":{"fr":"","en":"Which of the following is not one of the indicators cited by IFRS 15 to show that an entity controls a specified good or service before it is transferred to the customer?","es":""},"explanation":{"fr":"","en":"The indicators cited, which are not exhaustive, are primary responsibility for fulfilling the promise, inventory risk before or after transfer and discretion in establishing the price (IFRS 15, para. B37). Customer credit risk is not one of them: on its own, it does not support the conclusion that the entity controls the specified good or service, which remains the question to be answered (IFRS 15, para. B35).","es":""},"common_error":{"fr":"","en":"Concluding that the entity is a principal on the sole basis of credit risk.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The entity is primarily responsible for fulfilling the promise.","es":""},"correct":false,"feedback":{"fr":"","en":"This is one of the indicators cited.","es":""}},{"id":"B","text":{"fr":"","en":"The entity has inventory risk before or after the transfer.","es":""},"correct":false,"feedback":{"fr":"","en":"This is one of the indicators cited.","es":""}},{"id":"C","text":{"fr":"","en":"The entity bears the customer's credit risk.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The entity has discretion in establishing the price of the specified good or service.","es":""},"correct":false,"feedback":{"fr":"","en":"This is one of the indicators cited.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000321","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000321","tested_point":"QST.IFRS15.000321","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B35A","IFRS 15 §B35"],"exercise":{"prompt":{"fr":"","en":"Arvel involves third parties in its contracts with customers. In which of the following situations does Arvel control the specified good or service before it is transferred to the customer?","es":""},"explanation":{"fr":"","en":"When a third party is involved, a principal controls, in particular, a good obtained from the third party and then transferred to the customer, a right to a service performed by the third party that it can direct on its behalf, or goods or services of the third party that it combines with others by providing a significant integration service (IFRS 15, para. B35A). Momentary legal title is not necessarily enough, and merely passing an order on to a supplier that delivers and sets the price shows no control (IFRS 15, para. B35).","es":""},"common_error":{"fr":"","en":"Equating momentary holding of title with control.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Arvel buys parts from a supplier, becomes their owner with the ability to dispose of them, then delivers them to the customer.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Arvel merely passes the customer's order on to a supplier, which delivers directly and sets the price.","es":""},"correct":false,"feedback":{"fr":"","en":"Arvel does not control the good: it arranges for it to be provided by a third party.","es":""}},{"id":"C","text":{"fr":"","en":"Arvel obtains the right to a service performed by a subcontractor, which it directs to serve the customer.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Arvel integrates components bought from third parties into a combined output it delivers, through a significant integration service.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Arvel holds legal title for an instant, only to facilitate invoicing, without being able to dispose of the good.","es":""},"correct":false,"feedback":{"fr":"","en":"Momentary title is not necessarily enough to establish control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000322","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000704","tested_point":"VG.IFRS15.000704","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B36"],"exercise":{"prompt":{"fr":"","en":"The booking platform Hôtelia connects travellers with hotels. Based on the case data, it has concluded that it does not control the room nights before they are transferred to the travellers and that it acts as an agent. In 20X1, travellers pay {gross_collected} for room nights through the platform, of which Hôtelia remits {remitted_to_hotels} to the hotels. What revenue does Hôtelia recognise for 20X1?","es":""},"explanation":{"fr":"","en":"As an agent, Hôtelia recognises as revenue the commission to which it expects to be entitled, which may be the net amount retained after paying the hotels (IFRS 15, para. B36): 500,000 − 425,000 = 75,000. The amounts remitted to the hotels are neither revenue nor an expense of Hôtelia.","es":""},"common_error":{"fr":"","en":"Recognising 500,000 as revenue and 425,000 as an expense.","es":""},"format":"CALCULATION","placeholders":[{"id":"gross_collected","value":"500000","unit":"EUR"},{"id":"remitted_to_hotels","value":"425000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Amount paid by travellers","es":""},"value":"500000","unit":"EUR"},{"label":{"fr":"","en":"Amount remitted to hotels","es":""},"value":"425000","unit":"EUR"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Hôtelia's revenue","es":""},"answer":75000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE","meaning":{"fr":"","en":"Hôtelia's revenue","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Amount paid by travellers","es":""},"value":500000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Amount remitted to hotels","es":""},"value":425000,"unit":"EUR"}],"result":75000,"unit":"EUR","rationale":{"fr":"","en":"As an agent, Hôtelia recognises as revenue the commission to which it expects to be entitled, which may be the net amount retained after paying the hotels (IFRS 15, para. B36): 500,000 − 425,000 = 75,000.","es":""}}],"references":["REF.IFRS15.B36"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000323","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000704","tested_point":"VG.IFRS15.000704","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B36","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"The online marketplace Artisane hosts jewellery designers who set their own prices, hold their own inventory and ship their orders; Artisane collects the price and deducts a commission of {commission_rate} on each sale. According to the analysis given by the case, Artisane does not control the jewellery before it is transferred. During May 20X1, the sales made by the designers on the marketplace amount to {seller_sales}. What revenue does Artisane recognise for May 20X1?","es":""},"explanation":{"fr":"","en":"The designers bear inventory risk and set the price, which points to Artisane not having control (IFRS 15, para. B37). As an agent, Artisane recognises its commission as revenue (IFRS 15, para. B36): 12% × 85,000 = 10,200. The 85,000 − 10,200 = 74,800 passed on to the designers is not its revenue.","es":""},"common_error":{"fr":"","en":"Recognising the total sales collected as revenue.","es":""},"format":"CALCULATION","placeholders":[{"id":"seller_sales","value":"85000","unit":"EUR"},{"id":"commission_rate","value":"12","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Sales made by the designers","es":""},"value":"85000","unit":"EUR"},{"label":{"fr":"","en":"Commission rate","es":""},"value":"12","unit":"PERCENT"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Artisane's revenue","es":""},"answer":10200,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE","meaning":{"fr":"","en":"Artisane's revenue","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Commission rate","es":""},"value":12,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Sales made by the designers","es":""},"value":85000,"unit":"EUR"}],"result":10200,"unit":"EUR","rationale":{"fr":"","en":"As an agent, Artisane recognises its commission as revenue (IFRS 15, para. B36): 12% × 85,000 = 10,200.","es":""}}],"references":["REF.IFRS15.B36","REF.IFRS15.B37"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000324","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000705","tested_point":"VG.IFRS15.000705","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B35B","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"Ébénis, a distributor of office furniture, buys chairs from a manufacturer, stores them in its warehouses, sets their selling price freely and is solely answerable to its customers for their compliance. It has concluded that it acts as a principal. In 20X1, it sells {units} chairs at a unit price of {sale_price}; it bought them at {purchase_price} each. What revenue does Ébénis recognise?","es":""},"explanation":{"fr":"","en":"Ébénis bears inventory risk, sets the price and is primarily responsible for fulfilment: these indicators support the conclusion that it controls the chairs before they are transferred (IFRS 15, para. B37). A principal recognises revenue at the gross amount of consideration to which it expects to be entitled (IFRS 15, para. B35B): 1,200 × 85 = 102,000. The purchase price of the chairs is part of cost of sales and does not reduce revenue.","es":""},"common_error":{"fr":"","en":"Recognising only the margin of 25 per chair as revenue.","es":""},"format":"CALCULATION","placeholders":[{"id":"units","value":"1200","unit":"UNITS"},{"id":"sale_price","value":"85","unit":"EUR"},{"id":"purchase_price","value":"60","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Number of chairs sold","es":""},"value":"1200","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price","es":""},"value":"85","unit":"EUR"},{"label":{"fr":"","en":"Unit purchase price","es":""},"value":"60","unit":"EUR"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Ébénis's revenue","es":""},"answer":102000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE","meaning":{"fr":"","en":"Ébénis's revenue","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Number of chairs sold","es":""},"value":1200,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit selling price","es":""},"value":85,"unit":"EUR"}],"result":102000,"unit":"EUR","rationale":{"fr":"","en":"A principal recognises revenue at the gross amount of consideration to which it expects to be entitled (IFRS 15, para. B35B): 1,200 × 85 = 102,000.","es":""}}],"references":["REF.IFRS15.B35B","REF.IFRS15.B37"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000325","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000705","tested_point":"VG.IFRS15.000705","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B35B","IFRS 15 §B35","IFRS 15 §B37"],"exercise":{"prompt":{"fr":"","en":"Festivo organises a music festival in July 20X2: it rents the site, hires the artists for a fixed fee, alone sets the ticket price, bears the risk of unsold places and is answerable to the public for how the festival runs. According to the analysis given by the case, Festivo acts as a principal for access to the festival. It sells {tickets} tickets at a price of {ticket_price} and pays a total of {third_party_costs} to the artists and the site owner. What revenue does Festivo recognise?","es":""},"explanation":{"fr":"","en":"A principal may use third parties to satisfy all or part of its obligation (IFRS 15, para. B35). Festivo is primarily responsible for the festival, bears the risk of unsold places and sets the price (IFRS 15, para. B37). As a principal, it recognises the gross amount of consideration (IFRS 15, para. B35B): 4,000 × 35 = 140,000. The 98,000 paid to third parties is an expense and is not deducted from revenue.","es":""},"common_error":{"fr":"","en":"Recognising the net amount of 42,000 as revenue.","es":""},"format":"CALCULATION","placeholders":[{"id":"tickets","value":"4000","unit":"UNITS"},{"id":"ticket_price","value":"35","unit":"EUR"},{"id":"third_party_costs","value":"98000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Number of tickets sold","es":""},"value":"4000","unit":"UNITS"},{"label":{"fr":"","en":"Price of a ticket","es":""},"value":"35","unit":"EUR"},{"label":{"fr":"","en":"Amounts paid to the artists and the site owner","es":""},"value":"98000","unit":"EUR"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Festivo's revenue","es":""},"answer":140000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE","meaning":{"fr":"","en":"Festivo's revenue","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Number of tickets sold","es":""},"value":4000,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Price of a ticket","es":""},"value":35,"unit":"EUR"}],"result":140000,"unit":"EUR","rationale":{"fr":"","en":"As a principal, it recognises the gross amount of consideration (IFRS 15, para. B35B): 4,000 × 35 = 140,000.","es":""}}],"references":["REF.IFRS15.B35B","REF.IFRS15.B35","REF.IFRS15.B37"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000328","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000328","tested_point":"QST.IFRS15.000328","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B36","IFRS 15 §B37","IFRS 15 §B34"],"exercise":{"prompt":{"fr":"","en":"The platform Domicilia offers gardening work performed by independent gardeners. Each gardener sets their own rate, accepts or refuses jobs and is solely answerable for the quality of their work; Domicilia makes no commitment to the customer to perform the work and holds no inventory. Domicilia collects the price, bears the risk of non-payment and passes 85% of the price on to the gardener. What conclusion should be reached?","es":""},"explanation":{"fr":"","en":"For the gardening service, no indicator of control is present at Domicilia: it is not primarily responsible for fulfilment, has no inventory risk and does not set the price (IFRS 15, para. B37). Its obligation is to arrange for the service to be provided by the gardener (IFRS 15, para. B34): it is an agent and recognises its commission, here the 15% retained (IFRS 15, para. B36). The risk of non-payment and collecting the price are not among the indicators cited and are not enough to establish control.","es":""},"common_error":{"fr":"","en":"Concluding that the entity is a principal on the sole basis of credit risk.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Domicilia is a principal, since it bears the customer's risk of non-payment.","es":""},"correct":false,"feedback":{"fr":"","en":"Credit risk is not among the indicators cited and does not demonstrate control of the service.","es":""}},{"id":"B","text":{"fr":"","en":"Domicilia is an agent and recognises its 15% commission as revenue.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Domicilia is a principal, because it collects the full price paid by the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Collecting the price does not establish control of the service before it is transferred.","es":""}},{"id":"D","text":{"fr":"","en":"Domicilia is a principal for 85% of the price and an agent for the remaining 15%.","es":""},"correct":false,"feedback":{"fr":"","en":"The analysis concerns the specified service, not fractions of the price.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000329","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000329","tested_point":"QST.IFRS15.000329","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B34A","IFRS 15 §B37","IFRS 15 §B35B"],"exercise":{"prompt":{"fr":"","en":"The tour operator Escalis buys 200 seats on charter flights at the start of the season, non-refundable and non-cancellable, which it then resells to travellers at a price it sets freely. Unsold seats remain at its cost, and it handles travellers' requests itself. The airline operates the aircraft and performs the flight. What analysis should be adopted for the seats sold?","es":""},"explanation":{"fr":"","en":"The specified good or service may be a right to a service provided by a third party; the entity assesses whether it controls that right before it is transferred (IFRS 15, para. B34A). Escalis acquires the flight rights in advance, bears the risk of unsold seats and sets the price: these indicators support the conclusion that it controls the rights before passing them on (IFRS 15, para. B37). It acts as a principal and recognises the gross amount paid by travellers (IFRS 15, para. B35B). The conclusion is a matter of judgement on all the facts.","es":""},"common_error":{"fr":"","en":"Confusing the right to travel with operating the flight.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Escalis is an agent, since it is the airline that performs the flight.","es":""},"correct":false,"feedback":{"fr":"","en":"The specified good is the right to travel, which Escalis controls; performance of the flight by a third party is not decisive.","es":""}},{"id":"B","text":{"fr":"","en":"Escalis is a principal for operating the aircraft, which it has undertaken to do.","es":""},"correct":false,"feedback":{"fr":"","en":"Escalis does not undertake to operate the aircraft: the specified good is the right to travel on the flight.","es":""}},{"id":"C","text":{"fr":"","en":"The specified good is the right to travel on the flight: Escalis controls it before passing it on and acts as a principal.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No conclusion is possible until all three indicators of control are unambiguously present.","es":""},"correct":false,"feedback":{"fr":"","en":"The indicators support the analysis of control; they do not form a list of cumulative conditions.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000330","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000330","tested_point":"QST.IFRS15.000330","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":210,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15 §B35A","IFRS 15 §B35","IFRS 15 §B35B"],"exercise":{"prompt":{"fr":"","en":"Construa undertakes to deliver to a hospital an operational air-conditioning system that meets a specification. It buys the chillers and ducts from suppliers, has the installation performed by a subcontractor that it directs and provides the engineering that integrates everything into a single system. The price invoiced to the hospital is 2,400,000; the purchases and subcontracting cost 1,900,000. What analysis should be adopted?","es":""},"explanation":{"fr":"","en":"A principal controls, in particular, goods or services of a third party that it combines with others to provide the specified good, especially when it provides a significant integration service (IFRS 15, para. B35A). The specified good here is the integrated system; using suppliers and a subcontractor does not prevent Construa from being a principal (IFRS 15, para. B35). It therefore recognises the gross amount of 2,400,000 (IFRS 15, para. B35B), the 1,900,000 being costs.","es":""},"common_error":{"fr":"","en":"Analysing each piece of equipment in isolation instead of the integrated system promised.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Construa is an agent for the equipment purchased and a principal only for the engineering, whose price it recognises.","es":""},"correct":false,"feedback":{"fr":"","en":"The specified good is the integrated system, not each piece of equipment taken in isolation.","es":""}},{"id":"B","text":{"fr":"","en":"Construa is an agent, because most of the equipment and installation is provided by third parties; its revenue is 500,000.","es":""},"correct":false,"feedback":{"fr":"","en":"Using third parties does not prevent an entity from being a principal when it integrates their inputs into the specified good.","es":""}},{"id":"C","text":{"fr":"","en":"Construa is a principal merely because it signed the contract with the hospital, with no need to analyse control.","es":""},"correct":false,"feedback":{"fr":"","en":"Signing the contract is not enough: control of the specified good before transfer determines the role.","es":""}},{"id":"D","text":{"fr":"","en":"Construa is a principal: it controls the integrated system through its significant integration service; revenue of 2,400,000.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000331","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.PRINCIPAL_AGENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000331","tested_point":"QST.IFRS15.000331","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000016","section_id":"specified-good"},"references":["IFRS 15","IFRS 15 §B36"],"exercise":{"prompt":{"fr":"","en":"Tessel had entered into a two-year maintenance contract with a customer. Halfway through, with the customer's agreement, Prima assumes all of Tessel's performance obligations and contractual rights, and Tessel is no longer obliged to provide the maintenance. Prima pays Tessel a fee for having brought it this contract. How does Tessel analyse the remainder of the contract?","es":""},"explanation":{"fr":"","en":"When another entity assumes the entity's performance obligations and contractual rights, so that the entity is no longer obliged to provide the service, the entity no longer recognises revenue for that obligation; instead, it assesses whether it acts as an agent in obtaining a contract for the other entity (IFRS 15, para. B38). Where applicable, its revenue is the fee to which it expects to be entitled (IFRS 15, para. B36).","es":""},"common_error":{"fr":"","en":"Continuing to recognise revenue for an obligation assumed by a third party.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It continues to recognise maintenance revenue until the scheduled end, since it signed the original contract.","es":""},"correct":false,"feedback":{"fr":"","en":"Tessel is no longer obliged to provide the maintenance: it can no longer recognise revenue for it.","es":""}},{"id":"B","text":{"fr":"","en":"It immediately recognises as revenue the whole price still owed by the customer for the two years.","es":""},"correct":false,"feedback":{"fr":"","en":"Tessel no longer owes any performance: the remaining price is not its own.","es":""}},{"id":"C","text":{"fr":"","en":"It stops recognising revenue for the obligation assumed and assesses whether it is an agent in obtaining the contract.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It recognises the future maintenance at its gross amount and presents Prima's fee as a reduction of that revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"Tessel no longer provides the maintenance; it cannot recognise its gross amount.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000333","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000333","tested_point":"QST.IFRS15.000333","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B40"],"exercise":{"prompt":{"fr":"","en":"Any option allowing the customer to acquire additional goods at a discount is a performance obligation, whatever the level of that discount.","es":""},"explanation":{"fr":"","en":"An option gives rise to a performance obligation only if it provides the customer with a material right that it would not receive without entering into the contract, for example a discount that is incremental to the discounts typically given to that class of customers in that market (IFRS 15, para. B40). A discount that any customer of the same class obtains anyway does not provide a material right.","es":""},"common_error":{"fr":"","en":"Treating any future discount as a material right.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000334","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000334","tested_point":"QST.IFRS15.000334","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B40"],"exercise":{"prompt":{"fr":"","en":"When an option provides a material right, the customer in effect pays in advance for future goods or services; the related revenue is recognised when those goods or services are transferred or when the option expires.","es":""},"explanation":{"fr":"","en":"A material right means that the customer in substance pays in advance for future goods or services: the entity recognises the related revenue when those goods or services are transferred or when the option expires (IFRS 15, para. B40).","es":""},"common_error":{"fr":"","en":"Recognising the revenue for the material right at the time of the initial sale.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000335","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000335","tested_point":"QST.IFRS15.000335","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"When the stand-alone selling price of an option providing a material right is not directly observable, the entity estimates it from the discount the customer would obtain when exercising the option, adjusted for the discount it could obtain without exercising it and for the likelihood of exercise.","es":""},"explanation":{"fr":"","en":"The transaction price is allocated to the performance obligations, including the option, on a relative stand-alone selling price basis. If the option's price is not observable, it is estimated from the discount obtained on exercise, adjusted for the discount available without exercising the option and for the likelihood of exercise (IFRS 15, para. B42). The likelihood of exercise used is an estimate made by the entity.","es":""},"common_error":{"fr":"","en":"Measuring the option without taking the likelihood of exercise into account.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000336","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000336","tested_point":"QST.IFRS15.000336","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B40"],"exercise":{"prompt":{"fr":"","en":"Pastelle sells annual subscriptions to its painting workshops. In which of the following cases does the subscription provide the customer with a material right?","es":""},"explanation":{"fr":"","en":"An option provides a material right when the customer obtains through the contract a benefit it would not otherwise have obtained, for example a discount that is incremental to the discounts typically given to that class of customers in that market (IFRS 15, para. B40). Only the 30% voucher, when other customers obtain at most 10%, meets this condition.","es":""},"common_error":{"fr":"","en":"Seeing a material right in a discount available to everyone.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Subscribers can buy supplies at a 10% discount, a discount granted to all customers of the same class.","es":""},"correct":false,"feedback":{"fr":"","en":"This discount is available without the subscription: it does not provide a material right.","es":""}},{"id":"B","text":{"fr":"","en":"Subscribers receive a voucher for 30% off supplies; other customers obtain at most 10%.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Subscribers receive a catalogue showing the supplies at the prices charged to all customers.","es":""},"correct":false,"feedback":{"fr":"","en":"The catalogue offers no benefit that the customer would not have obtained without the subscription.","es":""}},{"id":"D","text":{"fr":"","en":"Subscribers can take part in a promotional sale at a 10% discount open to the general public during the same period.","es":""},"correct":false,"feedback":{"fr":"","en":"The promotion is open to everyone: it does not depend on the subscription.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000337","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000337","tested_point":"QST.IFRS15.000337","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B43","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Clarivia sells annual lift maintenance contracts. Each customer may renew its contract for two further years on the same terms, whereas the rates offered to new customers are rising significantly. According to the case data, the renewal option provides a material right. What possibility does IFRS 15 give Clarivia for allocating the price?","es":""},"explanation":{"fr":"","en":"When the material right relates to future services that are similar to the original services and provided in accordance with the terms of the original contract, such as a renewal, the entity may, instead of estimating the stand-alone selling price of the option, allocate the transaction price by reference to the services it expects to provide and the corresponding expected consideration (IFRS 15, para. B43). Otherwise, the option would be measured using the general method (IFRS 15, para. B42).","es":""},"common_error":{"fr":"","en":"Ignoring the renewal option when allocating the price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Allocate nothing to the option and recognise each renewal when it is exercised.","es":""},"correct":false,"feedback":{"fr":"","en":"The option provides a material right: part of the price must be allocated to it.","es":""}},{"id":"B","text":{"fr":"","en":"Immediately recognise the value of the option as revenue when the original contract is signed.","es":""},"correct":false,"feedback":{"fr":"","en":"Revenue for a material right is deferred until the future services are transferred or the option expires.","es":""}},{"id":"C","text":{"fr":"","en":"Allocate to the option the total discount it provides over the two years, ignoring the likelihood of renewal.","es":""},"correct":false,"feedback":{"fr":"","en":"This measurement ignores the likelihood of exercise and is not the permitted simplification.","es":""}},{"id":"D","text":{"fr":"","en":"Allocate the price by reference to the expected maintenance services, renewals included, and the corresponding expected consideration.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000338","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000338","tested_point":"QST.IFRS15.000338","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B40","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Which of the following statements about options to acquire additional goods or services are correct?","es":""},"explanation":{"fr":"","en":"An option that provides a material right is a performance obligation; the customer pays in advance for future goods or services, and revenue is recognised when they are transferred or when the option expires (IFRS 15, para. B40). The transaction price is allocated to the performance obligations, including the option, on a relative stand-alone selling price basis; if no price is observable, the option's price is estimated taking into account, in particular, the likelihood of exercise (IFRS 15, para. B42).","es":""},"common_error":{"fr":"","en":"Recognising the option's revenue at the time of the initial sale.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An option that provides a material right is a performance obligation.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"An option can never be a performance obligation, since no good is transferred at the contract date.","es":""},"correct":false,"feedback":{"fr":"","en":"An option providing a material right is a performance obligation.","es":""}},{"id":"C","text":{"fr":"","en":"The transaction price is allocated to the goods sold and the option on a relative stand-alone selling price basis.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The revenue allocated to the option is recognised as soon as the original contract is entered into.","es":""},"correct":false,"feedback":{"fr":"","en":"This revenue is recognised when the future goods are transferred or when the option expires.","es":""}},{"id":"E","text":{"fr":"","en":"The estimated stand-alone selling price of the option takes into account the likelihood that the customer will exercise it.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000339","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000707","tested_point":"VG.IFRS15.000707","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Lunetta, an optician, gives each buyer of glasses a voucher for {option_discount} off a future purchase, valid for six months. According to the case data: the average amount of a future purchase is {expected_purchase}; any customer can obtain a seasonal discount of {general_discount} without the voucher; Lunetta estimates the likelihood that the voucher will be used at {exercise_probability}. The voucher provides a material right and its stand-alone selling price is not observable. Estimate the stand-alone selling price of one voucher.","es":""},"explanation":{"fr":"","en":"The stand-alone selling price of the option is estimated from the discount obtained on exercise, adjusted for the discount available without the option and for the likelihood of exercise (IFRS 15, para. B42). The incremental discount is 40% − 10% = 30%, that is 30% × 500 = 150 per purchase; weighted by the likelihood of use: 150 × 80% = 120. The average purchase amount and the likelihood are estimates given by the case.","es":""},"common_error":{"fr":"","en":"Forgetting the likelihood of use and taking 150.","es":""},"format":"CALCULATION","placeholders":[{"id":"expected_purchase","value":"500","unit":"EUR"},{"id":"option_discount","value":"40","unit":"PERCENT"},{"id":"general_discount","value":"10","unit":"PERCENT"},{"id":"exercise_probability","value":"80","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Average amount of a future purchase","es":""},"value":"500","unit":"EUR"},{"label":{"fr":"","en":"Discount offered by the voucher","es":""},"value":"40","unit":"PERCENT"},{"label":{"fr":"","en":"Discount available without the voucher","es":""},"value":"10","unit":"PERCENT"},{"label":{"fr":"","en":"Likelihood that the voucher will be used","es":""},"value":"80","unit":"PERCENT"}],"steps":[{"id":"OPTION_SSP","label":{"fr":"","en":"Estimated stand-alone selling price of one voucher","es":""},"answer":120,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000340","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000707","tested_point":"VG.IFRS15.000707","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"In November 20X1, the furniture store Boisdoré hands {vouchers} coupons to buyers of sofas; each coupon gives {coupon_discount} off a next furniture purchase. According to the case data, the average next purchase is estimated at {average_next_purchase}, any customer receives a usual discount of {usual_discount} without a coupon and the likelihood that a coupon will be used is {redemption_likelihood}. The coupons provide a material right. Calculate the estimated stand-alone selling price of one coupon, then of all the coupons.","es":""},"explanation":{"fr":"","en":"In the absence of an observable price, the estimate starts from the discount obtained on exercise, adjusted for the discount available without the option and for the likelihood of exercise (IFRS 15, para. B42). Incremental discount: 25% − 5% = 20%, that is 20% × 800 = 160; weighting: 160 × 60% = 96 per coupon. For all of them: 250 × 96 = 24,000. The assumptions of average purchase and likelihood are case data.","es":""},"common_error":{"fr":"","en":"Taking 25% × 800 × 250 without adjustment.","es":""},"format":"CALCULATION","placeholders":[{"id":"vouchers","value":"250","unit":"UNITS"},{"id":"coupon_discount","value":"25","unit":"PERCENT"},{"id":"average_next_purchase","value":"800","unit":"EUR"},{"id":"usual_discount","value":"5","unit":"PERCENT"},{"id":"redemption_likelihood","value":"60","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Number of coupons handed out","es":""},"value":"250","unit":"UNITS"},{"label":{"fr":"","en":"Discount offered by a coupon","es":""},"value":"25","unit":"PERCENT"},{"label":{"fr":"","en":"Estimated average next purchase","es":""},"value":"800","unit":"EUR"},{"label":{"fr":"","en":"Usual discount without a coupon","es":""},"value":"5","unit":"PERCENT"},{"label":{"fr":"","en":"Likelihood that a coupon will be used","es":""},"value":"60","unit":"PERCENT"}],"steps":[{"id":"SSP_PER_VOUCHER","label":{"fr":"","en":"Estimated stand-alone selling price of one coupon","es":""},"answer":96,"tolerance":0,"unit":"EUR"},{"id":"SSP_ALL_VOUCHERS","label":{"fr":"","en":"Estimated stand-alone selling price of all the coupons","es":""},"answer":24000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"SSP_ALL_VOUCHERS","meaning":{"fr":"","en":"Estimated stand-alone selling price of all the coupons","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Number of coupons handed out","es":""},"value":250,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Estimated stand-alone selling price of one coupon","es":""},"value":96,"unit":"EUR"}],"result":24000,"unit":"EUR"}],"rationale":{"fr":"","en":"In the absence of an observable price, the estimate starts from the discount obtained on exercise, adjusted for the discount available without the option and for the likelihood of exercise (IFRS 15, para. B42).","es":""},"references":["REF.IFRS15.B42"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000341","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000708","tested_point":"VG.IFRS15.000708","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15","IFRS 15 §B40","IFRS 15 §74"],"exercise":{"prompt":{"fr":"","en":"Orbelle sells a robot vacuum cleaner at a price of {price}, which matches its stand-alone selling price of {product_ssp}. With each vacuum cleaner, it gives a voucher providing a material right on its accessories, whose stand-alone selling price has been estimated at {option_ssp}. Allocate the transaction price between the vacuum cleaner and the voucher, and state when the amount allocated to the voucher will be recognised as revenue.","es":""},"explanation":{"fr":"","en":"The transaction price is allocated to the vacuum cleaner and the option on a relative stand-alone selling price basis (IFRS 15, para. B42 and 74). Total stand-alone selling prices: 1,000 + 250 = 1,250. Vacuum cleaner: 1,000 × 1,000 / 1,250 = 800; voucher: 1,000 × 250 / 1,250 = 200. The 200 is recognised as revenue when the accessories are transferred or when the voucher expires (IFRS 15, para. B40). The estimate of 250 is case data.","es":""},"common_error":{"fr":"","en":"Allocating 1,000 to the vacuum cleaner and nothing to the voucher.","es":""},"format":"CALCULATION","placeholders":[{"id":"price","value":"1000","unit":"EUR"},{"id":"product_ssp","value":"1000","unit":"EUR"},{"id":"option_ssp","value":"250","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Selling price of the vacuum cleaner","es":""},"value":"1000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the vacuum cleaner","es":""},"value":"1000","unit":"EUR"},{"label":{"fr":"","en":"Estimated stand-alone selling price of the voucher","es":""},"value":"250","unit":"EUR"}],"steps":[{"id":"PRODUCT_ALLOCATION","label":{"fr":"","en":"Price allocated to the vacuum cleaner","es":""},"answer":800,"tolerance":0,"unit":"EUR"},{"id":"OPTION_ALLOCATION","label":{"fr":"","en":"Price allocated to the voucher","es":""},"answer":200,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000342","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000708","tested_point":"VG.IFRS15.000708","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15","IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"During a December 20X2 promotion, the retailer Sonalis sells {units} headsets at a unit price of {unit_price}, equal to their stand-alone selling price. Each buyer receives a purchase voucher which, according to the analysis given by the case, provides a material right; the stand-alone selling price of all the vouchers, which is not observable, is estimated at {vouchers_ssp} after taking into account the likelihood of use. Allocate the total transaction price between the headsets and the vouchers.","es":""},"explanation":{"fr":"","en":"The transaction price, 400 × 120 = 48,000, is allocated to the headsets and the vouchers on a relative stand-alone selling price basis (IFRS 15, para. B42), determined at contract inception (IFRS 15, para. 76). Total: 48,000 + 12,000 = 60,000. Headsets: 48,000 × 48,000 / 60,000 = 38,400; vouchers: 48,000 × 12,000 / 60,000 = 9,600. The estimate of the vouchers' price is case data.","es":""},"common_error":{"fr":"","en":"Allocating 12,000 to the vouchers and 36,000 to the headsets.","es":""},"format":"CALCULATION","placeholders":[{"id":"units","value":"400","unit":"UNITS"},{"id":"unit_price","value":"120","unit":"EUR"},{"id":"vouchers_ssp","value":"12000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Number of headsets sold","es":""},"value":"400","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price of a headset","es":""},"value":"120","unit":"EUR"},{"label":{"fr":"","en":"Estimated stand-alone selling price of all the vouchers","es":""},"value":"12000","unit":"EUR"}],"steps":[{"id":"HEADSETS_ALLOCATION","label":{"fr":"","en":"Price allocated to the headsets","es":""},"answer":38400,"tolerance":0,"unit":"EUR"},{"id":"VOUCHERS_ALLOCATION","label":{"fr":"","en":"Price allocated to the vouchers","es":""},"answer":9600,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"HEADSETS_ALLOCATION","meaning":{"fr":"","en":"Price allocated to the headsets","es":""},"expression":"(a * b) * (a * b) / ((a * b) + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Number of headsets sold","es":""},"value":400,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit selling price of a headset","es":""},"value":120,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Estimated stand-alone selling price of all the vouchers","es":""},"value":12000,"unit":"EUR"}],"result":38400,"unit":"EUR"},{"step":"VOUCHERS_ALLOCATION","meaning":{"fr":"","en":"Price allocated to the vouchers","es":""},"expression":"(a * b) * c / ((a * b) + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Number of headsets sold","es":""},"value":400,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit selling price of a headset","es":""},"value":120,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Estimated stand-alone selling price of all the vouchers","es":""},"value":12000,"unit":"EUR"}],"result":9600,"unit":"EUR"}],"rationale":{"fr":"","en":"The transaction price, 400 × 120 = 48,000, is allocated to the headsets and the vouchers on a relative stand-alone selling price basis (IFRS 15, para. B42), determined at contract inception (IFRS 15, para. 76).","es":""},"references":["REF.IFRS15.B42","REF.IFRS15.76"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000343","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000343","tested_point":"QST.IFRS15.000343","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B40"],"exercise":{"prompt":{"fr":"","en":"Brasaro sells espresso machines and gives each buyer a card offering 10% off capsules for one year. The same 10% discount is granted to anyone who joins the brand's club free of charge, without buying a machine. How does Brasaro account for the card given with the machine?","es":""},"explanation":{"fr":"","en":"An option gives rise to a performance obligation only if it provides a material right that the customer would not have received without entering into the contract (IFRS 15, para. B40). Here, the same discount is available to anyone who joins the club free of charge: the card does not provide a material right. No part of the price is allocated to the card; capsule purchases will be accounted for when they occur.","es":""},"common_error":{"fr":"","en":"Seeing a material right in a discount available without the contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a material right, to which part of the machine's price is allocated.","es":""},"correct":false,"feedback":{"fr":"","en":"The discount is available without buying a machine: there is no material right.","es":""}},{"id":"B","text":{"fr":"","en":"As a material right whose revenue is recognised as soon as the machine is sold.","es":""},"correct":false,"feedback":{"fr":"","en":"There is no material right; and if there were, its revenue would be deferred.","es":""}},{"id":"C","text":{"fr":"","en":"As an option without a material right: no separate performance obligation, the whole price goes to the machine.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As a material right measured at 10% of the capsules the customer will buy, with no likelihood of exercise.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not a material right; moreover, the measurement would omit the likelihood of exercise.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000344","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS","IFRS15.PRESENTATION.CONTRACT_BALANCES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000344","tested_point":"QST.IFRS15.000344","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000014","section_id":"contract-asset-liability"},"references":["IFRS 15 §B40","IFRS 15 §106"],"exercise":{"prompt":{"fr":"","en":"On its 20X1 sales, Velya allocated 9,600 to purchase vouchers providing a material right, valid until 30 June 20X2; this amount, paid by customers before the future goods are provided, is presented as a contract liability. The vouchers used gave rise to the recognition of the corresponding revenue when the items were delivered. On 30 June 20X2, all the remaining vouchers expire unused; 2,400 remains in the contract liability for them. How should this balance be treated?","es":""},"explanation":{"fr":"","en":"A customer that receives a material right pays in advance for future goods or services; revenue is recognised when they are transferred or when the option expires (IFRS 15, para. B40). The amount paid before the goods are provided is presented as a contract liability (IFRS 15, para. 106). When the vouchers expire, the remaining 2,400 is therefore recognised as revenue.","es":""},"common_error":{"fr":"","en":"Keeping indefinitely in liabilities the amount allocated to expired vouchers.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Keep it in the contract liability until customers make new purchases without a voucher.","es":""},"correct":false,"feedback":{"fr":"","en":"The vouchers have expired: no goods are owed any longer in respect of them.","es":""}},{"id":"B","text":{"fr":"","en":"Recognise it as revenue when the vouchers expire.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Reclassify it to equity, since the vouchers were not used.","es":""},"correct":false,"feedback":{"fr":"","en":"The amount deferred for a material right is revenue, not a contribution to equity.","es":""}},{"id":"D","text":{"fr":"","en":"Retrospectively correct 20X1 revenue, as the initial estimate of redemptions proved too high.","es":""},"correct":false,"feedback":{"fr":"","en":"The expiry of the option leads to revenue being recognised on that date, without correcting the past.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000345","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000345","tested_point":"QST.IFRS15.000345","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Mirabel's analyst estimated the stand-alone selling price of a 30% discount voucher by multiplying that rate by the average amount of future purchases, 600, giving 180. According to the case data, any customer obtains a discount of 5% without a voucher and the likelihood that the voucher will be used is 70%. The voucher provides a material right and its price is not observable. Which estimate complies with IFRS 15?","es":""},"explanation":{"fr":"","en":"The estimate starts from the discount obtained on exercise, adjusted for the discount available without the option and for the likelihood of exercise (IFRS 15, para. B42): 600 × (30% − 5%) × 70% = 105. The analyst omitted both adjustments; the 70% likelihood is an estimate given by the case.","es":""},"common_error":{"fr":"","en":"Measuring the option without taking the likelihood of exercise into account.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"180, since only the discount shown on the voucher matters.","es":""},"correct":false,"feedback":{"fr":"","en":"The discount available without the voucher must be removed and the likelihood of use taken into account.","es":""}},{"id":"B","text":{"fr":"","en":"126, that is 180 × 70%, the discount available without a voucher being irrelevant.","es":""},"correct":false,"feedback":{"fr":"","en":"The 5% discount available without a voucher must be deducted.","es":""}},{"id":"C","text":{"fr":"","en":"150, that is 600 × (30% − 5%), without weighting by the likelihood of use.","es":""},"correct":false,"feedback":{"fr":"","en":"The 70% likelihood of use must be taken into account.","es":""}},{"id":"D","text":{"fr":"","en":"105, that is 600 × (30% − 5%) × 70%.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000346","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000346","tested_point":"QST.IFRS15.000346","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"On 15 November 20X1, the caterer Saveurs de Loire receives a non-refundable deposit of EUR 4,000 for a banquet scheduled on 20 January 20X2. True or false: because the deposit is non-refundable, the caterer recognises revenue of EUR 4,000 in its 20X1 financial statements.","es":""},"explanation":{"fr":"","en":"The payment received in advance obliges the caterer to provide a future service: it is recognised as a contract liability and then derecognised, with revenue recognised, when the service is provided, here at the January 20X2 banquet (IFRS 15, para. B44). Being non-refundable only means that the customer has acquired a right to that future service (IFRS 15, para. B45); it does not trigger revenue recognition.","es":""},"common_error":{"fr":"","en":"Confusing the non-refundable nature of a cash receipt with the transfer of the service.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000347","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000347","tested_point":"QST.IFRS15.000347","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The bookshop Page Blanche sells non-refundable gift cards that can be exchanged for books. True or false: the payment received gives the customer a right to future goods, and part of those rights may never be exercised; these unexercised rights are commonly referred to as breakage.","es":""},"explanation":{"fr":"","en":"A non-refundable prepayment gives the customer a right to receive future goods or services, and some customers do not exercise all of those rights, which are often called breakage (IFRS 15, para. B45). When the card is sold, the bookshop recognises a contract liability, derecognised as revenue when the books are handed over (IFRS 15, para. B44). The treatment of rights that the entity expects not to be exercised is not the subject of this question.","es":""},"common_error":{"fr":"","en":"Treating the sale of a gift card as the sale of goods already transferred.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000348","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000348","tested_point":"QST.IFRS15.000348","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15","IFRS 15 §B50"],"exercise":{"prompt":{"fr":"","en":"The Azur sports club charges each new member a non-refundable registration fee of EUR 250, in addition to a monthly subscription of EUR 40. Registration involves opening a file and handing over a badge, without any service yet being provided to the member. How does the club account for the registration fee?","es":""},"explanation":{"fr":"","en":"The club first assesses whether the fee relates to the transfer of a promised good or service. Here, opening the file and handing over the badge are internal activities that transfer nothing to the member: the fee is an advance payment for future services and is recognised as revenue when those services are provided (IFRS 15, para. B49). The question of a distinct performance obligation only arises if the fee relates to a good or service transferred (IFRS 15, para. B50).","es":""},"common_error":{"fr":"","en":"Recognising membership fees as revenue on collection although no service is transferred.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As revenue as soon as it is collected, since it is non-refundable.","es":""},"correct":false,"feedback":{"fr":"","en":"Being non-refundable is not enough: no service is transferred on registration, so revenue cannot be recognised on collection.","es":""}},{"id":"B","text":{"fr":"","en":"As the price of a distinct performance obligation, satisfied when the file is opened and the badge handed over.","es":""},"correct":false,"feedback":{"fr":"","en":"The registration tasks transfer no service to the member: they are not a performance obligation.","es":""}},{"id":"C","text":{"fr":"","en":"As an advance payment for future services, recognised as revenue when those services are provided.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As a reduction of the administrative costs incurred to open the file.","es":""},"correct":false,"feedback":{"fr":"","en":"A fee charged to the customer is consideration received, not a reduction of costs.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000349","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000349","tested_point":"QST.IFRS15.000349","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15","IFRS 15 §B50"],"exercise":{"prompt":{"fr":"","en":"Hydrolis, which installs and maintains water fountains in offices, charges its customers non-refundable upfront fees when contracts are signed. Which of the following statements are correct?","es":""},"explanation":{"fr":"","en":"The entity assesses whether the upfront fee relates to the transfer of a promised good or service; often, start-up activities transfer nothing to the customer and the fee is an advance payment for future goods or services, recognised as revenue when they are provided, possibly beyond the initial term if a renewal option provides a material right (IFRS 15, para. B49). If the fee relates to a good or service, the entity assesses whether it is a separate performance obligation in accordance with paragraphs 22 to 30 (IFRS 15, para. B50).","es":""},"common_error":{"fr":"","en":"Recognising upfront fees as revenue on signature only because they are non-refundable.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Non-refundable upfront fees are always recognised as revenue on signature, because the entity will never have to give them back.","es":""},"correct":false,"feedback":{"fr":"","en":"Being non-refundable does not determine when revenue arises: a good or service must be transferred.","es":""}},{"id":"B","text":{"fr":"","en":"Hydrolis assesses whether the fee relates to the transfer of a promised good or service to the customer.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Any activity performed by Hydrolis at contract start is a performance obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"Many start-up activities are internal tasks that transfer nothing to the customer.","es":""}},{"id":"D","text":{"fr":"","en":"If the fee relates to a promised good or service, Hydrolis assesses whether it must be accounted for as a separate performance obligation in accordance with paragraphs 22 to 30.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"When the fee is an advance payment for future services, the revenue recognition period may extend beyond the initial term if a renewal option provides a material right.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000350","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000801","tested_point":"VG.IFRS15.000801","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"On 1 September 20X1, the Lotus studio sells a non-refundable book of {sessions_total} yoga sessions for {package_price}, collected the same day. At 31 December 20X1, the customer has attended {sessions_used} sessions. The studio expects all sessions to be used (case data) and all sessions have the same value (teaching assumption). Determine the 20X1 revenue and the contract liability at 31 December 20X1.","es":""},"explanation":{"fr":"","en":"On collection, the studio recognises a contract liability of 3,000, which it derecognises as revenue as the sessions are provided (IFRS 15, para. B44). Value of one session: 3,000 / 40 = 75; 20X1 revenue: 12 × 75 = 900; remaining contract liability: 3,000 − 900 = 2,100.","es":""},"common_error":{"fr":"","en":"Recognising the 3,000 as revenue on collection.","es":""},"format":"CALCULATION","placeholders":[{"id":"package_price","value":"3000","unit":"EUR"},{"id":"sessions_total","value":"40","unit":"UNITS"},{"id":"sessions_used","value":"12","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Price of the book collected","es":""},"value":"3000","unit":"EUR"},{"label":{"fr":"","en":"Number of sessions in the book","es":""},"value":"40","unit":"UNITS"},{"label":{"fr":"","en":"Sessions attended in 20X1","es":""},"value":"12","unit":"UNITS"}],"steps":[{"id":"REVENUE_20X1","label":{"fr":"","en":"Revenue for 20X1","es":""},"answer":900,"tolerance":0,"unit":"EUR"},{"id":"CONTRACT_LIABILITY_END","label":{"fr":"","en":"Contract liability at 31 December 20X1","es":""},"answer":2100,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE_20X1","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"expression":"a * (b / c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sessions attended in 20X1","es":""},"value":12,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Price of the book collected","es":""},"value":3000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Number of sessions in the book","es":""},"value":40,"unit":"UNITS"}],"result":900,"unit":"EUR"},{"step":"CONTRACT_LIABILITY_END","meaning":{"fr":"","en":"Contract liability at 31 December 20X1","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Price of the book collected","es":""},"value":3000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"value":900,"unit":"EUR"}],"result":2100,"unit":"EUR"}],"rationale":{"fr":"","en":"On collection, the studio recognises a contract liability of 3,000, which it derecognises as revenue as the sessions are provided (IFRS 15, para. B44).","es":""},"references":["REF.IFRS15.B44"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000351","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000801","tested_point":"VG.IFRS15.000801","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"On 1 October 20X1, the software publisher Formatech collects a non-refundable prepayment of {prepayment} for a package of {days_total} training days, which the customer company schedules freely over eighteen months. At the 31 December 20X1 year end, {days_delivered} days have been delivered. Formatech expects the package to be used in full (case data); each day has the same value (teaching assumption). Calculate the revenue to be recognised in 20X1 and the contract liability balance at year end.","es":""},"explanation":{"fr":"","en":"The prepayment is recognised as a contract liability and derecognised as revenue as each training day is delivered (IFRS 15, para. B44). Value of one day: 18,000 / 15 = 1,200; 20X1 revenue: 6 × 1,200 = 7,200; contract liability at year end: 18,000 − 7,200 = 10,800.","es":""},"common_error":{"fr":"","en":"Spreading the payment over the eighteen-month period instead of the days delivered.","es":""},"format":"CALCULATION","placeholders":[{"id":"prepayment","value":"18000","unit":"EUR"},{"id":"days_total","value":"15","unit":"UNITS"},{"id":"days_delivered","value":"6","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Prepayment collected","es":""},"value":"18000","unit":"EUR"},{"label":{"fr":"","en":"Training days planned","es":""},"value":"15","unit":"UNITS"},{"label":{"fr":"","en":"Days delivered in 20X1","es":""},"value":"6","unit":"UNITS"}],"steps":[{"id":"REVENUE_20X1","label":{"fr":"","en":"Revenue for 20X1","es":""},"answer":7200,"tolerance":0,"unit":"EUR"},{"id":"CONTRACT_LIABILITY_END","label":{"fr":"","en":"Contract liability at year end","es":""},"answer":10800,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE_20X1","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"expression":"a * (b / c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Days delivered in 20X1","es":""},"value":6,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Prepayment collected","es":""},"value":18000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Training days planned","es":""},"value":15,"unit":"UNITS"}],"result":7200,"unit":"EUR"},{"step":"CONTRACT_LIABILITY_END","meaning":{"fr":"","en":"Contract liability at year end","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Prepayment collected","es":""},"value":18000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"value":7200,"unit":"EUR"}],"result":10800,"unit":"EUR"}],"rationale":{"fr":"","en":"The prepayment is recognised as a contract liability and derecognised as revenue as each training day is delivered (IFRS 15, para. B44).","es":""},"references":["REF.IFRS15.B44"]}},"scope":"CORE_STUDENT","reserve":true},{"key":"QST.IFRS15.000354","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000354","tested_point":"QST.IFRS15.000354","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15","IFRS 15 §B50"],"exercise":{"prompt":{"fr":"","en":"Nuvola signs a 24-month data hosting contract with a customer, for a monthly fee of EUR 1,000, and charges a non-refundable set-up fee of EUR 6,000. The set-up consists of internal configuration tasks that transfer no good or service to the customer. The contract may then be renewed each year at the same monthly fee, without any new set-up fee; Nuvola has concluded (professional judgement) that this renewal option provides the customer with a material right. How does Nuvola account for the set-up fee?","es":""},"explanation":{"fr":"","en":"The configuration tasks transfer nothing to the customer: the set-up fee is an advance payment for future hosting services, recognised as revenue when those services are provided. Because the renewal option provides a material right (a judgement conclusion given by the case), the recognition period extends beyond the initial 24-month term (IFRS 15, para. B49). The analysis of a separate performance obligation only concerns fees relating to a good or service transferred (IFRS 15, para. B50), which is not the case here.","es":""},"common_error":{"fr":"","en":"Recognising set-up fees as revenue on invoicing.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As revenue on invoicing, since the fee is non-refundable.","es":""},"correct":false,"feedback":{"fr":"","en":"No service is transferred on invoicing: being non-refundable does not allow revenue to be recognised.","es":""}},{"id":"B","text":{"fr":"","en":"As revenue over the 24 months of the initial term, without further consideration.","es":""},"correct":false,"feedback":{"fr":"","en":"This answer ignores the material right provided by the renewal option, which extends the recognition period.","es":""}},{"id":"C","text":{"fr":"","en":"As an advance payment for future hosting, recognised as revenue as the services are provided, over a period beyond the 24 months.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As the price of a distinct set-up performance obligation, satisfied when Nuvola's teams complete the internal technical configuration.","es":""},"correct":false,"feedback":{"fr":"","en":"The internal configuration transfers no service to the customer: it is not a performance obligation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000355","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000355","tested_point":"QST.IFRS15.000355","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B62","IFRS 15 §B56"],"exercise":{"prompt":{"fr":"","en":"Mélodia grants a hotel chain a distinct licence over its music catalogue, limited to France, to a three-year term and to playback in common areas. True or false: these restrictions of time, geographical region and use are not taken into account in determining whether the licence provides a right to access or a right to use.","es":""},"explanation":{"fr":"","en":"For a distinct licence, the entity determines whether its promise is a right to access or a right to use (IFRS 15, para. B56). Restrictions of time, geographical region or use define the attributes of the promised licence and are disregarded in that classification (IFRS 15, para. B62).","es":""},"common_error":{"fr":"","en":"Concluding that there is a right to use only because the licence is limited in time or space.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000356","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000356","tested_point":"QST.IFRS15.000356","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B62","IFRS 15 §B58"],"exercise":{"prompt":{"fr":"","en":"Brevalis grants a distinct licence to use a process patent; it guarantees to the licensee that the patent is valid and undertakes to defend it against infringement. True or false: this commitment to defend the patent is enough to make the licence a right to access, with revenue recognised over time.","es":""},"explanation":{"fr":"","en":"A guarantee that a patent is valid and a commitment to defend it are not a performance obligation and are disregarded in classifying the licence (IFRS 15, para. B62). Classification as a right to access requires the three criteria relating to the entity's activities to be met (IFRS 15, para. B58); defending the patent is not enough to establish them.","es":""},"common_error":{"fr":"","en":"Treating the commitment to defend a patent as an activity that significantly affects the intellectual property.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000357","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000357","tested_point":"QST.IFRS15.000357","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B56","IFRS 15 §B59A","IFRS 15 §B61"],"exercise":{"prompt":{"fr":"","en":"Codexa grants a customer a distinct three-year licence over design software with significant stand-alone functionality, for a fixed price of EUR 360,000. Codexa has planned no updates and the customer expects no activities from it on the software (case data). The contract is signed on 15 December 20X1, the code is delivered on 20 December 20X1 and the licence period starts on 1 January 20X2. When does Codexa recognise the revenue of EUR 360,000?","es":""},"explanation":{"fr":"","en":"As the licence is distinct, Codexa determines the nature of its promise (IFRS 15, para. B56). The software has significant stand-alone functionality and no activity changes it: the intellectual property is not significantly affected by Codexa (IFRS 15, para. B59A). The licence is therefore a right to use, satisfied at a point in time, but no revenue can be recognised before the beginning of the period during which the customer is able to use and benefit from the licence, i.e. 1 January 20X2 (IFRS 15, para. B61).","es":""},"common_error":{"fr":"","en":"Recognising revenue for a right to use on delivery of the code, before the licence period begins.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Over time across the three years of the licence period, as the software is used.","es":""},"correct":false,"feedback":{"fr":"","en":"With no Codexa activity affecting the software, the licence is a right to use, not a right to access recognised over time.","es":""}},{"id":"B","text":{"fr":"","en":"On 15 December 20X1, when the contract is signed.","es":""},"correct":false,"feedback":{"fr":"","en":"Signature transfers nothing: the customer cannot use the licence yet.","es":""}},{"id":"C","text":{"fr":"","en":"On 1 January 20X2, at the beginning of the period during which the customer can use the licence.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"On 20 December 20X1, since the customer holds the code from that date and delivery of the code is enough to transfer the right to use.","es":""},"correct":false,"feedback":{"fr":"","en":"Holding the code is not enough: revenue cannot precede the beginning of the period during which the customer can use the licence.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000358","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000358","tested_point":"QST.IFRS15.000358","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B58","IFRS 15 §B59A","IFRS 15 §B60","IFRS 15 §B62"],"exercise":{"prompt":{"fr":"","en":"Fournil d'Or, a bakery chain, grants a franchisee the right to operate under its brand for five years and in a single region, in exchange for a fixed initial fee. As it customarily does, Fournil d'Or will continue to run advertising campaigns, develop its recipes and manage the brand image. The value of the brand to the franchisee substantially depends on these activities, which directly expose it to their effects without transferring any good or service to it (case data). The licence is distinct. How is the initial fee recognised?","es":""},"explanation":{"fr":"","en":"The three right-to-access criteria are met: the franchisee can reasonably expect activities that significantly affect the brand, it is directly exposed to their effects and those activities do not transfer a good or service to it (IFRS 15, para. B58). The effect is significant because the franchisee's ability to benefit from a brand substantially depends on those activities (IFRS 15, para. B59A). The licence is therefore satisfied over time, using an appropriate measure of progress (IFRS 15, para. B60). Restrictions of time and region do not change this classification (IFRS 15, para. B62).","es":""},"common_error":{"fr":"","en":"Recognising a franchise initial fee on grant although the licence is a right to access.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"In full on grant, as a right to use the brand as it exists at that date.","es":""},"correct":false,"feedback":{"fr":"","en":"Fournil d'Or's ongoing activities affect the brand: this is a right to access, not a right to use.","es":""}},{"id":"B","text":{"fr":"","en":"Over time over the term of the franchise, as a right to access, using an appropriate measure of progress.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"In full on grant, because limiting the franchise to five years and a single region shows that the franchisee only obtains the brand as it exists at the grant date.","es":""},"correct":false,"feedback":{"fr":"","en":"Restrictions of time and territory are attributes of the licence; they do not determine its nature.","es":""}},{"id":"D","text":{"fr":"","en":"When the franchise expires, once all of Fournil d'Or's activities have been performed.","es":""},"correct":false,"feedback":{"fr":"","en":"The franchisee benefits from access throughout the period: revenue does not wait for the end of the contract.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000359","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000359","tested_point":"QST.IFRS15.000359","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B58","IFRS 15 §B62"],"exercise":{"prompt":{"fr":"","en":"Ludivers grants a distinct licence over a video game character. To conclude that its promise is to provide a right to access the intellectual property, which conditions must be met?","es":""},"explanation":{"fr":"","en":"The promise is to provide a right to access when three criteria are all met: activities of the entity that significantly affect the intellectual property (required or reasonably expected), direct exposure of the customer to their effects, and no transfer of a good or service as a result of those activities (IFRS 15, para. B58). Territorial exclusivity and the term are attributes of the licence, with no bearing on its nature (IFRS 15, para. B62).","es":""},"common_error":{"fr":"","en":"Basing the classification of the licence on its term or territory.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The contract requires, or the customer reasonably expects, that Ludivers will undertake activities that significantly affect the character.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"The licence is exclusive in a specified territory.","es":""},"correct":false,"feedback":{"fr":"","en":"A territorial restriction or exclusivity is an attribute of the licence, not a right-to-access criterion.","es":""}},{"id":"C","text":{"fr":"","en":"The rights granted directly expose the customer to any positive or negative effects of those activities.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The licence term exceeds one year.","es":""},"correct":false,"feedback":{"fr":"","en":"The term is an attribute of the licence; it does not determine its nature.","es":""}},{"id":"E","text":{"fr":"","en":"Those activities do not, in themselves, result in the transfer of a good or service to the customer.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000360","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000360","tested_point":"QST.IFRS15.000360","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B53","IFRS 15 §B54"],"exercise":{"prompt":{"fr":"","en":"Thermio sells connected thermostats. Each device embeds firmware that Thermio licenses to the customer; without this firmware, the thermostat performs no function, and the customer can only benefit from the licence through the device (case data). How does Thermio identify the performance obligations?","es":""},"explanation":{"fr":"","en":"When a licence is promised together with other goods or services, the entity identifies the performance obligations in accordance with paragraphs 22 to 30 (IFRS 15, para. B53). A licence that is integral to the functionality of a tangible good is not distinct: it is accounted for together with that good as a single performance obligation (IFRS 15, para. B54).","es":""},"common_error":{"fr":"","en":"Systematically separating a licence embedded in a tangible good.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The licence is a distinct performance obligation, a right to use recognised when the device is handed over.","es":""},"correct":false,"feedback":{"fr":"","en":"The licence is not distinct from the device: the question of its nature does not arise on its own.","es":""}},{"id":"B","text":{"fr":"","en":"The licence and the thermostat form a single performance obligation, the licence being integral to the device.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The licence is a distinct performance obligation, a right to access recognised over time.","es":""},"correct":false,"feedback":{"fr":"","en":"The right-to-access classification only applies to a distinct licence, which is not the case here.","es":""}},{"id":"D","text":{"fr":"","en":"Because the licence agreement is a legal document separate from the purchase order, the licence is necessarily a performance obligation distinct from the thermostat.","es":""},"correct":false,"feedback":{"fr":"","en":"Legal form is not enough: what matters is the analysis of whether the licence is distinct.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000361","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000803","tested_point":"VG.IFRS15.000803","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B63","IFRS 15 §B63A"],"exercise":{"prompt":{"fr":"","en":"On 1 January 20X1, the publisher Mirabelle grants a foreign publisher a licence to translate and publish a novel, analysed as a right to use transferred at that date (conclusion given by the case). In return, the foreign publisher only pays a royalty of {royalty_rate} of its sales of the novel. Its 20X1 sales amount to {sales_20x1} and it forecasts sales of {forecast_sales_20x2} in 20X2. Calculate the royalty revenue recognised by Mirabelle in 20X1.","es":""},"explanation":{"fr":"","en":"The royalty relates only to a licence of intellectual property: the sales-based royalty exception applies (IFRS 15, para. B63A). Revenue is recognised at the later of the sale and the satisfaction of the performance obligation; as the licence was transferred at the start of 20X1, revenue follows the licensee's sales: 8% × 525,000 = 42,000 (IFRS 15, para. B63). Forecast sales for 20X2 are not anticipated.","es":""},"common_error":{"fr":"","en":"Estimating and recognising in advance royalties on the sales forecast for 20X2.","es":""},"format":"CALCULATION","placeholders":[{"id":"royalty_rate","value":"8","unit":"PERCENT"},{"id":"sales_20x1","value":"525000","unit":"EUR"},{"id":"forecast_sales_20x2","value":"900000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Sales-based royalty rate","es":""},"value":"8","unit":"PERCENT"},{"label":{"fr":"","en":"Sales of the novel by the licensee in 20X1","es":""},"value":"525000","unit":"EUR"},{"label":{"fr":"","en":"Sales forecast for 20X2","es":""},"value":"900000","unit":"EUR"}],"steps":[{"id":"ROYALTY_REVENUE_20X1","label":{"fr":"","en":"Royalty revenue for 20X1","es":""},"answer":42000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ROYALTY_REVENUE_20X1","meaning":{"fr":"","en":"Royalty revenue for 20X1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sales-based royalty rate","es":""},"value":8,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Sales of the novel by the licensee in 20X1","es":""},"value":525000,"unit":"EUR"}],"result":42000,"unit":"EUR","rationale":{"fr":"","en":"as the licence was transferred at the start of 20X1, revenue follows the licensee's sales: 8% × 525,000 = 42,000 (IFRS 15, para. B63).","es":""}}],"references":["REF.IFRS15.B63","REF.IFRS15.B63A"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000362","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000803","tested_point":"VG.IFRS15.000803","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B63","IFRS 15 §B63A"],"exercise":{"prompt":{"fr":"","en":"The Kerval studio grants a download platform a four-year licence over its catalogue of recordings, transferred at the start of 20X1 and analysed as a right to use (conclusion given by the case). The platform's only consideration is {fee_per_download} per track downloaded by its subscribers. In 20X1, {downloads_20x1} downloads took place; the platform estimates the total number of downloads over the four years at {expected_downloads_total}. What revenue does Kerval recognise in 20X1?","es":""},"explanation":{"fr":"","en":"The usage-based royalty relates only to a licence of intellectual property (IFRS 15, para. B63A): it is recognised at the later of the usage and the satisfaction of the performance obligation. As the licence was transferred at the start of 20X1, only the usage of the year counts: 1.25 × 36,800 = 46,000 (IFRS 15, para. B63). The estimate of downloads in later years is not recognised in advance.","es":""},"common_error":{"fr":"","en":"Spreading the estimated amount of all downloads over four years.","es":""},"format":"CALCULATION","placeholders":[{"id":"fee_per_download","value":"1.25","unit":"EUR"},{"id":"downloads_20x1","value":"36800","unit":"UNITS"},{"id":"expected_downloads_total","value":"150000","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Royalty per download","es":""},"value":"1.25","unit":"EUR"},{"label":{"fr":"","en":"Downloads in 20X1","es":""},"value":"36800","unit":"UNITS"},{"label":{"fr":"","en":"Downloads estimated over the licence term","es":""},"value":"150000","unit":"UNITS"}],"steps":[{"id":"USAGE_ROYALTY_REVENUE_20X1","label":{"fr":"","en":"Royalty revenue for 20X1","es":""},"answer":46000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"USAGE_ROYALTY_REVENUE_20X1","meaning":{"fr":"","en":"Royalty revenue for 20X1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Royalty per download","es":""},"value":1.25,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Downloads in 20X1","es":""},"value":36800,"unit":"UNITS"}],"result":46000,"unit":"EUR","rationale":{"fr":"","en":"As the licence was transferred at the start of 20X1, only the usage of the year counts: 1.25 × 36,800 = 46,000 (IFRS 15, para. B63).","es":""}}],"references":["REF.IFRS15.B63","REF.IFRS15.B63A"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000363","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000804","tested_point":"VG.IFRS15.000804","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B61","IFRS 15 §B63"],"exercise":{"prompt":{"fr":"","en":"The Solvane laboratory grants a manufacturer a five-year licence over a formulation patent, analysed as a right to use (conclusion given by the case). The licence period starts on 1 March 20X1, the date from which the manufacturer can exploit the patent. The consideration comprises a fixed amount of {fixed_fee}, payable on signature, and a royalty of {royalty_rate} of the sales of products manufactured under the licence. The manufacturer's sales reach {sales_20x1} in 20X1 and are estimated at {expected_sales_later} over the following years. Determine the royalty revenue and the total revenue recognised by Solvane in 20X1.","es":""},"explanation":{"fr":"","en":"The right to use is transferred at a point in time, and not before the beginning of the period of use: the fixed amount of 200,000 is recognised on 1 March 20X1 (IFRS 15, para. B61). The sales-based royalty is recognised at the later of the sale and the satisfaction of the performance obligation, here as the sales occur: 3% × 600,000 = 18,000 (IFRS 15, para. B63). Total 20X1 revenue: 200,000 + 18,000 = 218,000; the estimated sales of the following years are not anticipated.","es":""},"common_error":{"fr":"","en":"Including in 20X1 revenue the royalties on the estimated sales of later years.","es":""},"format":"CALCULATION","placeholders":[{"id":"fixed_fee","value":"200000","unit":"EUR"},{"id":"royalty_rate","value":"3","unit":"PERCENT"},{"id":"sales_20x1","value":"600000","unit":"EUR"},{"id":"expected_sales_later","value":"4000000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Fixed licence amount","es":""},"value":"200000","unit":"EUR"},{"label":{"fr":"","en":"Sales-based royalty rate","es":""},"value":"3","unit":"PERCENT"},{"label":{"fr":"","en":"Manufacturer's sales in 20X1","es":""},"value":"600000","unit":"EUR"},{"label":{"fr":"","en":"Estimated sales of the following years","es":""},"value":"4000000","unit":"EUR"}],"steps":[{"id":"ROYALTY_REVENUE_20X1","label":{"fr":"","en":"Royalty revenue for 20X1","es":""},"answer":18000,"tolerance":0,"unit":"EUR"},{"id":"TOTAL_REVENUE_20X1","label":{"fr":"","en":"Total revenue for 20X1","es":""},"answer":218000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ROYALTY_REVENUE_20X1","meaning":{"fr":"","en":"Royalty revenue for 20X1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sales-based royalty rate","es":""},"value":3,"unit":"PERCENT"},{"symbol":"b","meaning":{"fr":"","en":"Manufacturer's sales in 20X1","es":""},"value":600000,"unit":"EUR"}],"result":18000,"unit":"EUR","rationale":{"fr":"","en":"The sales-based royalty is recognised at the later of the sale and the satisfaction of the performance obligation, here as the sales occur: 3% × 600,000 = 18,000 (IFRS 15, para. B63).","es":""}},{"step":"TOTAL_REVENUE_20X1","meaning":{"fr":"","en":"Total revenue for 20X1","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Fixed licence amount","es":""},"value":200000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Royalty revenue for 20X1","es":""},"value":18000,"unit":"EUR"}],"result":218000,"unit":"EUR"}],"references":["REF.IFRS15.B61","REF.IFRS15.B63"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000364","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000804","tested_point":"VG.IFRS15.000804","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B61","IFRS 15 §B63"],"exercise":{"prompt":{"fr":"","en":"Ludocraft grants a games studio a licence to exploit its graphics engine, analysed as a right to use (conclusion given by the case); the engine is made available to the studio on 1 July 20X1, the start of the licence period. The studio pays a flat fee of {fixed_fee} and {fee_per_copy} for each copy sold of a game developed with the engine. It sells {copies_20x1} copies in the second half of 20X1 and projects {projected_copies_20x2} for 20X2. Calculate the royalty portion and Ludocraft's total revenue for 20X1.","es":""},"explanation":{"fr":"","en":"The flat fee of 50,000 is consideration for a right to use, recognised when the studio can use the engine, i.e. on 1 July 20X1 (IFRS 15, para. B61). The per-copy royalty is sales-based and recognised at the later of the sale and the satisfaction of the performance obligation, hence as the sales occur: 0.75 × 40,000 = 30,000 (IFRS 15, para. B63). Total revenue: 50,000 + 30,000 = 80,000; the copies projected for 20X2 are not taken into account.","es":""},"common_error":{"fr":"","en":"Adding to 20X1 revenue the royalties on the copies projected for 20X2.","es":""},"format":"CALCULATION","placeholders":[{"id":"fixed_fee","value":"50000","unit":"EUR"},{"id":"fee_per_copy","value":"0.75","unit":"EUR"},{"id":"copies_20x1","value":"40000","unit":"UNITS"},{"id":"projected_copies_20x2","value":"100000","unit":"UNITS"}],"data":[{"label":{"fr":"","en":"Flat licence fee","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Royalty per copy sold","es":""},"value":"0.75","unit":"EUR"},{"label":{"fr":"","en":"Copies sold in 20X1","es":""},"value":"40000","unit":"UNITS"},{"label":{"fr":"","en":"Copies projected for 20X2","es":""},"value":"100000","unit":"UNITS"}],"steps":[{"id":"ROYALTY_REVENUE_20X1","label":{"fr":"","en":"Royalty revenue for 20X1","es":""},"answer":30000,"tolerance":0,"unit":"EUR"},{"id":"TOTAL_REVENUE_20X1","label":{"fr":"","en":"Total revenue for 20X1","es":""},"answer":80000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ROYALTY_REVENUE_20X1","meaning":{"fr":"","en":"Royalty revenue for 20X1","es":""},"expression":"a * b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Royalty per copy sold","es":""},"value":0.75,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Copies sold in 20X1","es":""},"value":40000,"unit":"UNITS"}],"result":30000,"unit":"EUR","rationale":{"fr":"","en":"The per-copy royalty is sales-based and recognised at the later of the sale and the satisfaction of the performance obligation, hence as the sales occur: 0.75 × 40,000 = 30,000 (IFRS 15, para. B63).","es":""}},{"step":"TOTAL_REVENUE_20X1","meaning":{"fr":"","en":"Total revenue for 20X1","es":""},"expression":"a + b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Flat licence fee","es":""},"value":50000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Royalty revenue for 20X1","es":""},"value":30000,"unit":"EUR"}],"result":80000,"unit":"EUR"}],"references":["REF.IFRS15.B61","REF.IFRS15.B63"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000365","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000365","tested_point":"QST.IFRS15.000365","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":160,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B63","IFRS 15 §B63A","IFRS 15 §B63B"],"exercise":{"prompt":{"fr":"","en":"The Aquilon studio grants a toy manufacturer a distinct licence over the characters of its animated series and also provides it with graphic designs for its packaging. The only consideration is a royalty of 6% of toy sales, which pays for both the licence and the designs. Aquilon reasonably expects the manufacturer to ascribe significantly more value to the licence than to the designs (case data). How does Aquilon account for the royalty?","es":""},"explanation":{"fr":"","en":"The royalty exception applies when the licence is the predominant item to which the royalty relates, in particular when the customer ascribes significantly more value to the licence than to the other items (IFRS 15, para. B63A). In that case, the whole royalty is recognised under the exception, without any split (IFRS 15, para. B63B): revenue is recognised at the later of the sale of the toys and the satisfaction (or partial satisfaction) of the performance obligation to which the royalty has been allocated (IFRS 15, para. B63).","es":""},"common_error":{"fr":"","en":"Splitting a royalty between a portion under the exception and an estimated portion.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It estimates at signature the royalties for the whole contract term, subject to the constraint on variable consideration, and recognises the amount retained over the contract.","es":""},"correct":false,"feedback":{"fr":"","en":"Estimating in advance belongs to the general requirements, which do not apply here since the licence is predominant.","es":""}},{"id":"B","text":{"fr":"","en":"It applies the exception to the portion of the royalty relating to the licence and the general variable consideration requirements to the portion relating to the designs.","es":""},"correct":false,"feedback":{"fr":"","en":"When the licence is predominant, the exception applies to the whole royalty, without any split.","es":""}},{"id":"C","text":{"fr":"","en":"It applies the exception to the whole royalty: revenue at the later of the toy sales and the satisfaction of the related performance obligation.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It recognises no revenue before the end of the contract, when the total royalties are known.","es":""},"correct":false,"feedback":{"fr":"","en":"Revenue follows the toy sales as they occur; it does not wait for the end of the contract.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000366","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000366","tested_point":"QST.IFRS15.000366","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B63A","IFRS 15 §B63B"],"exercise":{"prompt":{"fr":"","en":"Mécanova sells packaging lines to a manufacturer and, as an ancillary item, grants it a licence to use a calibration patent. The consideration is an amount per unit packaged on the lines, which pays for both the machines and the licence. Mécanova reasonably expects the customer to ascribe significantly more value to the machines than to the licence (case data). Which requirements apply to this usage-based consideration?","es":""},"explanation":{"fr":"","en":"The royalty exception only applies if the royalty relates solely to a licence or if the licence is its predominant item (IFRS 15, para. B63A). Here, the customer ascribes significantly more value to the machines: the condition is not met, and the general variable consideration requirements (paras 50 to 59) apply to the whole consideration, without any split (IFRS 15, para. B63B).","es":""},"common_error":{"fr":"","en":"Applying the royalty exception as soon as a licence is included in the contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The royalty exception, applied to the whole consideration, recognised as the customer uses the lines.","es":""},"correct":false,"feedback":{"fr":"","en":"The exception requires the licence to be the predominant item; here the machines are.","es":""}},{"id":"B","text":{"fr":"","en":"A split: the royalty exception for the portion relating to the licence, the general requirements for the portion relating to the machines.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides for no split: depending on the case, the exception or the general requirements apply to the whole royalty.","es":""}},{"id":"C","text":{"fr":"","en":"The general variable consideration requirements (paras 50 to 59), applied to the whole consideration.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"No recognition of the consideration until the customer has paid it.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment is not the revenue recognition criterion; the variable consideration is analysed under the general requirements.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000368","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.LICENSING"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000368","tested_point":"QST.IFRS15.000368","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000018","section_id":"distinct-or-not"},"references":["IFRS 15 §B54","IFRS 15 §B55","IFRS 15 §B56"],"exercise":{"prompt":{"fr":"","en":"Optima grants a distributor a three-year licence over data analysis software. The software only works while connected to Optima's hosted platform, which continuously feeds it with data; the customer can therefore only benefit from the licence together with this online access service, which only Optima provides (case data). How does Optima analyse the contract?","es":""},"explanation":{"fr":"","en":"A licence from which the customer can benefit only together with a related service, such as online access enabling use of the content, is not distinct: the licence and the service form a single performance obligation (IFRS 15, para. B54). Optima then assesses whether this combined performance obligation is satisfied over time or at a point in time in accordance with paragraphs 31 to 38 and, if over time, selects a measure of progress in accordance with paragraphs 39 to 45 (IFRS 15, para. B55). The distinction between a right to access and a right to use only concerns distinct licences (IFRS 15, para. B56).","es":""},"common_error":{"fr":"","en":"Classifying on its own as a right to use a licence that is not distinct from a hosting service.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The licence is distinct and is a right to use, recognised when the software is made available, the hosting being recognised separately over time.","es":""},"correct":false,"feedback":{"fr":"","en":"The licence is not distinct: it cannot be accounted for on its own as a right to use.","es":""}},{"id":"B","text":{"fr":"","en":"It applies the right-to-access criteria to the licence on its own to determine the pattern of revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The right-to-access criteria only apply to a distinct licence; here, the analysis concerns the combined performance obligation.","es":""}},{"id":"C","text":{"fr":"","en":"The licence and the online access form a single performance obligation, for which Optima assesses whether it is satisfied over time or at a point in time.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The licence and the hosting are two performance obligations, since the contract mentions them separately.","es":""},"correct":false,"feedback":{"fr":"","en":"Presenting the items separately in the contract does not make them distinct.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000369","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000369","tested_point":"QST.IFRS15.000369","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B66","IFRS 15 §B67"],"exercise":{"prompt":{"fr":"","en":"Agrimat sells a combine harvester to a farmer for EUR 300,000 and retains the right to repurchase it in two years for EUR 220,000; the transaction is not part of a sale and leaseback. True or false: Agrimat does not recognise a sale, and the arrangement is accounted for as a lease in accordance with IFRS 16, because the repurchase price is lower than the original selling price.","es":""},"explanation":{"fr":"","en":"When the entity has a call option (or a forward obligation), the arrangement is accounted for as a lease in accordance with IFRS 16 if the repurchase price is lower than the original selling price, unless it is part of a sale and leaseback, and as a financing arrangement if the repurchase price is equal to or higher than that price (IFRS 15, para. B66). The comparison takes the time value of money into account (IFRS 15, para. B67). Here, 220,000 is lower than 300,000: a lease.","es":""},"common_error":{"fr":"","en":"Recognising a sale although the seller can repurchase the asset.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000370","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000370","tested_point":"QST.IFRS15.000370","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B66","IFRS 15 §B68"],"exercise":{"prompt":{"fr":"","en":"Vinéa sells a stock of ageing brandies to a spirits merchant for EUR 1,000,000 and undertakes to repurchase it in two years for EUR 1,100,000. Case data: even after taking into account the time value of money, the repurchase price exceeds the original selling price. True or false: Vinéa recognises revenue of EUR 1,000,000 when the casks are transferred to the merchant.","es":""},"explanation":{"fr":"","en":"An obligation to repurchase (forward) at a price higher than the original selling price (comparison given by the case) means that the arrangement is accounted for as a financing arrangement (IFRS 15, para. B66). Vinéa continues to recognise the inventory, recognises a financial liability for the 1,000,000 received and treats the 100,000 difference with the repurchase price as interest (IFRS 15, para. B68). No revenue is recognised.","es":""},"common_error":{"fr":"","en":"Recognising a sale when the entity is obliged to repurchase the asset at a price at least equal to the original selling price.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000371","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000371","tested_point":"QST.IFRS15.000371","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B66","IFRS 15 §B68"],"exercise":{"prompt":{"fr":"","en":"The Navalis shipyard sells a workboat to a shipowner for EUR 2,000,000 and holds an option allowing it to repurchase the boat in one year for EUR 2,100,000. Case data: even after taking into account the time value of money, the repurchase price exceeds the original selling price. How does Navalis reflect the transaction at the date of sale?","es":""},"explanation":{"fr":"","en":"A call option held by the entity at a price equal to or higher than the original selling price (comparison given by the case) means that the arrangement is accounted for as a financing arrangement (IFRS 15, para. B66). Navalis therefore keeps the boat in assets, recognises a financial liability for the consideration received of 2,000,000 and recognises as interest the 100,000 difference between the consideration received and the repurchase price (IFRS 15, para. B68).","es":""},"common_error":{"fr":"","en":"Recognising a sale when the entity can repurchase the asset at a price at least equal to the selling price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revenue of 2,000,000 and derecognition of the boat, the option being merely a right that Navalis may choose not to exercise.","es":""},"correct":false,"feedback":{"fr":"","en":"With a call option of the entity at a price at least equal to the original selling price, the arrangement is a financing arrangement, not a sale.","es":""}},{"id":"B","text":{"fr":"","en":"Revenue of 2,000,000 and a refund liability of 2,100,000.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not a sale with a right of return: no revenue is recognised and the liability is a financial liability.","es":""}},{"id":"C","text":{"fr":"","en":"The boat stays in assets and a financial liability of 2,000,000 is recognised; the 100,000 difference is recognised as interest.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"A lease in accordance with IFRS 16, since Navalis can recover the boat.","es":""},"correct":false,"feedback":{"fr":"","en":"A lease applies where the repurchase price is lower than the original selling price, which the case data rules out here.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000372","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000372","tested_point":"QST.IFRS15.000372","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Grues Atlas sells a crane to a civil engineering company for EUR 800,000. The customer can require Atlas to repurchase the crane in three years for EUR 450,000, whereas the expected market value of the crane at that date is EUR 250,000; Atlas concludes (professional judgement) that the customer has a significant economic incentive to exercise its option. The transaction is not part of a sale and leaseback. How does Atlas account for the arrangement?","es":""},"explanation":{"fr":"","en":"When the entity must repurchase the asset at the customer's request at a price lower than the original selling price, it assesses at contract inception whether the customer has a significant economic incentive to exercise that right; if so, the customer is in substance paying for the right to use the asset for a period and the arrangement is a lease in accordance with IFRS 16 (IFRS 15, para. B70). A repurchase price of 450,000 significantly above the expected market value of 250,000 indicates such an incentive (IFRS 15, para. B71).","es":""},"common_error":{"fr":"","en":"Ignoring a customer's put option and recognising an outright sale.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a sale with a right of return, since the customer remains free not to exercise its option at maturity.","es":""},"correct":false,"feedback":{"fr":"","en":"A sale with a right of return only applies where there is no significant economic incentive; here, the case concludes that such an incentive exists.","es":""}},{"id":"B","text":{"fr":"","en":"As a lease in accordance with IFRS 16.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As a financing arrangement, with a financial liability and interest.","es":""},"correct":false,"feedback":{"fr":"","en":"The repurchase price (450,000) is lower than the original selling price (800,000): financing is not the conclusion here.","es":""}},{"id":"D","text":{"fr":"","en":"As an outright sale of 800,000 on delivery, the option belonging to the customer only.","es":""},"correct":false,"feedback":{"fr":"","en":"The put option cannot be ignored: here it leads to a lease.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000373","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000373","tested_point":"QST.IFRS15.000373","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Clinéquip sells 50 medical beds to a clinic for EUR 400,000. The clinic can ask Clinéquip to repurchase the beds in one year for EUR 120,000; the expected market value of the beds at that date is EUR 180,000 and Clinéquip concludes (professional judgement) that the clinic has no significant economic incentive to exercise its option. How is the arrangement accounted for?","es":""},"explanation":{"fr":"","en":"For a customer's put option at a price lower than the original selling price, the entity assesses whether there is a significant economic incentive to exercise it (IFRS 15, para. B70). Without such an incentive, the arrangement is accounted for as the sale of a product with a right of return (IFRS 15, para. B72). Here, the repurchase price of 120,000 is lower than the expected market value of 180,000, and the case concludes that there is no significant incentive.","es":""},"common_error":{"fr":"","en":"Treating every customer put option as a lease.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a lease in accordance with IFRS 16, since the repurchase price is lower than the original selling price.","es":""},"correct":false,"feedback":{"fr":"","en":"A lease requires a significant economic incentive to exercise the option, which is not the case here.","es":""}},{"id":"B","text":{"fr":"","en":"As a financing arrangement, with the beds remaining in Clinéquip's assets.","es":""},"correct":false,"feedback":{"fr":"","en":"Financing does not correspond to a put option whose price is lower than the original selling price.","es":""}},{"id":"C","text":{"fr":"","en":"As the sale of a product with a right of return.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"As an outright sale of 400,000, the clinic's option having no accounting effect.","es":""},"correct":false,"feedback":{"fr":"","en":"The clinic's option does have an effect: it is treated as a right of return.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000374","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000374","tested_point":"QST.IFRS15.000374","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B78","IFRS 15 §B77"],"exercise":{"prompt":{"fr":"","en":"Cristallerie Morvan delivers tableware sets to home decoration shops. Which of the following clauses are indicators of a consignment arrangement?","es":""},"explanation":{"fr":"","en":"Indicators of a consignment arrangement include the entity keeping control until a specified event, such as the sale to the dealer's customer, the entity's ability to require the return of the product or its transfer to a third party, and the dealer having no unconditional obligation to pay, even when a deposit is required (IFRS 15, para. B78). In that case, no revenue is recognised on delivery to the shop (IFRS 15, para. B77).","es":""},"common_error":{"fr":"","en":"Recognising a sale on delivery to the consignee.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The shop must pay for the items within thirty days of delivery, whether or not it has sold them.","es":""},"correct":false,"feedback":{"fr":"","en":"An obligation to pay regardless of resale is contrary to the indicator of no unconditional obligation to pay.","es":""}},{"id":"B","text":{"fr":"","en":"Morvan keeps control of the items until they are sold by the shop to its own customers.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Morvan can require the return of the items or their transfer to another shop.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The shop freely sets its resale prices and alone bears the risk of unsold items, with no possibility of return.","es":""},"correct":false,"feedback":{"fr":"","en":"These features rather show that the shop has obtained control of the items.","es":""}},{"id":"E","text":{"fr":"","en":"The shop has no unconditional obligation to pay for the items, even if it pays a security deposit.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000375","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000375","tested_point":"QST.IFRS15.000375","difficulty":"EXPERT","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B81","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Tôlerie Brivoise invoices a customer for electrical cabinets that it keeps in its warehouses until a later delivery. In addition to the general indicators of transfer of control, which criteria must all be met for the customer to obtain control of the cabinets in this bill-and-hold arrangement?","es":""},"explanation":{"fr":"","en":"In a bill-and-hold arrangement, the entity bills for the product while retaining physical possession until a later transfer (IFRS 15, para. B79). In addition to the general indicators, the customer obtains control only if four criteria are all met: a substantive reason for the arrangement, separate identification of the product as belonging to the customer, the product being ready for physical transfer, and the entity being unable to use it or direct it to another customer (IFRS 15, para. B81). Payment or insurance are not among these criteria.","es":""},"common_error":{"fr":"","en":"Considering collection of the invoice sufficient to recognise revenue.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The customer has paid the whole invoice before the reporting date.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment of the invoice is not one of the specific bill-and-hold criteria.","es":""}},{"id":"B","text":{"fr":"","en":"The arrangement has a substantive reason, for example a request from the customer.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The cabinets are identified separately as belonging to the customer.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The customer has taken out insurance covering the stored cabinets.","es":""},"correct":false,"feedback":{"fr":"","en":"Insurance taken out by the customer is not a bill-and-hold criterion.","es":""}},{"id":"E","text":{"fr":"","en":"The cabinets are ready for physical transfer to the customer.","es":""},"correct":true},{"id":"F","text":{"fr":"","en":"Tôlerie Brivoise cannot use the cabinets or direct them to another customer.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000376","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000376","tested_point":"QST.IFRS15.000376","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B69","IFRS 15 §B68"],"exercise":{"prompt":{"fr":"","en":"Orfèvra sold a collection of silverware to a museum while retaining an option to repurchase it at a price higher than the selling price; the arrangement was accounted for as a financing arrangement, with a financial liability. At maturity, Orfèvra lets its option lapse unexercised. What does it do?","es":""},"explanation":{"fr":"","en":"When the repurchase agreement was treated as a financing arrangement, the entity kept the asset and recognised a financial liability (IFRS 15, para. B68). If its repurchase option lapses unexercised, it derecognises that liability and recognises revenue (IFRS 15, para. B69).","es":""},"common_error":{"fr":"","en":"Keeping a financial liability indefinitely after the repurchase option has lapsed.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It keeps the financial liability until it is repaid to the museum, since the consideration was collected.","es":""},"correct":false,"feedback":{"fr":"","en":"The museum has no right to repayment: the lapse of the option extinguishes the liability.","es":""}},{"id":"B","text":{"fr":"","en":"It derecognises the liability and recognises revenue.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It transfers the liability to equity, with no effect on profit or loss.","es":""},"correct":false,"feedback":{"fr":"","en":"The consideration comes from a customer: it is recognised as revenue, not in equity.","es":""}},{"id":"D","text":{"fr":"","en":"It retrospectively reverses the interest recognised over the option period, with no other entry.","es":""},"correct":false,"feedback":{"fr":"","en":"The interest recognised is not reversed; it is the liability that is derecognised against revenue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000377","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000377","tested_point":"QST.IFRS15.000377","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B77","IFRS 15 §B78"],"exercise":{"prompt":{"fr":"","en":"Ventoux Cycles delivers 40 electric bikes to an independent retailer. The retailer only pays for a bike after selling it to an end customer; Ventoux can at any time recall unsold bikes to send them to another shop, and the retailer can return unsold bikes after six months. The retailer pays a flat security deposit. How does Ventoux treat the delivery to the retailer?","es":""},"explanation":{"fr":"","en":"On delivery to a dealer, the entity assesses whether the dealer has obtained control; a product held on consignment gives rise to no revenue on delivery (IFRS 15, para. B77). Here, the consignment indicators are present: Ventoux keeps control until the sale to the end customer, can recall or reassign the bikes, and the retailer has no unconditional obligation to pay despite the deposit (IFRS 15, para. B78).","es":""},"common_error":{"fr":"","en":"Recognising a sale on delivery to the consignee.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Revenue on the 40 bikes on delivery, since the retailer has the bikes in its shop and has paid a deposit.","es":""},"correct":false,"feedback":{"fr":"","en":"Having the bikes in the shop and paying a deposit do not transfer control: this is a consignment.","es":""}},{"id":"B","text":{"fr":"","en":"Revenue on delivery, reduced by a refund liability for expected returns.","es":""},"correct":false,"feedback":{"fr":"","en":"The retailer has not obtained control: this is not a sale with a right of return.","es":""}},{"id":"C","text":{"fr":"","en":"No revenue on delivery: the bikes remain Ventoux's until control transfers, for example on their sale to the end customer.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Revenue equal to the deposit received, the balance on sale to the end customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The deposit is not an unconditional payment: it triggers no revenue.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000378","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000378","tested_point":"QST.IFRS15.000378","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":160,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15","IFRS 15 §B81"],"exercise":{"prompt":{"fr":"","en":"Métallis manufactures ten stainless steel tanks for Hydra. At the request of Hydra, whose construction site is delayed, the completed tanks are kept for six months in Métallis's warehouse, which provides custody. The tanks bear Hydra's name, are stored separately, ready for shipment, and Métallis can neither use them nor deliver them to another customer. The price invoiced covers the tanks and their custody. How does Métallis account for the contract when the tanks are completed?","es":""},"explanation":{"fr":"","en":"A customer can obtain control of a product even though the entity retains physical possession of it (IFRS 15, para. B80). The four bill-and-hold criteria are met: Hydra's request, tanks identified as belonging to it, ready for shipment, and Métallis unable to use them or direct them to another customer (IFRS 15, para. B81). Métallis therefore recognises revenue for the tanks and considers whether custody is a separate performance obligation to which part of the transaction price must be allocated (IFRS 15, para. B82).","es":""},"common_error":{"fr":"","en":"Deferring revenue until shipment although the bill-and-hold criteria are met.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It defers all revenue until the tanks are physically delivered to Hydra's site.","es":""},"correct":false,"feedback":{"fr":"","en":"The bill-and-hold criteria are met: control transfers even though the tanks are kept.","es":""}},{"id":"B","text":{"fr":"","en":"It immediately recognises the whole price invoiced as revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"This answer forgets the custody service, which may be a separate performance obligation.","es":""}},{"id":"C","text":{"fr":"","en":"It recognises revenue for the tanks and assesses whether custody is a separate performance obligation to which part of the price is allocated.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It recognises the whole price as revenue spread over the six months of custody, since the tanks have not left its warehouse.","es":""},"correct":false,"feedback":{"fr":"","en":"Control of the tanks transfers on completion; only the possible custody service is provided over the period.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000379","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000379","tested_point":"QST.IFRS15.000379","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15","IFRS 15 §B81"],"exercise":{"prompt":{"fr":"","en":"At the request of a hotel chain short of space, Textilia invoices it on 20 December 20X1 for a batch of 5,000 bathrobes, paid immediately, and keeps the batch in its warehouse until March 20X2. The bathrobes remain mixed with Textilia's general inventory, from which it allows itself to draw to fill urgent orders from other customers, replacing them before shipment. Can Textilia recognise the revenue in 20X1?","es":""},"explanation":{"fr":"","en":"In a bill-and-hold arrangement, the entity bills for the product but retains possession of it (IFRS 15, para. B79). The customer obtains control only if all the criteria are met, including separate identification of the product as belonging to the customer and the entity's inability to use it or direct it to another customer (IFRS 15, para. B81). These two criteria are not met: despite the substantive reason and the payment, no revenue is recognised in 20X1.","es":""},"common_error":{"fr":"","en":"Recognising revenue on invoicing because the customer requested and paid for it.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, because the arrangement responds to a customer request and therefore has a substantive reason.","es":""},"correct":false,"feedback":{"fr":"","en":"A substantive reason is only one of the criteria: they must all be met.","es":""}},{"id":"B","text":{"fr":"","en":"Yes, because the invoice has been paid in full by the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"Payment is not one of the criteria and does not transfer control.","es":""}},{"id":"C","text":{"fr":"","en":"Yes, for half of the price, the other half being deferred until shipment.","es":""},"correct":false,"feedback":{"fr":"","en":"The standard provides for no partial recognition: control of the bathrobes has not transferred.","es":""}},{"id":"D","text":{"fr":"","en":"No: the bathrobes are not separately identified and Textilia can direct them to other customers.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000382","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000382","tested_point":"QST.IFRS15.000382","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"customer-acceptance"},"references":["IFRS 15 §B84","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Ferronord sells steel beams whose agreed specifications (dimensions and weight) are measured and documented before each shipment. The contract includes a customer acceptance clause. True or false: customer acceptance is here a formality that does not affect the timing of the transfer of control of the beams.","es":""},"explanation":{"fr":"","en":"An acceptance clause allows the customer to cancel the contract or require remedial action if the good does not conform; the entity considers it when determining when control transfers (IFRS 15, para. B83). When the entity can objectively determine that the agreed specifications are met, as with dimension and weight criteria that can be checked before shipment, acceptance is a formality that does not affect when control transfers (IFRS 15, para. B84).","es":""},"common_error":{"fr":"","en":"Systematically deferring revenue until formal acceptance although conformity can be objectively checked.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000383","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000383","tested_point":"QST.IFRS15.000383","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"customer-acceptance"},"references":["IFRS 15 §B86"],"exercise":{"prompt":{"fr":"","en":"Médilab delivers three analysers to a laboratory for a 60-day trial. The laboratory only commits to pay at the end of the trial, if it decides to keep the devices. When is control of the analysers transferred to the laboratory?","es":""},"explanation":{"fr":"","en":"When products are delivered for trial or evaluation and the customer has not committed to pay before the end of the trial period, control is only transferred when the customer accepts the products or when the trial period lapses (IFRS 15, para. B86).","es":""},"common_error":{"fr":"","en":"Recognising revenue on delivery of products supplied for trial.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On delivery of the analysers to the laboratory's premises, since it can use them for its tests from then on.","es":""},"correct":false,"feedback":{"fr":"","en":"Use during the trial is not enough: the laboratory has not yet committed to pay.","es":""}},{"id":"B","text":{"fr":"","en":"When Médilab issues the invoice, at the time of delivery.","es":""},"correct":false,"feedback":{"fr":"","en":"Invoicing does not transfer control of a product delivered for trial.","es":""}},{"id":"C","text":{"fr":"","en":"When the laboratory accepts the analysers or, at the latest, when the trial period expires.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"When the price is collected.","es":""},"correct":false,"feedback":{"fr":"","en":"Collection is not the criterion for the transfer of control.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000384","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000384","tested_point":"QST.IFRS15.000384","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"customer-acceptance"},"references":["IFRS 15 §B85","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"On 10 December 20X1, Robotec delivers a palletising robot designed for a customer. Contractual acceptance depends on reaching a rate of 600 pallets per hour under the actual conditions of the customer's plant, which cannot be replicated at Robotec before delivery. On-site tests are scheduled for January 20X2. When can Robotec conclude that control of the robot has transferred?","es":""},"explanation":{"fr":"","en":"An acceptance clause allows the customer to cancel the contract or require remedial action in case of non-conformity; the entity considers it when determining when control transfers (IFRS 15, para. B83). When the entity cannot objectively determine that the good meets the agreed specifications, it cannot conclude that control has transferred until the customer accepts it (IFRS 15, para. B85). Here, the rate can only be checked in the customer's plant.","es":""},"common_error":{"fr":"","en":"Treating as a formality an acceptance whose conformity can only be checked at the customer's premises.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"On 10 December 20X1, on delivery, acceptance being only a contractual formality of no real consequence.","es":""},"correct":false,"feedback":{"fr":"","en":"Conformity cannot be determined objectively before the tests: acceptance is not a formality.","es":""}},{"id":"B","text":{"fr":"","en":"Over time between delivery and the tests, as the robot is installed.","es":""},"correct":false,"feedback":{"fr":"","en":"The case concerns a delivered robot whose conformity remains to be shown, not a transfer over time.","es":""}},{"id":"C","text":{"fr":"","en":"Only after acceptance by the customer.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"On delivery, recognising a refund liability for the risk that the customer rejects the robot after the tests.","es":""},"correct":false,"feedback":{"fr":"","en":"This is not a right of return: as long as conformity is not established, control has not transferred.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000385","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_ACCEPTANCE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000385","tested_point":"QST.IFRS15.000385","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"customer-acceptance"},"references":["IFRS 15","IFRS 15 §B84","IFRS 15 §B85"],"exercise":{"prompt":{"fr":"","en":"The accounting department of Optilux, which sells standard light fittings and custom lighting installations, applies the following internal rule. True or false: as soon as a contract contains a customer acceptance clause, revenue can never be recognised before the acceptance certificate is signed.","es":""},"explanation":{"fr":"","en":"The entity considers the acceptance clause when determining when control transfers (IFRS 15, para. B83), but its effect depends on whether conformity can be determined objectively. If conformity with the agreed specifications can be determined objectively, acceptance is a formality that does not delay the transfer of control (IFRS 15, para. B84); only otherwise can the transfer of control be concluded only after acceptance (IFRS 15, para. B85). A systematic rule is therefore wrong.","es":""},"common_error":{"fr":"","en":"Systematically deferring revenue until formal acceptance although conformity can be objectively checked.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000386","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000386","tested_point":"QST.IFRS15.000386","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"Ravelin enters into a contract with Hôtels Brissac and another with a subsidiary of Hôtels Brissac on the same day. Since the two customers are different legal entities, these contracts can never be combined.","es":""},"explanation":{"fr":"","en":"Combination applies to contracts entered into at or near the same time with the same customer or with related parties of that customer (IFRS 15, para. 17). A subsidiary of the customer is a related party: the two contracts must therefore be assessed against the combination criteria. They are accounted for as a single contract if at least one criterion is met; the facts given do not allow a conclusion on that point.","es":""},"common_error":{"fr":"","en":"Limiting the combination analysis to contracts signed by the same legal entity.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000387","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000387","tested_point":"QST.IFRS15.000387","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"Ostrevent signs two separately negotiated contracts with the same customer a few days apart. The price of the second depends on the performance of the first. These contracts must be accounted for as a single contract, even though they were not negotiated as a package.","es":""},"explanation":{"fr":"","en":"Two contracts entered into near the same time with the same customer are combined as soon as at least one criterion is met: negotiation as a package with a single commercial objective, an amount in one contract depending on the price or performance of the other, or promised goods or services (or some of them in each contract) forming a single performance obligation (IFRS 15, para. 17). The second criterion is sufficient here.","es":""},"common_error":{"fr":"","en":"Requiring all three combination criteria to be met.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000388","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000388","tested_point":"QST.IFRS15.000388","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"On 5 June 20X1, Éolys signs a contract with Venterre to deliver turbines. On 12 June 20X1, it signs a separate maintenance contract with Venterre, whose fee is reduced by 20% if the delivered turbines do not reach the guaranteed output. Nothing indicates a joint negotiation. Which combination criterion is met?","es":""},"explanation":{"fr":"","en":"The two contracts are entered into near the same time with the same customer. The amount of the maintenance contract depends on the performance of the delivery contract: this criterion is enough to require combination into a single contract (IFRS 15, para. 17). The data say nothing about a joint negotiation or about a single performance obligation.","es":""},"common_error":{"fr":"","en":"Rejecting combination merely because the contracts were not signed on the same day.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The negotiation of the two contracts as a package with a single commercial objective.","es":""},"correct":false,"feedback":{"fr":"","en":"The question states that nothing indicates a joint negotiation.","es":""}},{"id":"B","text":{"fr":"","en":"The dependence of the amount of one contract on the performance of the other.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The fact that the turbines and maintenance form a single performance obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"The question gives no information on whether the goods and services are distinct.","es":""}},{"id":"D","text":{"fr":"","en":"None: one week separates the signatures, which rules out any combination.","es":""},"correct":false,"feedback":{"fr":"","en":"A one-week gap can reasonably be regarded as near the same time (judgement): the criteria must be assessed.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000389","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000389","tested_point":"QST.IFRS15.000389","difficulty":"INTERMEDIATE","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"Two contracts are entered into near the same time between Brocéliane and the same customer. Which of the following circumstances, each on its own, require them to be accounted for as a single contract?","es":""},"explanation":{"fr":"","en":"Contracts entered into at or near the same time with the same customer (or its related parties) are combined if at least one of the following criteria is met: negotiation as a package with a single commercial objective, an amount in one contract depending on the price or performance of the other, promised goods or services (or some of them in each contract) forming a single performance obligation (IFRS 15, para. 17). The same salesperson or the same general terms are not criteria.","es":""},"common_error":{"fr":"","en":"Accounting separately for two contracts negotiated as a package with a single commercial objective.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Both contracts were negotiated by the same Brocéliane salesperson.","es":""},"correct":false,"feedback":{"fr":"","en":"The identity of the negotiator is not a combination criterion.","es":""}},{"id":"B","text":{"fr":"","en":"Both contracts were negotiated as a package with a single commercial objective.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Both contracts refer to the same general terms and conditions of sale.","es":""},"correct":false,"feedback":{"fr":"","en":"Common general terms create no economic link between the contracts.","es":""}},{"id":"D","text":{"fr":"","en":"The price of the second contract was set on the basis of the price of the first.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"The goods and services promised in the two contracts form a single performance obligation.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000390","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000390","tested_point":"QST.IFRS15.000390","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"On 3 March 20X1, Corvalis signs a contract with Hôtels Brésine to supply furniture for 400,000. On 10 March 20X1, it signs a contract with Brésine Services, a subsidiary of Hôtels Brésine, to install that furniture for 50,000. The correspondence shows that the installation price was set well below its usual level because the furniture price had been accepted. Installation and furniture are distinct goods and services (case datum). How does Corvalis analyse these contracts?","es":""},"explanation":{"fr":"","en":"The two contracts are entered into near the same time with the customer and a related party of that customer (its subsidiary). The amount of the installation contract depends on the price of the furniture contract: this criterion alone requires the two contracts to be accounted for as a single contract (IFRS 15, para. 17). Whether the installation is distinct is then used to identify the performance obligations of the combined contract; it does not prevent combination.","es":""},"common_error":{"fr":"","en":"Accounting separately for two contracts whose prices are interdependent.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The contracts remain separate, since they are signed by two different legal entities of the Brésine group.","es":""},"correct":false,"feedback":{"fr":"","en":"A subsidiary of the customer is a related party: its contracts fall within the combination analysis.","es":""}},{"id":"B","text":{"fr":"","en":"They are combined: related party, near-simultaneous dates and installation price depending on the furniture price.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"They are combined only if, in addition, they were negotiated as a package and form a single performance obligation.","es":""},"correct":false,"feedback":{"fr":"","en":"The criteria are not cumulative: one is enough.","es":""}},{"id":"D","text":{"fr":"","en":"The contracts remain separate, since installation is a service distinct from the furniture.","es":""},"correct":false,"feedback":{"fr":"","en":"A service being distinct does not prevent combination when another criterion is met.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000391","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000391","tested_point":"QST.IFRS15.000391","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"In January 20X1, Lauragais signs a contract with the customer Bastide to maintain its boilers. Eighteen months later, in July 20X2, it signs with Bastide a contract to supply new burners, negotiated separately at the usual rates. The price of each contract is unrelated to the other, and the burners and maintenance do not form a single performance obligation. The sales director proposes to combine the two contracts because the customer is the same. Which analysis should be retained?","es":""},"explanation":{"fr":"","en":"Combination concerns contracts entered into at or near the same time with the same customer and requires at least one criterion to be met: negotiation as a package, interdependent price or performance, or a single performance obligation (IFRS 15, para. 17). Here, the contracts are 18 months apart (a gap that cannot reasonably be regarded as near the same time) and no criterion is met: each contract is accounted for separately.","es":""},"common_error":{"fr":"","en":"Combining all the contracts of the same customer without examining dates and criteria.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The contracts are combined, since they are entered into with the same customer.","es":""},"correct":false,"feedback":{"fr":"","en":"The identity of the customer is not enough: dates must be near and at least one criterion met.","es":""}},{"id":"B","text":{"fr":"","en":"The contracts are combined if Lauragais so chooses, combination being an accounting option.","es":""},"correct":false,"feedback":{"fr":"","en":"Combination is not an option: it is required when the conditions are met, and they are not met here.","es":""}},{"id":"C","text":{"fr":"","en":"The contracts are combined, since the burners will be fitted to the maintained boilers.","es":""},"correct":false,"feedback":{"fr":"","en":"The question states that the burners and maintenance do not form a single performance obligation and that the prices are independent.","es":""}},{"id":"D","text":{"fr":"","en":"The contracts are accounted for separately: distant dates and no combination criterion met.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000392","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000392","tested_point":"QST.IFRS15.000392","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":140,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"On the same day, Arnave signs two contracts with Pellegrue: the design of a specialised production line for 120,000 and its construction for 900,000. Each price corresponds to Arnave's usual rates. Arnave has concluded (documented judgement, case datum) that design and construction are so closely intertwined that they form a single performance obligation. How does it account for these contracts?","es":""},"explanation":{"fr":"","en":"Contracts entered into at the same time with the same customer are accounted for as a single contract if at least one criterion is met, in particular when the goods or services promised in those contracts form a single performance obligation (IFRS 15, para. 17). That criterion is met here; the fact that each price corresponds to the usual rates does not cancel it. The conclusion on the single obligation is a matter of Arnave's judgement.","es":""},"common_error":{"fr":"","en":"Believing that prices in line with the usual rates rule out any combination.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a single contract, since the promised goods and services form a single performance obligation.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"As two separate contracts, since each price corresponds to Arnave's usual rates.","es":""},"correct":false,"feedback":{"fr":"","en":"Prices in line with the rates do not rule out the single performance obligation criterion.","es":""}},{"id":"C","text":{"fr":"","en":"As a single contract only if it is also shown that the two contracts were negotiated as a package.","es":""},"correct":false,"feedback":{"fr":"","en":"The criteria are not cumulative: one is enough.","es":""}},{"id":"D","text":{"fr":"","en":"As two contracts, the design being recognised on completion of the drawings and the construction over time.","es":""},"correct":false,"feedback":{"fr":"","en":"This solution separates what Arnave has judged to be a single performance obligation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000393","standard_id":"IFRS15","concept_ids":["IFRS15.CONTRACT.COMBINATION"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000393","tested_point":"QST.IFRS15.000393","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":110,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000002","section_id":"combination"},"references":["IFRS 15 §17"],"exercise":{"prompt":{"fr":"","en":"On the same day, Mirepoix signs two contracts with the local authority Saint-Ybars, one to renovate a swimming pool, the other to landscape its surroundings. They were negotiated together to meet an overall budget and a single objective: reopening the site to the public. Mirepoix's management controller argues that the contracts are separate, since they are two separate documents, signed by different departments of the authority and invoiced separately. What do you think?","es":""},"explanation":{"fr":"","en":"Contracts entered into at the same time with the same customer are accounted for as a single contract as soon as they were negotiated as a package with a single commercial objective (IFRS 15, para. 17). The form of the documents, the signatories or the invoicing are irrelevant: this criterion is enough, without having to show in addition a price dependence or a single performance obligation.","es":""},"common_error":{"fr":"","en":"Accounting separately for two contracts negotiated as a package with a single commercial objective.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"He is right: two separate legal documents necessarily constitute two contracts.","es":""},"correct":false,"feedback":{"fr":"","en":"Legal form does not prevail: the joint negotiation is enough to require combination.","es":""}},{"id":"B","text":{"fr":"","en":"He is right as long as a price dependence between the two contracts has not been shown.","es":""},"correct":false,"feedback":{"fr":"","en":"The criteria are not cumulative: negotiation as a package is enough.","es":""}},{"id":"C","text":{"fr":"","en":"He is wrong: negotiation as a package with a single objective is enough to require combination.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"He is wrong, but combination remains an option that Mirepoix may decline for consistency with its invoicing.","es":""},"correct":false,"feedback":{"fr":"","en":"Combination is not optional when a criterion is met.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000394","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.VARIABLE_CONSIDERATION"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000394","tested_point":"QST.IFRS15.000394","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":80,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000004","section_id":"variable-forms"},"references":["IFRS 15 §52","IFRS 15 §50","IFRS 15 §53"],"exercise":{"prompt":{"fr":"","en":"Quercy Agri sells fertiliser to cooperatives at a contractual price of 80,000 per delivery. The contract provides for no reduction. For several years, however, Quercy Agri has accepted, when the harvest is poor, a payment lower than the agreed price, and this practice is known to its customers. How should the promised consideration be characterised?","es":""},"explanation":{"fr":"","en":"Variability of consideration may be implicit: it exists in particular when the customer can reasonably expect, because of the entity's customary business practices, that the entity will accept an amount lower than the contractual price, that is a price concession (IFRS 15, para. 52). Quercy Agri therefore estimates the amount to which it expects to be entitled (IFRS 15, para. 50). The selection of the estimation method (the one that better predicts the amount, IFRS 15, para. 53) and the assessment of the constraint are matters of its judgement.","es":""},"common_error":{"fr":"","en":"Looking for variable consideration only in the written clauses of the contract.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The consideration is fixed at 80,000, since the contract contains no reduction clause.","es":""},"correct":false,"feedback":{"fr":"","en":"Variability may be implicit: the absence of a clause is not enough to conclude that the price is fixed.","es":""}},{"id":"B","text":{"fr":"","en":"It is variable: the known practice creates an expectation of a price concession.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The consideration becomes variable only when Quercy Agri actually grants a reduction to a cooperative.","es":""},"correct":false,"feedback":{"fr":"","en":"The analysis is made at contract inception, in the light of the known customary practices.","es":""}},{"id":"D","text":{"fr":"","en":"The consideration is fixed; the practice relates only to the cooperatives' credit risk.","es":""},"correct":false,"feedback":{"fr":"","en":"Voluntarily accepting a lower amount is a price concession, not a payment default.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000395","standard_id":"IFRS15","concept_ids":["IFRS15.TRANSACTION_PRICE.FINANCING_COMPONENT"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000395","tested_point":"QST.IFRS15.000395","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":70,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000005","section_id":"principle"},"references":["IFRS 15 §63"],"exercise":{"prompt":{"fr":"","en":"Tarnos Pompes delivers industrial pumps to a customer. From contract inception, it expects to be paid 10 months after delivery, at a price slightly above the cash price. Must it adjust the promised consideration for the effects of a financing component?","es":""},"explanation":{"fr":"","en":"As a practical expedient, the entity need not adjust the promised consideration for the effects of a financing component if it expects, at contract inception, that the period between the transfer of the good or service and its payment will be one year or less (IFRS 15, para. 63). With an expected period of 10 months, Tarnos Pompes may apply this expedient: it is an option, not an obligation. If elected, it is applied consistently to similar contracts.","es":""},"common_error":{"fr":"","en":"Believing that the practical expedient is assessed afterwards on the period actually observed.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Yes, always, as soon as the agreed price exceeds the cash price.","es":""},"correct":false,"feedback":{"fr":"","en":"The practical expedient allows no adjustment when the expected period does not exceed one year.","es":""}},{"id":"B","text":{"fr":"","en":"No, it may elect not to: the period expected at inception does not exceed one year.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It may refrain from doing so only if the contract mentions no interest rate.","es":""},"correct":false,"feedback":{"fr":"","en":"The practical expedient rests on the expected period, not on whether an interest rate is mentioned.","es":""}},{"id":"D","text":{"fr":"","en":"It all depends on the period actually observed, whatever the expectations at inception.","es":""},"correct":false,"feedback":{"fr":"","en":"The criterion is assessed at contract inception, on the expected period between transfer and payment.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000396","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000396","tested_point":"QST.IFRS15.000396","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §85","IFRS 15 §86"],"exercise":{"prompt":{"fr":"","en":"Corbières Logiciels undertakes to develop a customised management module for the customer Vinéa and to train its users, two performance obligations. The fixed price is 260,000, plus a bonus of 20,000 if the module is delivered before 30 September 20X1. Corbières Logiciels has included the bonus in the transaction price after assessing the constraint (judgement, case datum). The bonus depends solely on the efforts devoted to the module, and allocating it entirely to the module depicts the amount to which Corbières Logiciels expects to be entitled for that module (documented analysis). How is the bonus allocated?","es":""},"explanation":{"fr":"","en":"A variable amount is allocated entirely to a performance obligation when its payment terms relate specifically to the entity's efforts to satisfy that obligation and that allocation is consistent with the allocation objective (IFRS 15, para. 85). Both conditions are met: the bonus is allocated to the module alone. The fixed price of 260,000 is allocated under the general requirements (IFRS 15, para. 86).","es":""},"common_error":{"fr":"","en":"Allocating proportionately a variable consideration that relates specifically to a single obligation.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is spread between the module and the training in proportion to their stand-alone selling prices, like the fixed price.","es":""},"correct":false,"feedback":{"fr":"","en":"Proportionate allocation does not apply when the two conditions for entire allocation are met.","es":""}},{"id":"B","text":{"fr":"","en":"It is allocated entirely to the module; the fixed price follows the general requirements.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is allocated entirely to the training, the last obligation to be satisfied.","es":""},"correct":false,"feedback":{"fr":"","en":"The bonus relates to the efforts devoted to the module, not to the training.","es":""}},{"id":"D","text":{"fr":"","en":"It is allocated to no obligation and is recognised only when received.","es":""},"correct":false,"feedback":{"fr":"","en":"The bonus is part of the transaction price (case datum): it must be allocated.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000397","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000397","tested_point":"QST.IFRS15.000397","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §88"],"exercise":{"prompt":{"fr":"","en":"When the transaction price increases after contract inception, the entity allocates the increase to the performance obligations on the basis of their stand-alone selling prices at the date of the change.","es":""},"explanation":{"fr":"","en":"Subsequent changes in the transaction price are allocated on the same basis as at contract inception; they are not reallocated to reflect changes in stand-alone selling prices (IFRS 15, para. 88).","es":""},"common_error":{"fr":"","en":"Reallocating a price change on the basis of the stand-alone selling prices at the date of the change.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000398","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000901","tested_point":"VG.IFRS15.000901","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §88","IFRS 15 §89"],"exercise":{"prompt":{"fr":"","en":"Lisière sold a laboratory an analysis instrument and training for its staff, two performance obligations. At contract inception, the transaction price was allocated on the basis of stand-alone selling prices: {equipment_allocation} to the instrument and {training_allocation} to the training. Control of the instrument was transferred in 20X1; the training had not started at 31 December 20X1. At the end of 20X1, the resolution of an uncertainty increases by {price_increase} the amount of consideration to which Lisière expects to be entitled; this change does not relate specifically to either obligation (case datum). At that date, the instrument would represent only {current_equipment_share} of the total stand-alone selling prices. Compute the revenue recognised immediately for the instrument and the amount added to the price allocated to the training.","es":""},"explanation":{"fr":"","en":"The change is allocated on the same basis as at inception, without regard to current stand-alone selling prices (IFRS 15, para. 88): the instrument represented 150,000 / 200,000 = 75% of the price. Since it is not specifically related to one obligation, the change is not allocated to a single obligation (IFRS 15, para. 89). Instrument share: 16,000 × 75% = 12,000, recognised as revenue at the end of 20X1 since the obligation is satisfied. Training share: 4,000, recognised when the training is provided.","es":""},"common_error":{"fr":"","en":"Using the current 70% share instead of the initial basis.","es":""},"format":"CALCULATION","placeholders":[{"id":"equipment_allocation","value":"150000","unit":"EUR"},{"id":"training_allocation","value":"50000","unit":"EUR"},{"id":"price_increase","value":"16000","unit":"EUR"},{"id":"current_equipment_share","value":"70","unit":"PERCENT"}],"data":[{"label":{"fr":"","en":"Price initially allocated to the instrument","es":""},"value":"150000","unit":"EUR"},{"label":{"fr":"","en":"Price initially allocated to the training","es":""},"value":"50000","unit":"EUR"},{"label":{"fr":"","en":"Increase in the transaction price","es":""},"value":"16000","unit":"EUR"},{"label":{"fr":"","en":"Current share of the instrument in the stand-alone selling prices","es":""},"value":"70","unit":"PERCENT"}],"steps":[{"id":"IMMEDIATE_REVENUE","label":{"fr":"","en":"Revenue recognised immediately for the instrument","es":""},"answer":12000,"tolerance":0,"unit":"EUR"},{"id":"TRAINING_ADDITION","label":{"fr":"","en":"Amount added to the price allocated to the training","es":""},"answer":4000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000399","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000901","tested_point":"VG.IFRS15.000901","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"price-changes"},"references":["IFRS 15 §88"],"exercise":{"prompt":{"fr":"","en":"The heating contractor Marvejols Énergie has a contract with a clinic for the supply of a boiler and its maintenance for 3 years. The initial allocation of the transaction price, based on stand-alone selling prices, is {boiler_allocation} to the boiler, control of which was transferred in 20X1, and {maintenance_allocation} to the maintenance, which will start in 20X3. In 20X2, the resolution of an uncertainty about an overall rebate provided for in the contract reduces by {price_decrease} the consideration to which Marvejols Énergie expects to be entitled; the rebate relates to the contract as a whole (case datum). The stand-alone selling price of the boiler fell to {current_boiler_ssp} in 20X2. Compute the reduction in revenue recognised in 20X2 for the boiler and the revised price allocated to the maintenance.","es":""},"explanation":{"fr":"","en":"The decrease is allocated on the same basis as at contract inception, without reallocation to reflect the fall in the boiler's stand-alone selling price (IFRS 15, para. 88). Initial basis: boiler 90,000 / 150,000 = 60%, maintenance 40%. Boiler, an obligation already satisfied: 25,000 × 60% = 15,000 as a reduction of 20X2 revenue. Maintenance: 60,000 − 10,000 = 50,000.","es":""},"common_error":{"fr":"","en":"Recomputing the allocation with the boiler's current stand-alone selling price.","es":""},"format":"CALCULATION","placeholders":[{"id":"boiler_allocation","value":"90000","unit":"EUR"},{"id":"maintenance_allocation","value":"60000","unit":"EUR"},{"id":"price_decrease","value":"25000","unit":"EUR"},{"id":"current_boiler_ssp","value":"80000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Price initially allocated to the boiler","es":""},"value":"90000","unit":"EUR"},{"label":{"fr":"","en":"Price initially allocated to the maintenance","es":""},"value":"60000","unit":"EUR"},{"label":{"fr":"","en":"Decrease in the transaction price","es":""},"value":"25000","unit":"EUR"},{"label":{"fr":"","en":"Current stand-alone selling price of the boiler","es":""},"value":"80000","unit":"EUR"}],"steps":[{"id":"REVENUE_REDUCTION","label":{"fr":"","en":"Reduction of 20X2 revenue for the boiler","es":""},"answer":15000,"tolerance":0,"unit":"EUR"},{"id":"REVISED_MAINTENANCE_ALLOCATION","label":{"fr":"","en":"Revised price allocated to the maintenance","es":""},"answer":50000,"tolerance":0,"unit":"EUR"}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000400","standard_id":"IFRS15","concept_ids":["IFRS15.ALLOCATION.CHANGES","IFRS15.ALLOCATION.DISCOUNTS_AND_VARIABLE"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000400","tested_point":"QST.IFRS15.000400","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000008","section_id":"discount-rule"},"references":["IFRS 15 §89","IFRS 15 §85"],"exercise":{"prompt":{"fr":"","en":"Nébias Médical sold a hospital an imaging system (obligation satisfied in 20X1, allocated price of 300,000) and an operating support service for 2 years (allocated price of 100,000). A bonus depends on the availability rate achieved through the support service. In 20X2, the estimate of the bonus increases by 12,000. Nébias Médical has established that the payment terms of the bonus relate specifically to its support efforts and that allocating it entirely to the support is consistent with the allocation objective (documented analysis). How is the increase of 12,000 allocated?","es":""},"explanation":{"fr":"","en":"A change in the transaction price is allocated entirely to one or more, but not all, obligations only if the criteria for allocating variable consideration are met (IFRS 15, para. 89). They are met here: payment terms specific to the support efforts and consistency with the allocation objective (IFRS 15, para. 85). The increase is therefore allocated entirely to the support service; nothing is allocated to the imaging system.","es":""},"common_error":{"fr":"","en":"Mechanically applying the initial allocation basis to a change that relates specifically to a single obligation.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"9,000 to the imaging system, recognised immediately as revenue, and 3,000 to the support, on the initial basis.","es":""},"correct":false,"feedback":{"fr":"","en":"Allocation on the initial basis applies only in the absence of a specific link; here the criteria are met.","es":""}},{"id":"B","text":{"fr":"","en":"All of it to the support, with no amount allocated to the imaging system.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"On the basis of the stand-alone selling prices of the two obligations at the date of the increase.","es":""},"correct":false,"feedback":{"fr":"","en":"A change in the transaction price is not reallocated to reflect stand-alone selling prices at the date of the change (IFRS 15, para. 88).","es":""}},{"id":"D","text":{"fr":"","en":"All of it to the imaging system, the only obligation already satisfied, as 20X2 revenue.","es":""},"correct":false,"feedback":{"fr":"","en":"The bonus relates to the support, not to the imaging system already delivered.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000401","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"ANALYSIS","context":"V1_QST.IFRS15.000401","tested_point":"QST.IFRS15.000401","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":130,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §B19","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Valdrôme Bâtiment is building a warehouse for a customer; the obligation is satisfied over time and progress is measured by costs incurred. Price: 1,000,000; total expected costs, excluding waste: 800,000. In 20X1, Valdrôme incurred costs of 300,000, of which 60,000 relate to concrete lost through an unexpected handling error, not reflected in the contract price (a significant loss, case datum). The accounting assistant computes progress of 300,000 / 800,000 = 37.5%. What is the error?","es":""},"explanation":{"fr":"","en":"An input method is an accepted method, chosen in the light of the nature of the performance (IFRS 15, para. B14). It nevertheless excludes inputs that do not depict the entity's performance, in particular the costs of significant inefficiencies not reflected in the contract price, such as unexpected waste (IFRS 15, para. B19). The numerator should have been 240,000, giving progress of 30%.","es":""},"common_error":{"fr":"","en":"Including in costs incurred significant waste not reflected in the contract price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"An input method is prohibited for construction work: only an output method is appropriate.","es":""},"correct":false,"feedback":{"fr":"","en":"Input methods are accepted; the choice takes into account the nature of the performance.","es":""}},{"id":"B","text":{"fr":"","en":"The unexpected waste is included in the costs incurred.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Revenue on a warehouse must be recognised only on final acceptance of the work.","es":""},"correct":false,"feedback":{"fr":"","en":"Since the obligation is satisfied over time, revenue follows progress.","es":""}},{"id":"D","text":{"fr":"","en":"The waste should also have been added to total expected costs in the denominator, giving 300,000 / 860,000.","es":""},"correct":false,"feedback":{"fr":"","en":"The waste must be excluded from the measure, not added to the denominator.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000402","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000402","tested_point":"QST.IFRS15.000402","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §B16"],"exercise":{"prompt":{"fr":"","en":"The consulting firm Orsenne Conseil assists a customer with the overhaul of its purchasing. The obligation is satisfied over time (case datum). Fees are 150 per hour worked, invoiced monthly, and Orsenne Conseil has established that this hourly rate corresponds directly to the value to the customer of the performance completed (documented analysis). During March 20X1, Orsenne Conseil worked 120 hours. How may Orsenne Conseil recognise revenue for March?","es":""},"explanation":{"fr":"","en":"When the right to consideration corresponds directly with the value to the customer of the performance completed to date, for example a fixed hourly rate, the entity may, as a practical expedient, recognise revenue in the amount to which it has a right to invoice (IFRS 15, para. B16). March revenue: 120 × 150 = 18,000. The correspondence between the rate and the value to the customer is Orsenne Conseil's conclusion, a case datum.","es":""},"common_error":{"fr":"","en":"Ignoring the practical expedient based on the invoiceable amount.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It recognises no revenue before completion of the assignment, since no final deliverable has been handed over.","es":""},"correct":false,"feedback":{"fr":"","en":"Since the obligation is satisfied over time, revenue does not wait for completion.","es":""}},{"id":"B","text":{"fr":"","en":"It recognises the whole estimated fee for the assignment on signature.","es":""},"correct":false,"feedback":{"fr":"","en":"Revenue follows the performance completed, not the signature of the contract.","es":""}},{"id":"C","text":{"fr":"","en":"It may recognise 18,000, the amount it has a right to invoice.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It recognises revenue equal to the consultants' salaries, with no margin, as long as the outcome is uncertain.","es":""},"correct":false,"feedback":{"fr":"","en":"Nothing indicates that progress cannot be reasonably measured; the practical expedient applies (IFRS 15, para. 45).","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000403","standard_id":"IFRS15","concept_ids":["IFRS15.SATISFACTION.MEASURING_PROGRESS"],"dimension":"CALCULATION","context":"V1_QST.IFRS15.000403","tested_point":"QST.IFRS15.000403","difficulty":"EXPERT","source":"V1","format":"NUMERICAL","estimated_time_s":240,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000011","section_id":"objective"},"references":["IFRS 15 §B19"],"exercise":{"prompt":{"fr":"","en":"Hautvallon is renovating a customer's factory for a price of {contract_price}; the obligation is satisfied over time and progress is measured by costs incurred (documented choice). Total expected costs amount to {total_expected_costs}, of which {unit_cost} for a cooling unit bought from a supplier, without significant involvement of Hautvallon in its design or manufacture. The customer obtains control of the unit as soon as it is delivered to the site in 20X1, well before its installation; the unit is not distinct, and its cost is significant relative to the total (case data). Hautvallon has concluded that recognising revenue equal to the cost of the unit best depicts its performance (judgement, case datum). At 31 December 20X1, in addition to the delivered unit, Hautvallon has incurred {other_costs_incurred} of other costs. Compute the percentage of completion of the other work and the revenue recognised for the unit.","es":""},"explanation":{"fr":"","en":"The cost of the unit is not proportionate to progress: it is excluded from the measure of progress, and, since the conditions are met (good not distinct, control obtained well before the related services, significant cost, procured from a third party without significant involvement), the revenue relating to the unit may be recognised at an amount equal to its cost, with no margin (IFRS 15, para. B19). Progress: 300,000 / (2,000,000 − 800,000) = 300,000 / 1,200,000 = 25%. Revenue for the unit: 800,000.","es":""},"common_error":{"fr":"","en":"Including the cost of the unit in costs incurred: (300,000 + 800,000) / 2,000,000 = 55%.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"2400000","unit":"EUR"},{"id":"total_expected_costs","value":"2000000","unit":"EUR"},{"id":"unit_cost","value":"800000","unit":"EUR"},{"id":"other_costs_incurred","value":"300000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Contract price","es":""},"value":"2400000","unit":"EUR"},{"label":{"fr":"","en":"Total expected costs","es":""},"value":"2000000","unit":"EUR"},{"label":{"fr":"","en":"Cost of the cooling unit","es":""},"value":"800000","unit":"EUR"},{"label":{"fr":"","en":"Other costs incurred at 31 December 20X1","es":""},"value":"300000","unit":"EUR"}],"steps":[{"id":"PROGRESS","label":{"fr":"","en":"Percentage of completion of the other work","es":""},"answer":25,"tolerance":0,"unit":"PERCENT"},{"id":"UNIT_REVENUE","label":{"fr":"","en":"Revenue recognised for the unit","es":""},"answer":800000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"PROGRESS","meaning":{"fr":"","en":"Percentage of completion of the other work","es":""},"expression":"a / (b - c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Other costs incurred at 31 December 20X1","es":""},"value":300000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Total expected costs","es":""},"value":2000000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Cost of the cooling unit","es":""},"value":800000,"unit":"EUR"}],"result":25,"unit":"PERCENT"}],"references":["REF.IFRS15.B19"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000404","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000404","tested_point":"QST.IFRS15.000404","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B22","IFRS 15 §B21"],"exercise":{"prompt":{"fr":"","en":"Bruyère sells hiking backpacks with a 60-day right of return. Its management controller proposes to treat the promise to stand ready to take back the backpacks during those 60 days as a separate performance obligation, to which part of the transaction price would be allocated. This analysis complies with IFRS 15.","es":""},"explanation":{"fr":"","en":"During the return period, the entity's promise to stand ready to accept a returned product is not a separate performance obligation in addition to the obligation to refund the customer (IFRS 15, para. B22). No part of the transaction price is therefore allocated to it: the sale with a right of return results in revenue excluding expected returns, a refund liability and an asset for the right to recover the products (IFRS 15, para. B21).","es":""},"common_error":{"fr":"","en":"Allocating part of the transaction price to the return period.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000405","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000951","tested_point":"VG.IFRS15.000951","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B25","IFRS 15 §B21"],"exercise":{"prompt":{"fr":"","en":"Altimètre sells tents with a right of return. At the date of sale, it estimates (case data) that {units_expected_returned} tents will be returned. The carrying amount of each tent in inventory before the sale was EUR {unit_carrying_amount}. Altimètre expects to incur recovery costs of EUR {expected_recovery_costs} in total to take back those tents and estimates that each returned tent will lose EUR {value_decrease_per_unit} of value to it. Calculate the amount of the asset for the right to recover the products.","es":""},"explanation":{"fr":"","en":"The asset for the right to recover the products is measured by reference to the former carrying amount of the products, less the expected costs to recover them, including potential decreases in the value of the returned products (IFRS 15, para. B25). Former carrying amount: 25 × 120 = EUR 3,000. Decreases in value: 25 × 10 = EUR 250. Asset: 3,000 − 300 − 250 = EUR 2,450. The number of expected returns and the decrease in value are estimates given by the case; the asset is presented separately from the refund liability (IFRS 15, para. B25).","es":""},"common_error":{"fr":"","en":"Forgetting to deduct the decrease in value of the returned tents.","es":""},"format":"CALCULATION","placeholders":[{"id":"units_expected_returned","value":"25","unit":"UNITS"},{"id":"unit_carrying_amount","value":"120","unit":"EUR"},{"id":"expected_recovery_costs","value":"300","unit":"EUR"},{"id":"value_decrease_per_unit","value":"10","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Tents expected to be returned","es":""},"value":"25","unit":"UNITS"},{"label":{"fr":"","en":"Unit carrying amount before the sale","es":""},"value":"120","unit":"EUR"},{"label":{"fr":"","en":"Expected recovery costs","es":""},"value":"300","unit":"EUR"},{"label":{"fr":"","en":"Decrease in value per returned tent","es":""},"value":"10","unit":"EUR"}],"steps":[{"id":"RIGHT_TO_RECOVER_ASSET","label":{"fr":"","en":"Asset for the right to recover the products","es":""},"answer":2450,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"RIGHT_TO_RECOVER_ASSET","meaning":{"fr":"","en":"Asset for the right to recover the products","es":""},"expression":"(a * b) - c - (a * d)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Tents expected to be returned","es":""},"value":25,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Unit carrying amount before the sale","es":""},"value":120,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Expected recovery costs","es":""},"value":300,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Decrease in value per returned tent","es":""},"value":10,"unit":"EUR"}],"result":2450,"unit":"EUR"}],"references":["REF.IFRS15.B25"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000406","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.RIGHT_OF_RETURN"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000951","tested_point":"VG.IFRS15.000951","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":200,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"return-rule"},"references":["IFRS 15 §B25","IFRS 15 §B26","IFRS 15 §B23"],"exercise":{"prompt":{"fr":"","en":"The online shop Mailles Fines sells {units_sold} sweaters at EUR {unit_price} each; each sweater was carried in inventory at EUR {unit_cost}. Customers may send a sweater back for a refund, or exchange it for the same model in another size, at the same price and in the same condition. Based on its history (case data, returns constrained in accordance with the variable consideration requirements), Mailles Fines expects {units_sent_back} sweaters to be sent back, of which {units_exchanged} for a mere size exchange. For each refunded sweater, it expects a recovery cost of EUR {recovery_cost_per_unit} and a total decrease in value of EUR {total_value_decrease} across all the refunded sweaters (costs relating to exchanges are ignored for this exercise — teaching assumption). Calculate revenue, the refund liability and the asset for the right to recover the products.","es":""},"explanation":{"fr":"","en":"An exchange for a product of the same type, quality, condition and price is not treated as a return (IFRS 15, para. B26): only 80 − 30 = 50 sweaters are expected returns. No revenue is recognised for those 50 sweaters, for which a refund liability is recognised: 50 × 90 = EUR 4,500 (IFRS 15, para. B23). Revenue: 1,000 × 90 − 4,500 = EUR 85,500. The asset for the right to recover the products is the former carrying amount less the expected recovery costs, including decreases in value (IFRS 15, para. B25): 50 × 40 − 50 × 3 − 200 = 2,000 − 150 − 200 = EUR 1,650. The volumes of returns and exchanges are estimates of the case.","es":""},"common_error":{"fr":"","en":"Treating the size exchanges as returns and reducing revenue for 80 sweaters.","es":""},"format":"CALCULATION","placeholders":[{"id":"units_sold","value":"1000","unit":"UNITS"},{"id":"unit_price","value":"90","unit":"EUR"},{"id":"unit_cost","value":"40","unit":"EUR"},{"id":"units_sent_back","value":"80","unit":"UNITS"},{"id":"units_exchanged","value":"30","unit":"UNITS"},{"id":"recovery_cost_per_unit","value":"3","unit":"EUR"},{"id":"total_value_decrease","value":"200","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Sweaters sold","es":""},"value":"1000","unit":"UNITS"},{"label":{"fr":"","en":"Unit selling price","es":""},"value":"90","unit":"EUR"},{"label":{"fr":"","en":"Unit carrying amount in inventory","es":""},"value":"40","unit":"EUR"},{"label":{"fr":"","en":"Sweaters expected to be sent back","es":""},"value":"80","unit":"UNITS"},{"label":{"fr":"","en":"Of which expected size exchanges","es":""},"value":"30","unit":"UNITS"},{"label":{"fr":"","en":"Recovery cost per refunded sweater","es":""},"value":"3","unit":"EUR"},{"label":{"fr":"","en":"Total decrease in value of the refunded sweaters","es":""},"value":"200","unit":"EUR"}],"steps":[{"id":"REVENUE","label":{"fr":"","en":"Revenue","es":""},"answer":85500,"tolerance":0,"unit":"EUR"},{"id":"REFUND_LIABILITY","label":{"fr":"","en":"Refund liability","es":""},"answer":4500,"tolerance":0,"unit":"EUR"},{"id":"RIGHT_TO_RECOVER_ASSET","label":{"fr":"","en":"Asset for the right to recover the products","es":""},"answer":1650,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REFUND_LIABILITY","meaning":{"fr":"","en":"Refund liability","es":""},"expression":"(a - b) * c","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sweaters expected to be sent back","es":""},"value":80,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Of which expected size exchanges","es":""},"value":30,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Unit selling price","es":""},"value":90,"unit":"EUR"}],"result":4500,"unit":"EUR"},{"step":"RIGHT_TO_RECOVER_ASSET","meaning":{"fr":"","en":"Asset for the right to recover the products","es":""},"expression":"(a - b) * c - (a - b) * d - e","variables":[{"symbol":"a","meaning":{"fr":"","en":"Sweaters expected to be sent back","es":""},"value":80,"unit":"UNITS"},{"symbol":"b","meaning":{"fr":"","en":"Of which expected size exchanges","es":""},"value":30,"unit":"UNITS"},{"symbol":"c","meaning":{"fr":"","en":"Unit carrying amount in inventory","es":""},"value":40,"unit":"EUR"},{"symbol":"d","meaning":{"fr":"","en":"Recovery cost per refunded sweater","es":""},"value":3,"unit":"EUR"},{"symbol":"e","meaning":{"fr":"","en":"Total decrease in value of the refunded sweaters","es":""},"value":200,"unit":"EUR"}],"result":1650,"unit":"EUR","rationale":{"fr":"","en":"The asset for the right to recover the products is the former carrying amount less the expected recovery costs, including decreases in value (IFRS 15, para. B25): 50 × 40 − 50 × 3 − 200 = 2,000 − 150 − 200 = EUR 1,650.","es":""}}],"references":["REF.IFRS15.B25","REF.IFRS15.B26","REF.IFRS15.B23"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000407","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000407","tested_point":"QST.IFRS15.000407","difficulty":"INTERMEDIATE","source":"V1","format":"TRUE_FALSE","estimated_time_s":45,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15 §B29"],"exercise":{"prompt":{"fr":"","en":"Sablier sells diving watches. Its customers may, if they wish, purchase separately a 3-year extended warranty offered at a separate price. When a customer buys a watch with that extension, the extension is a performance obligation to which Sablier allocates part of the transaction price.","es":""},"explanation":{"fr":"","en":"When the customer has the option to purchase a warranty separately, because it is priced separately or negotiated separately, the warranty is a distinct service: the entity accounts for it as a performance obligation and allocates part of the transaction price to it (IFRS 15, para. B29). The statement is therefore true.","es":""},"common_error":{"fr":"","en":"Accounting for the separately sold extended warranty as a provision under IAS 37.","es":""},"format":"TRUE_FALSE","answer":true},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000408","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000408","tested_point":"QST.IFRS15.000408","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":60,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15 §B30","IFRS 15 §B29"],"exercise":{"prompt":{"fr":"","en":"Vélo Ardent grants on each bicycle a 2-year warranty covering manufacturing defects. The warranty cannot be purchased separately and only provides assurance that the bicycle complies with the agreed specifications. How does Vélo Ardent account for this warranty?","es":""},"explanation":{"fr":"","en":"A warranty that the customer cannot purchase separately is accounted for in accordance with IAS 37, unless it provides the customer with a service in addition to the assurance that the product complies with agreed specifications (IFRS 15, para. B30). Here, the warranty is limited to that assurance: it is not a performance obligation and falls under IAS 37, whose measurement is not the subject of the question. Treatment as a distinct performance obligation applies to warranties that the customer can purchase separately (IFRS 15, para. B29).","es":""},"common_error":{"fr":"","en":"Allocating part of the price to a warranty that only provides assurance of compliance.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a separate performance obligation, to which part of the bicycle's selling price is allocated.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the warranty cannot be purchased separately and provides no service beyond the assurance of compliance; it is therefore not a performance obligation.","es":""}},{"id":"B","text":{"fr":"","en":"In accordance with IAS 37, because it only provides assurance that the bicycle complies with the agreed specifications.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"By deferring the entire selling price of the bicycle until the 2-year warranty expires.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the warranty does not delay recognition of the revenue from the sale of the bicycle; it falls under IAS 37.","es":""}},{"id":"D","text":{"fr":"","en":"It does not account for it at all, since the customer pays nothing extra to obtain it.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the absence of a separate price does not remove the obligation; the assurance warranty is accounted for under IAS 37.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000409","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000409","tested_point":"QST.IFRS15.000409","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15","IFRS 15 §B29","IFRS 15 §B32"],"exercise":{"prompt":{"fr":"","en":"Robotique Vernier sells household robots. Which of the following promises made to its customers do NOT create a performance obligation?","es":""},"explanation":{"fr":"","en":"A legal obligation to pay compensation for harm caused by products does not create a performance obligation, nor does a promise to indemnify the customer for claims of patent, copyright or trademark infringement: these promises fall under IAS 37 (IFRS 15, para. B33). By contrast, an extended warranty that the customer can purchase separately is a performance obligation (IFRS 15, para. B29), as is the part of a warranty that provides a service in addition to the assurance of compliance (IFRS 15, para. B32).","es":""},"common_error":{"fr":"","en":"Treating a promise of indemnification for infringement as a distinct service to which part of the price must be allocated.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The 4-year extended warranty that the customer can purchase separately for EUR 90.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a warranty that the customer can purchase separately is a distinct service and therefore a performance obligation.","es":""}},{"id":"B","text":{"fr":"","en":"The legal obligation to pay compensation for harm caused by a defective robot.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"The promise to indemnify the customer if a third party sues it for infringement of a patent embedded in the robot.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"The annual servicing included in the warranty, provided in addition to the assurance of compliance.","es":""},"correct":false,"feedback":{"fr":"","en":"No: a service provided in addition to the assurance of compliance is a performance obligation.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000410","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000952","tested_point":"VG.IFRS15.000952","difficulty":"INTERMEDIATE","source":"V1","format":"NUMERICAL","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §B29","IFRS 15 §76"],"exercise":{"prompt":{"fr":"","en":"Torréfacteur Brun sells a professional coffee machine with a 3-year extended warranty for a total price of EUR {contract_price}. It also sells the machine separately, at a stand-alone selling price of EUR {machine_ssp}, and the extended warranty, at a stand-alone selling price of EUR {warranty_ssp} (case data). Calculate the share of the transaction price allocated to the extended warranty and the share allocated to the machine.","es":""},"explanation":{"fr":"","en":"The extended warranty can be purchased separately: it is a distinct service and therefore a performance obligation to which part of the transaction price is allocated (IFRS 15, para. B29). The allocation is made in proportion to the stand-alone selling prices (IFRS 15, para. 76): total 1,700 + 300 = EUR 2,000. Warranty: 1,800 × 300 / 2,000 = EUR 270. Machine: 1,800 × 1,700 / 2,000 = EUR 1,530. The stand-alone selling prices are case data.","es":""},"common_error":{"fr":"","en":"Allocating the full stand-alone selling price to the warranty and the remainder to the machine.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"1800","unit":"EUR"},{"id":"machine_ssp","value":"1700","unit":"EUR"},{"id":"warranty_ssp","value":"300","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract price","es":""},"value":"1800","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the machine","es":""},"value":"1700","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":"300","unit":"EUR"}],"steps":[{"id":"ALLOCATED_TO_WARRANTY","label":{"fr":"","en":"Price allocated to the extended warranty","es":""},"answer":270,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_TO_MACHINE","label":{"fr":"","en":"Price allocated to the machine","es":""},"answer":1530,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALLOCATED_TO_WARRANTY","meaning":{"fr":"","en":"Price allocated to the extended warranty","es":""},"expression":"a * b / (c + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":1800,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":300,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the machine","es":""},"value":1700,"unit":"EUR"}],"result":270,"unit":"EUR"},{"step":"ALLOCATED_TO_MACHINE","meaning":{"fr":"","en":"Price allocated to the machine","es":""},"expression":"a * b / (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":1800,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the machine","es":""},"value":1700,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":300,"unit":"EUR"}],"result":1530,"unit":"EUR"}],"rationale":{"fr":"","en":"The extended warranty can be purchased separately: it is a distinct service and therefore a performance obligation to which part of the transaction price is allocated (IFRS 15, para. B29).","es":""},"references":["REF.IFRS15.B29","REF.IFRS15.76"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000411","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES","IFRS15.ALLOCATION.STAND_ALONE_SELLING_PRICE"],"dimension":"CALCULATION","context":"V1_VG.IFRS15.000952","tested_point":"VG.IFRS15.000952","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000007","section_id":"objective"},"references":["IFRS 15 §B29","IFRS 15 §B30","IFRS 15 §76","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Imprimerie Lagune buys from Encre Vive an industrial printer for a total price of EUR {contract_price}. The price covers: the printer, with the 1-year statutory warranty of conformity, which cannot be purchased separately and only provides assurance that the printer complies with agreed specifications; and a 2-year extended warranty, which Encre Vive also sells separately. The stand-alone selling prices are EUR {printer_ssp} for the printer and EUR {extension_ssp} for the extension (case data). Calculate the share of the transaction price allocated to the extended warranty and the share allocated to the printer.","es":""},"explanation":{"fr":"","en":"The 1-year statutory warranty cannot be purchased separately and only provides assurance of compliance: it falls under IAS 37 and receives no share of the price (IFRS 15, para. B30); its statutory nature also indicates a mere assurance of compliance (IFRS 15, para. B31). The 2-year extension, sold separately, is a performance obligation (IFRS 15, para. B29). The price is allocated between the printer and the extension in proportion to their stand-alone selling prices (IFRS 15, para. 76): total 9,000 + 1,000 = EUR 10,000. Extension: 9,500 × 1,000 / 10,000 = EUR 950. Printer: 9,500 × 9,000 / 10,000 = EUR 8,550.","es":""},"common_error":{"fr":"","en":"Creating a third performance obligation for the statutory warranty of conformity.","es":""},"format":"CALCULATION","placeholders":[{"id":"contract_price","value":"9500","unit":"EUR"},{"id":"printer_ssp","value":"9000","unit":"EUR"},{"id":"extension_ssp","value":"1000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Total contract price","es":""},"value":"9500","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the printer","es":""},"value":"9000","unit":"EUR"},{"label":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":"1000","unit":"EUR"}],"steps":[{"id":"ALLOCATED_TO_EXTENSION","label":{"fr":"","en":"Price allocated to the extended warranty","es":""},"answer":950,"tolerance":0,"unit":"EUR"},{"id":"ALLOCATED_TO_PRINTER","label":{"fr":"","en":"Price allocated to the printer","es":""},"answer":8550,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"ALLOCATED_TO_EXTENSION","meaning":{"fr":"","en":"Price allocated to the extended warranty","es":""},"expression":"a * b / (c + b)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":9500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":1000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the printer","es":""},"value":9000,"unit":"EUR"}],"result":950,"unit":"EUR"},{"step":"ALLOCATED_TO_PRINTER","meaning":{"fr":"","en":"Price allocated to the printer","es":""},"expression":"a * b / (b + c)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Total contract price","es":""},"value":9500,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Stand-alone selling price of the printer","es":""},"value":9000,"unit":"EUR"},{"symbol":"c","meaning":{"fr":"","en":"Stand-alone selling price of the extended warranty","es":""},"value":1000,"unit":"EUR"}],"result":8550,"unit":"EUR"}],"references":["REF.IFRS15.B29","REF.IFRS15.B30","REF.IFRS15.76","REF.IFRS15.B31"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000412","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000412","tested_point":"QST.IFRS15.000412","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15 §B32"],"exercise":{"prompt":{"fr":"","en":"Chaudières Brasier installs boilers with a 5-year warranty that is not sold separately. The warranty provides assurance of the boiler's compliance and also includes an annual preventive visit, which is a service in addition to the assurance of compliance. The two parts are so intertwined that Chaudières Brasier cannot reasonably account for them separately (case data). Which treatment should be applied?","es":""},"explanation":{"fr":"","en":"When a warranty, or part of it, provides a service in addition to the assurance of compliance, that service is a performance obligation to which part of the price is allocated; if the entity cannot reasonably account for the service and the assurance separately, it accounts for both together as a single performance obligation (IFRS 15, para. B32). The inability to separate the two parts is case data here, which in practice involves the entity's judgement.","es":""},"common_error":{"fr":"","en":"Accounting entirely under IAS 37 for a warranty that includes a service.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Account for the whole warranty under IAS 37, since it cannot be purchased separately.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the warranty provides a service in addition to the assurance; it cannot be accounted for entirely under IAS 37.","es":""}},{"id":"B","text":{"fr":"","en":"Allocate the warranty price equally between the two parts, in the absence of better information.","es":""},"correct":false,"feedback":{"fr":"","en":"No: when the two parts cannot reasonably be separated, the standard does not provide for a flat allocation but for accounting for them together.","es":""}},{"id":"C","text":{"fr":"","en":"Account for the assurance and the service together as a single performance obligation, to which part of the transaction price is allocated.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Treat the service as a performance obligation and recognise a provision for the assurance under IAS 37, whatever the difficulties of separation.","es":""},"correct":false,"feedback":{"fr":"","en":"No: this separation requires that the entity can reasonably account for the two parts separately, which is not the case.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000413","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000413","tested_point":"QST.IFRS15.000413","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":100,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15 §B32","IFRS 15 §B30"],"exercise":{"prompt":{"fr":"","en":"Climatiseurs Boréal sells air conditioners with a warranty, not sold separately, that has two parts: an assurance of compliance for 1 year and a technical assistance service for 4 years, which goes beyond that assurance. Climatiseurs Boréal can reasonably account for the two parts separately (case data). What is the appropriate treatment?","es":""},"explanation":{"fr":"","en":"If a warranty, or part of a warranty, provides a service in addition to the assurance of compliance, that service is a performance obligation to which part of the transaction price is allocated (IFRS 15, para. B32). The part limited to the assurance of compliance, not sold separately, is accounted for under IAS 37 (IFRS 15, para. B30). Since the two parts can reasonably be separated, each follows its own treatment.","es":""},"common_error":{"fr":"","en":"Accounting entirely under IAS 37 for a warranty part of which provides a service.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The assistance service is a performance obligation receiving a share of the price; the assurance of compliance falls under IAS 37.","es":""},"correct":true},{"id":"B","text":{"fr":"","en":"Both parts fall under IAS 37, because the warranty cannot be purchased separately.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the absence of a separate sale is not enough; the part that provides a service in addition to the assurance is a performance obligation.","es":""}},{"id":"C","text":{"fr":"","en":"Each part is a performance obligation, because any warranty longer than 1 year is a distinct service.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the assurance of compliance part is not a performance obligation, and the standard sets no length threshold that would automatically make a warranty a service.","es":""}},{"id":"D","text":{"fr":"","en":"The two parts must form a single performance obligation, because they appear in the same commercial warranty.","es":""},"correct":false,"feedback":{"fr":"","en":"No: accounting for them together is required only if the entity cannot reasonably separate the two parts, which is not the case here.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000414","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000414","tested_point":"QST.IFRS15.000414","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":150,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15 §B30","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Électroménager Saule sells washing machines with the 2-year warranty required by the law of its country, which cannot be purchased separately. Saule also undertakes to bear the cost of shipping any defective appliance back to its workshop during that period. No other service is promised. Its analyst concludes that the warranty and the shipping promise only provide assurance of compliance. Which treatment follows?","es":""},"explanation":{"fr":"","en":"A warranty that the customer cannot purchase separately falls under IAS 37, unless it provides a service in addition to the assurance of compliance (IFRS 15, para. B30). To assess this, the entity considers in particular whether the warranty is required by law, which suggests there is no performance obligation, the length of the coverage period and the nature of the tasks promised: shipping a defective product back is a task needed to provide assurance of compliance, which probably does not create a performance obligation (IFRS 15, para. B31). The analyst's conclusion involves judgement, supported here by these indicators.","es":""},"common_error":{"fr":"","en":"Seeing a distinct service in any logistics task linked to the warranty.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"The return-shipping promise is a separate performance obligation, since it is a logistics service provided to the customer.","es":""},"correct":false,"feedback":{"fr":"","en":"No: shipping a defective product is a task needed to provide assurance of compliance; it probably does not create a performance obligation.","es":""}},{"id":"B","text":{"fr":"","en":"The warranty becomes a performance obligation as soon as its length exceeds 1 year, whatever the nature of the tasks promised.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the length of coverage is one indicator among others, with no threshold; it must be assessed together with the legal requirement and the nature of the tasks.","es":""}},{"id":"C","text":{"fr":"","en":"The legal nature of the warranty requires it to be excluded from any accounting, IAS 37 included.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the legal requirement suggests there is no performance obligation, but the assurance warranty is accounted for under IAS 37.","es":""}},{"id":"D","text":{"fr":"","en":"The warranty, return shipping included, is not a performance obligation and is accounted for under IAS 37.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000415","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.WARRANTIES"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000415","tested_point":"QST.IFRS15.000415","difficulty":"ADVANCED","source":"V1","format":"TRUE_FALSE","estimated_time_s":50,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000015","section_id":"exchanges-and-defects"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Logiciels Sentinelle sells security units and contractually undertakes to indemnify its customers if a third party sues them for infringement of a trademark or patent used in the units. This promise of indemnification is a performance obligation to which Sentinelle must allocate part of the transaction price.","es":""},"explanation":{"fr":"","en":"A promise to indemnify the customer for claims of patent, copyright or trademark infringement does not create a performance obligation; it is accounted for under IAS 37, like a legal obligation to pay compensation for harm caused by products (IFRS 15, para. B33). No part of the transaction price is allocated to it.","es":""},"common_error":{"fr":"","en":"Allocating part of the price to a promise of indemnification.","es":""},"format":"TRUE_FALSE","answer":false},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000416","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.CUSTOMER_OPTIONS"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000416","tested_point":"QST.IFRS15.000416","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"material-right"},"references":["IFRS 15 §B41","IFRS 15 §B40"],"exercise":{"prompt":{"fr":"","en":"Ébène et Fils sells a dining table for EUR 2,400. The contract gives the customer the option to buy, within 12 months, matching chairs at EUR 150 each. That price is the one at which Ébène et Fils sells those chairs to any customer, without conditions (case data: it reflects the stand-alone selling price of the chairs). The offer is, however, available only to buyers of the table. How should this option be treated?","es":""},"explanation":{"fr":"","en":"An option to acquire a good or service at a price that reflects its stand-alone selling price does not provide the customer with a material right, even if it can be exercised only because the customer entered into the previous contract: it is a marketing offer, accounted for only when the customer exercises the option (IFRS 15, para. B41). An option creates a performance obligation only if it provides a material right, for example a discount that exceeds the discounts usually granted for those goods to that class of customer in the same geographical area or market (IFRS 15, para. B40). No part of the EUR 2,400 is therefore allocated to the option.","es":""},"common_error":{"fr":"","en":"Treating as a material right an option exercisable at the stand-alone selling price.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It is a material right, since only buyers of the table can benefit from it; part of the table's price is allocated to it.","es":""},"correct":false,"feedback":{"fr":"","en":"No: access restricted to buyers of the table is not enough; at the stand-alone selling price, the option provides no material right.","es":""}},{"id":"B","text":{"fr":"","en":"It is a marketing offer: no performance obligation is identified, and the sale of the chairs will be accounted for if the customer exercises the option.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"It is a material right measured by taking into account the likelihood that the customer will buy the chairs within 12 months.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the likelihood of exercise is used in measuring a material right; but the option, at the stand-alone selling price, is not one.","es":""}},{"id":"D","text":{"fr":"","en":"It is a performance obligation, because any purchase option included in a contract obliges the entity to stand ready to deliver.","es":""},"correct":false,"feedback":{"fr":"","en":"No: an option creates a performance obligation only if it provides the customer with a material right.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000417","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"CALCULATION","context":"V1_QST.IFRS15.000417","tested_point":"QST.IFRS15.000417","difficulty":"ADVANCED","source":"V1","format":"NUMERICAL","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Thermes d'Argile sells non-refundable prepaid vouchers for treatments in 20X1 for EUR {vouchers_sold}. Based on its experience with comparable vouchers (case data), the entity expects rights of EUR {expected_unexercised} never to be exercised and concludes, after considering the constraint on estimates of variable consideration, that it expects to be entitled to that amount. In 20X1, customers use vouchers for EUR {vouchers_redeemed} of treatments. No amount must be remitted to a third party. Calculate revenue for 20X1 and the contract liability at the end of 20X1.","es":""},"explanation":{"fr":"","en":"When the vouchers are sold, the entity recognises a contract liability, derecognised as revenue when the treatments are provided (IFRS 15, para. B44). When it expects to be entitled to an amount of unexercised rights, it recognises that amount as revenue in proportion to the pattern of rights exercised by customers, taking into account the constraint on estimates of variable consideration (IFRS 15, para. B46). Rights expected to be exercised: 120,000 − 12,000 = EUR 108,000; share exercised in 20X1: 72,000 / 108,000 = 2/3. Unexercised rights recognised: 12,000 × 2/3 = EUR 8,000. Revenue: 72,000 + 8,000 = EUR 80,000. Contract liability: 120,000 − 80,000 = EUR 40,000. The amount of expected unexercised rights is an estimate of the case.","es":""},"common_error":{"fr":"","en":"Recognising all the expected unexercised rights as soon as the vouchers are sold.","es":""},"format":"CALCULATION","placeholders":[{"id":"vouchers_sold","value":"120000","unit":"EUR"},{"id":"expected_unexercised","value":"12000","unit":"EUR"},{"id":"vouchers_redeemed","value":"72000","unit":"EUR"}],"data":[{"label":{"fr":"","en":"Vouchers sold in 20X1","es":""},"value":"120000","unit":"EUR"},{"label":{"fr":"","en":"Expected unexercised rights","es":""},"value":"12000","unit":"EUR"},{"label":{"fr":"","en":"Vouchers used in 20X1","es":""},"value":"72000","unit":"EUR"}],"steps":[{"id":"REVENUE_20X1","label":{"fr":"","en":"Revenue for 20X1","es":""},"answer":80000,"tolerance":0,"unit":"EUR"},{"id":"CONTRACT_LIABILITY_END","label":{"fr":"","en":"Contract liability at the end of 20X1","es":""},"answer":40000,"tolerance":0,"unit":"EUR"}],"formula":{"lines":[{"step":"REVENUE_20X1","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"expression":"a + (b * 2 / 3)","variables":[{"symbol":"a","meaning":{"fr":"","en":"Vouchers used in 20X1","es":""},"value":72000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Expected unexercised rights","es":""},"value":12000,"unit":"EUR"}],"result":80000,"unit":"EUR"},{"step":"CONTRACT_LIABILITY_END","meaning":{"fr":"","en":"Contract liability at the end of 20X1","es":""},"expression":"a - b","variables":[{"symbol":"a","meaning":{"fr":"","en":"Vouchers sold in 20X1","es":""},"value":120000,"unit":"EUR"},{"symbol":"b","meaning":{"fr":"","en":"Revenue for 20X1","es":""},"value":80000,"unit":"EUR"}],"result":40000,"unit":"EUR"}],"rationale":{"fr":"","en":"When the vouchers are sold, the entity recognises a contract liability, derecognised as revenue when the treatments are provided (IFRS 15, para. B44).","es":""},"references":["REF.IFRS15.B46","REF.IFRS15.B44"]}},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000418","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000418","tested_point":"QST.IFRS15.000418","difficulty":"INTERMEDIATE","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15 §B47","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The bookshop chain Bons Lumière sells gift cards. In the region where it operates, an unclaimed property law requires it to remit to the public authority the balance of cards that remain unused at expiry (case data). Bons Lumière expects balances of EUR 4,000 never to be used. How does it account for this amount?","es":""},"explanation":{"fr":"","en":"Consideration attributable to unexercised rights that the entity is required to remit to a third party, for example to a public authority under unclaimed property laws, is recognised as a liability and not as revenue (IFRS 15, para. B47). The mechanism for recognising unexercised rights as revenue, in proportion to the rights exercised or when exercise becomes remote, only covers amounts to which the entity expects to be entitled (IFRS 15, para. B46).","es":""},"common_error":{"fr":"","en":"Applying the unexercised rights mechanism to an amount that must be remitted to a third party.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"It recognises the EUR 4,000 as revenue in proportion to the use of the other cards by customers.","es":""},"correct":false,"feedback":{"fr":"","en":"No: this mechanism requires the entity to expect to be entitled to the amount; here, it must be remitted to the public authority.","es":""}},{"id":"B","text":{"fr":"","en":"It recognises the EUR 4,000 as revenue when the cards expire, once their use becomes unlikely.","es":""},"correct":false,"feedback":{"fr":"","en":"No: an amount to be remitted to a third party is never recognised as revenue, even when the cards expire.","es":""}},{"id":"C","text":{"fr":"","en":"It recognises this amount as a liability, because it will have to be remitted to the public authority; no revenue is recognised for it.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"It recognises the EUR 4,000 as revenue when the cards are sold, then recognises an expense when it pays that balance to the public authority.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the case states that the balance must be remitted; it was never revenue of the entity.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000419","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.UNEXERCISED_RIGHTS_AND_FEES"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000419","tested_point":"QST.IFRS15.000419","difficulty":"ADVANCED","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":120,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000017","section_id":"advance-payments"},"references":["IFRS 15"],"exercise":{"prompt":{"fr":"","en":"Nuage Clair enters into a 3-year IT hosting contract and charges non-refundable upfront fees of EUR 30,000, intended, among other things, to cover its set-up costs of EUR 18,000 (migrating the data onto its own servers). Its analysis, not challenged here, concludes that these set-up activities transfer no service to the customer and satisfy no performance obligation. The hosting service is satisfied over time, and progress is measured on the basis of costs incurred (input method, a choice of the case). Which treatment is appropriate?","es":""},"explanation":{"fr":"","en":"When set-up activities do not satisfy a performance obligation, the entity disregards them, and their costs, when measuring progress using an input method, because they do not depict the transfer of services to the customer; it assesses whether those costs should be recognised as an asset as costs to fulfil the contract (IFRS 15, para. B51). The upfront fees, which relate to no service transferred, are an advance payment for future services and are recognised as revenue when those services are provided (IFRS 15, para. B49); if the contract included a renewal option providing a material right, that period could extend beyond the 3 years (IFRS 15, paras. B49 and B40). The conclusion on the nature of the activities and the choice of the measure of progress involve judgement.","es":""},"common_error":{"fr":"","en":"Letting set-up costs inflate the measure of progress.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Include the EUR 18,000 of set-up costs in the measure of progress, which allows a significant part of the revenue to be recognised upon migration.","es":""},"correct":false,"feedback":{"fr":"","en":"No: activities that transfer no service are excluded from an input-based measure of progress.","es":""}},{"id":"B","text":{"fr":"","en":"Recognise the EUR 30,000 of upfront fees as revenue as soon as they are invoiced, since they are non-refundable.","es":""},"correct":false,"feedback":{"fr":"","en":"No: being non-refundable is not enough; the fees are an advance payment for future hosting services.","es":""}},{"id":"C","text":{"fr":"","en":"Treat the migration as a separate performance obligation satisfied at a point in time and allocate the EUR 30,000 to it.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the case establishes that the set-up transfers no service to the customer; it is not a performance obligation.","es":""}},{"id":"D","text":{"fr":"","en":"Exclude the set-up from the measure of progress and assess whether its costs are costs to fulfil the contract to be capitalised; the fees are recognised as revenue as the hosting is provided.","es":""},"correct":true}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000420","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"RULE_KNOWLEDGE","context":"V1_QST.IFRS15.000420","tested_point":"QST.IFRS15.000420","difficulty":"ADVANCED","source":"V1","format":"MULTIPLE_CHOICE","estimated_time_s":90,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B64","IFRS 15 §B65"],"exercise":{"prompt":{"fr":"","en":"Forges Ardoise sells industrial presses. Which of the following clauses, included in its sales contracts, make the sale a repurchase agreement within the meaning of IFRS 15?","es":""},"explanation":{"fr":"","en":"A repurchase agreement is a contract in which the entity sells an asset and promises, or has the option, to repurchase it; the repurchased asset may be the asset sold, an asset that is substantially the same or an asset of which the asset sold is a component. It generally comes in three forms: an obligation of the entity to repurchase (a forward), a right of the entity to repurchase (a call option) and an obligation to repurchase at the customer's request (a put option) (IFRS 15, paras. B64 and B65). A purchase commitment covering goods unrelated to the asset sold, or a mere assurance of compliance, is not one.","es":""},"common_error":{"fr":"","en":"Forgetting that the customer's right to sell back (a put option) is also a repurchase agreement.","es":""},"format":"MULTIPLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"Forges Ardoise undertakes to buy from the customer, the following year, castings unrelated to the press sold.","es":""},"correct":false,"feedback":{"fr":"","en":"No: the promise must relate to the asset sold, a substantially identical asset or an asset of which it is a component.","es":""}},{"id":"B","text":{"fr":"","en":"Forges Ardoise is required to repurchase the press from the customer on a date set in the contract.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"Forges Ardoise has the right, if it so wishes, to repurchase the press from the customer for 3 years.","es":""},"correct":true},{"id":"D","text":{"fr":"","en":"Forges Ardoise must repurchase the press if the customer asks it to do so within 3 years.","es":""},"correct":true},{"id":"E","text":{"fr":"","en":"Forges Ardoise warrants for 1 year that the press complies with the agreed specifications.","es":""},"correct":false,"feedback":{"fr":"","en":"No: an assurance of compliance contains no promise to repurchase the asset.","es":""}}]},"scope":"CORE_STUDENT"},{"key":"QST.IFRS15.000421","standard_id":"IFRS15","concept_ids":["IFRS15.APPLICATION.REPURCHASE_CONSIGNMENT_BILL_AND_HOLD"],"dimension":"APPLICATION","context":"V1_QST.IFRS15.000421","tested_point":"QST.IFRS15.000421","difficulty":"EXPERT","source":"V1","format":"SINGLE_CHOICE","estimated_time_s":180,"lesson_id":null,"review":{"standard_id":"IFRS15","lesson_id":"LS.IFRS15.000012","section_id":"repurchase-forms"},"references":["IFRS 15 §B73","IFRS 15 §B68","IFRS 15 §B74","IFRS 15"],"exercise":{"prompt":{"fr":"","en":"The shipyard Navires Corail sells a sailing yacht to a rental company for EUR 2,000,000. The contract requires Navires Corail to repurchase the yacht in 2 years for EUR 2,100,000 if the rental company so requests. At contract inception, the expected market value of the yacht at the repurchase date is estimated at EUR 1,500,000 (case data). The transaction is not part of a sale and leaseback. How does Navires Corail account for this arrangement?","es":""},"explanation":{"fr":"","en":"When the repurchase price is equal to or greater than the original selling price and is more than the expected market value of the asset, the contract is in effect a financing arrangement (IFRS 15, para. B73). Here, 2,100,000 is higher than 2,000,000 and than the expected market value of 1,500,000 (estimate of the case). Navires Corail therefore continues to recognise the yacht, recognises a financial liability for the 2,000,000 received and recognises the difference of 100,000 from the amount to be paid as interest, and where applicable as processing or holding costs (IFRS 15, para. B68). No revenue is recognised.","es":""},"common_error":{"fr":"","en":"Recognising a sale although the entity must repurchase the asset, at the customer's request, at a price above the original price and above the expected market value.","es":""},"format":"SINGLE_CHOICE","options":[{"id":"A","text":{"fr":"","en":"As a sale with a right of return, since it is the customer that decides whether or not to request the repurchase.","es":""},"correct":false,"feedback":{"fr":"","en":"No: treatment as a sale with a right of return requires, in addition to the absence of a significant economic incentive, a repurchase price lower than or equal to the expected market value (IFRS 15, para. B74), which is not the case.","es":""}},{"id":"B","text":{"fr":"","en":"As a financing arrangement: the yacht remains an asset, a financial liability of EUR 2,000,000 is recognised and the difference of EUR 100,000 is treated as interest.","es":""},"correct":true},{"id":"C","text":{"fr":"","en":"As a lease in accordance with IFRS 16, because the customer has a significant economic incentive to request the repurchase.","es":""},"correct":false,"feedback":{"fr":"","en":"No: lease treatment applies to a repurchase price lower than the original selling price; here it is higher.","es":""}},{"id":"D","text":{"fr":"","en":"As a sale of EUR 2,000,000 with revenue recognised on delivery of the yacht, the repurchase clause being disclosed in the notes.","es":""},"correct":false,"feedback":{"fr":"","en":"No: in substance the customer does not obtain the yacht; the arrangement is a financing arrangement and no revenue is recognised.","es":""}}]},"scope":"CORE_STUDENT"}],"reviewTitles":{"LX.IFRS15.000001":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","LX.IFRS15.000002":"The IFRS 15 model: objective, five steps, vocabulary and scope — How to apply it: sorting in three questions","LX.IFRS15.000003":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","LX.IFRS15.000004":"The IFRS 15 model: objective, five steps, vocabulary and scope — No customer, no IFRS 15","LX.IFRS15.000005":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contract by contract, or by portfolio","LX.IFRS15.000006":"The IFRS 15 model: objective, five steps, vocabulary and scope — A contract partly within another standard","LX.IFRS15.000007":"The IFRS 15 model: objective, five steps, vocabulary and scope — How to apply it: sorting in three questions","LX.IFRS15.000008":"Step 1: identifying the contract and combining contracts — The five cumulative criteria","LX.IFRS15.000009":"Step 1: identifying the contract and combining contracts — Professional judgement: price concession or credit risk?","LX.IFRS15.000010":"Step 1: identifying the contract and combining contracts — What is a contract?","LX.IFRS15.000011":"Step 1: identifying the contract and combining contracts — Atelier Corvane's entries","LX.IFRS15.000012":"Step 1: identifying the contract and combining contracts — Contract term and wholly unperformed contract","LX.IFRS15.000013":"Step 1: identifying the contract and combining contracts — Reassessing the criteria? Only after a significant change","LX.IFRS15.000014":"Step 1: identifying the contract and combining contracts — Combining contracts","LX.IFRS15.000015":"Step 1: identifying the contract and combining contracts — Combining contracts","LX.IFRS15.000016":"Step 2: performance obligations and distinct goods or services — Distinct within the context of the contract: the three indicators","LX.IFRS15.000017":"Step 2: performance obligations and distinct goods or services — Combining until a distinct bundle is obtained","LX.IFRS15.000018":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","LX.IFRS15.000019":"Step 2: performance obligations and distinct goods or services — Set-up activities are not promises","LX.IFRS15.000020":"Step 2: performance obligations and distinct goods or services — The series of distinct goods or services","LX.IFRS15.000021":"Step 2: performance obligations and distinct goods or services — Distinct within the context of the contract: the three indicators","LX.IFRS15.000022":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","LX.IFRS15.000023":"Step 2: performance obligations and distinct goods or services — Points of attention","LX.IFRS15.000024":"Step 2: performance obligations and distinct goods or services — Professional judgement: significant integration or mere grouped delivery?","LX.IFRS15.000025":"Step 2: performance obligations and distinct goods or services — How to apply it: the four-stage approach","LX.IFRS15.000026":"Step 3: the transaction price and variable consideration — Two estimation methods: expected value or most likely amount","LX.IFRS15.000027":"Step 3: the transaction price and variable consideration — The constraint: include only what will not be reversed","LX.IFRS15.000028":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","LX.IFRS15.000029":"Step 3: the transaction price and variable consideration — The refund liability: what the entity will have to pay back","LX.IFRS15.000030":"Step 3: the transaction price and variable consideration — The Verdalis entries","LX.IFRS15.000031":"Step 3: the transaction price and variable consideration — Reassess at each reporting date","LX.IFRS15.000032":"Step 3: the transaction price and variable consideration — Recognising variable consideration","LX.IFRS15.000033":"Step 3: the transaction price and variable consideration — Two estimation methods: expected value or most likely amount","LX.IFRS15.000034":"Step 3: the transaction price and variable consideration — The constraint: include only what will not be reversed","LX.IFRS15.000035":"Step 3: the transaction price and variable consideration — Common mistakes","LX.IFRS15.000036":"Step 3: the transaction price and variable consideration — The refund liability: what the entity will have to pay back","LX.IFRS15.000037":"Step 3: the transaction price and variable consideration — Judging 'highly probable' and documenting it","LX.IFRS15.000038":"Step 3: the transaction price and variable consideration — Recognising variable consideration","LX.IFRS15.000039":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","LX.IFRS15.000040":"Step 3: the significant financing component — Numeric examples: deferred payment, advance payment, short period","LX.IFRS15.000041":"Step 3: the significant financing component — Numeric examples: deferred payment, advance payment, short period","LX.IFRS15.000042":"Step 3: the significant financing component — Which rate to use?","LX.IFRS15.000043":"Step 3: the significant financing component — The entries for both directions of financing","LX.IFRS15.000044":"Step 3: the significant financing component — The entries for both directions of financing","LX.IFRS15.000045":"Step 3: the significant financing component — The approach in five questions","LX.IFRS15.000046":"Step 3: the significant financing component — The one-year practical expedient","LX.IFRS15.000047":"Step 3: the significant financing component — Which rate to use?","LX.IFRS15.000048":"Step 3: the significant financing component — Common mistakes","LX.IFRS15.000049":"Step 3: the significant financing component — Financing or another reason? The areas of judgement","LX.IFRS15.000050":"Step 3: non-cash consideration and consideration payable to a customer — When non-cash consideration varies","LX.IFRS15.000051":"Step 3: non-cash consideration and consideration payable to a customer — Numeric examples: Datalpe and Fromageries Ardéval","LX.IFRS15.000052":"Step 3: non-cash consideration and consideration payable to a customer — When the customer provides a distinct good or service","LX.IFRS15.000053":"Step 3: non-cash consideration and consideration payable to a customer — The two decision trees","LX.IFRS15.000054":"Step 3: non-cash consideration and consideration payable to a customer — When to recognise the reduction?","LX.IFRS15.000055":"Step 3: non-cash consideration and consideration payable to a customer — Common mistakes","LX.IFRS15.000056":"Step 3: non-cash consideration and consideration payable to a customer — Goods or services contributed by the customer","LX.IFRS15.000057":"Step 3: non-cash consideration and consideration payable to a customer — The two decision trees","LX.IFRS15.000058":"Step 4 (1): allocating the price on stand-alone selling prices — Allocating proportionately, using prices set at contract inception","LX.IFRS15.000059":"Step 4 (1): allocating the price on stand-alone selling prices — Estimating a price that is not observable","LX.IFRS15.000060":"Step 4 (1): allocating the price on stand-alone selling prices — Estimating a price that is not observable","LX.IFRS15.000061":"Step 4 (1): allocating the price on stand-alone selling prices — Estimating a price that is not observable","LX.IFRS15.000062":"Step 4 (1): allocating the price on stand-alone selling prices — Numeric example: the Hydralis contract","LX.IFRS15.000063":"Step 4 (1): allocating the price on stand-alone selling prices — The entries for the Hydralis contract","LX.IFRS15.000064":"Step 4 (1): allocating the price on stand-alone selling prices — The entries for the Hydralis contract","LX.IFRS15.000065":"Step 4 (1): allocating the price on stand-alone selling prices — Estimating a price that is not observable","LX.IFRS15.000066":"Step 4 (1): allocating the price on stand-alone selling prices — Estimating a price that is not observable","LX.IFRS15.000067":"Step 4 (1): allocating the price on stand-alone selling prices — Common mistakes","LX.IFRS15.000068":"Step 4 (1): allocating the price on stand-alone selling prices — The stand-alone selling price: first, what can be observed","LX.IFRS15.000069":"Step 4 (1): allocating the price on stand-alone selling prices — Combining several methods","LX.IFRS15.000070":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","LX.IFRS15.000071":"Step 4 (2): discounts, allocated variable consideration and price changes — Reserving the discount for some obligations - three conditions","LX.IFRS15.000072":"Step 4 (2): discounts, allocated variable consideration and price changes — Variable consideration related to a single obligation","LX.IFRS15.000073":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","LX.IFRS15.000074":"Step 4 (2): discounts, allocated variable consideration and price changes — The catch-up entries","LX.IFRS15.000075":"Step 4 (2): discounts, allocated variable consideration and price changes — Reserving the discount for some obligations - three conditions","LX.IFRS15.000076":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","LX.IFRS15.000077":"Step 4 (2): discounts, allocated variable consideration and price changes — Common mistakes","LX.IFRS15.000078":"Step 4 (2): discounts, allocated variable consideration and price changes — Reserving the discount for some obligations - three conditions","LX.IFRS15.000079":"Step 4 (2): discounts, allocated variable consideration and price changes — Reserving the discount for some obligations - three conditions","LX.IFRS15.000080":"Step 4 (2): discounts, allocated variable consideration and price changes — Two decision trees","LX.IFRS15.000081":"Contract modifications — Treatment 1: a separate contract","LX.IFRS15.000082":"Contract modifications — Treatment 2: prospective (termination and new contract)","LX.IFRS15.000083":"Contract modifications — Treatment 3: the cumulative catch-up","LX.IFRS15.000084":"Contract modifications — The entries","LX.IFRS15.000085":"Contract modifications — The entries","LX.IFRS15.000086":"Contract modifications — A modification whose price has not yet been set","LX.IFRS15.000087":"Contract modifications — The three-question decision tree","LX.IFRS15.000088":"Contract modifications — Treatment 1: a separate contract","LX.IFRS15.000089":"Contract modifications — The three-question decision tree","LX.IFRS15.000090":"Contract modifications — Common mistakes","LX.IFRS15.000091":"Contract modifications — Treatment 2: prospective (termination and new contract)","LX.IFRS15.000092":"Contract modifications — Areas of judgement: 'adjusted' price, distinct goods, approval","LX.IFRS15.000093":"Contract modifications — When is there a modification? Approval","LX.IFRS15.000094":"Step 5 (1): control and recognition over time — How to apply it? A sequential grid","LX.IFRS15.000095":"Step 5 (1): control and recognition over time — Criterion (c), first limb: an asset with no alternative use to the entity","LX.IFRS15.000096":"Step 5 (1): control and recognition over time — Criterion (c), second limb: the enforceable right to payment","LX.IFRS15.000097":"Step 5 (1): control and recognition over time — Example: four contracts, four conclusions — including the Hydrobat plant","LX.IFRS15.000098":"Step 5 (1): control and recognition over time — Criterion (a): the customer consumes as the work is performed","LX.IFRS15.000099":"Step 5 (1): control and recognition over time — Criterion (c), first limb: an asset with no alternative use to the entity","LX.IFRS15.000100":"Step 5 (1): control and recognition over time — Criterion (c), second limb: the enforceable right to payment","LX.IFRS15.000101":"Step 5 (1): control and recognition over time — Control: directing and benefiting","LX.IFRS15.000102":"Step 5 (1): control and recognition over time — How to apply it? A sequential grid","LX.IFRS15.000103":"Step 5 (2): measuring progress — Input methods","LX.IFRS15.000104":"Step 5 (2): measuring progress — Revising estimates without restating the past","LX.IFRS15.000105":"Step 5 (2): measuring progress — Inputs to exclude: unexpected waste and uninstalled goods","LX.IFRS15.000106":"Step 5 (2): measuring progress — Inputs to exclude: unexpected waste and uninstalled goods","LX.IFRS15.000107":"Step 5 (2): measuring progress — When progress cannot yet be measured: revenue limited to costs","LX.IFRS15.000108":"Step 5 (2): measuring progress — The entries for progress","LX.IFRS15.000109":"Step 5 (2): measuring progress — The entries for progress","LX.IFRS15.000110":"Step 5 (2): measuring progress — Output methods","LX.IFRS15.000111":"Step 5 (2): measuring progress — The 'right to invoice' practical expedient","LX.IFRS15.000112":"Step 5 (2): measuring progress — Points of attention","LX.IFRS15.000113":"Step 5 (2): measuring progress — Professional judgement: does the method faithfully depict performance?","LX.IFRS15.000114":"Step 5 (2): measuring progress — Professional judgement: does the method faithfully depict performance?","LX.IFRS15.000115":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","LX.IFRS15.000116":"Step 5 (2): measuring progress — How to apply it? Five steps at each reporting date","LX.IFRS15.000117":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","LX.IFRS15.000118":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — How to apply it? A decision table","LX.IFRS15.000119":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Forward and call option: lease or financing","LX.IFRS15.000120":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The entries","LX.IFRS15.000121":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Consignment: the good travels, control stays","LX.IFRS15.000122":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Bill-and-hold: four cumulative criteria","LX.IFRS15.000123":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The customer's put option: it all depends on its incentive","LX.IFRS15.000124":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The acceptance clause: formality or real lock?","LX.IFRS15.000125":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Points of attention","LX.IFRS15.000126":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Bill-and-hold: four cumulative criteria","LX.IFRS15.000127":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The acceptance clause: formality or real lock?","LX.IFRS15.000128":"Costs to obtain and to fulfil a contract — Worked example: Nubéo's hosting contract","LX.IFRS15.000129":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","LX.IFRS15.000130":"Costs to obtain and to fulfil a contract — Impairment: a test specific to IFRS 15","LX.IFRS15.000131":"Costs to obtain and to fulfil a contract — Reversal: permitted, but capped","LX.IFRS15.000132":"Costs to obtain and to fulfil a contract — Nubéo's entries","LX.IFRS15.000133":"Costs to obtain and to fulfil a contract — Nubéo's entries","LX.IFRS15.000134":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","LX.IFRS15.000135":"Costs to obtain and to fulfil a contract — What can be capitalised, what stays in expense","LX.IFRS15.000136":"Costs to obtain and to fulfil a contract — The one-year practical expedient","LX.IFRS15.000137":"Costs to obtain and to fulfil a contract — Common mistakes","LX.IFRS15.000138":"Costs to obtain and to fulfil a contract — Judgment: the amortisation period and the anticipated renewal","LX.IFRS15.000139":"Contract balances and disclosures — Worked example: the Hydrobat contract balances","LX.IFRS15.000140":"Contract balances and disclosures — Performance obligations and the price still to be recognised","LX.IFRS15.000141":"Contract balances and disclosures — The Hydrobat contract entries and an advance","LX.IFRS15.000142":"Contract balances and disclosures — The receivable: a right that depends only on time","LX.IFRS15.000143":"Contract balances and disclosures — Contract asset and contract liability","LX.IFRS15.000144":"Contract balances and disclosures — Disclosures about contract balances","LX.IFRS15.000145":"Contract balances and disclosures — Common mistakes","LX.IFRS15.000146":"Contract balances and disclosures — Performance obligations and the price still to be recognised","LX.IFRS15.000147":"Contract balances and disclosures — Disaggregating revenue","LX.IFRS15.000148":"Sales with a right of return and warranties — Worked examples: Lunessa gift sets and Cargovel cargo bikes","LX.IFRS15.000149":"Sales with a right of return and warranties — Measuring the recovery asset and updating the estimates","LX.IFRS15.000150":"Sales with a right of return and warranties — Worked examples: Lunessa gift sets and Cargovel cargo bikes","LX.IFRS15.000151":"Sales with a right of return and warranties — Lunessa's and Cargovel's entries","LX.IFRS15.000152":"Sales with a right of return and warranties — Measuring the recovery asset and updating the estimates","LX.IFRS15.000153":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","LX.IFRS15.000154":"Sales with a right of return and warranties — Warranty: assurance of compliance or service?","LX.IFRS15.000155":"Sales with a right of return and warranties — Warranty: assurance of compliance or service?","LX.IFRS15.000156":"Sales with a right of return and warranties — Common mistakes","LX.IFRS15.000157":"Sales with a right of return and warranties — How to deal with a sale with a return right or a warranty?","LX.IFRS15.000158":"Sales with a right of return and warranties — The right of return: three amounts at the sale","LX.IFRS15.000159":"Principal or agent: who controls the good or service? — The three-step method","LX.IFRS15.000160":"Principal or agent: who controls the good or service? — The test: control before transfer","LX.IFRS15.000161":"Principal or agent: who controls the good or service? — Areas of judgement: platforms and integrated services","LX.IFRS15.000162":"Principal or agent: who controls the good or service? — The consequence: gross revenue or commission","LX.IFRS15.000163":"Principal or agent: who controls the good or service? — The consequence: gross revenue or commission","LX.IFRS15.000164":"Principal or agent: who controls the good or service? — The entries for one order","LX.IFRS15.000165":"Principal or agent: who controls the good or service? — The entries for one order","LX.IFRS15.000166":"Principal or agent: who controls the good or service? — The indicators of control","LX.IFRS15.000167":"Principal or agent: who controls the good or service? — The test: control before transfer","LX.IFRS15.000168":"Principal or agent: who controls the good or service? — Points to watch","LX.IFRS15.000169":"Principal or agent: who controls the good or service? — The test: control before transfer","LX.IFRS15.000170":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","LX.IFRS15.000171":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Measuring the option and allocating part of the price to it","LX.IFRS15.000172":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Worked example: Maréol points, gift cards and joining fees","LX.IFRS15.000173":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Worked example: Maréol points, gift cards and joining fees","LX.IFRS15.000174":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — When to recognise unexercised rights","LX.IFRS15.000175":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","LX.IFRS15.000176":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — When to recognise unexercised rights","LX.IFRS15.000177":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","LX.IFRS15.000178":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Non-refundable upfront fees","LX.IFRS15.000179":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Points to watch","LX.IFRS15.000180":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — When to recognise unexercised rights","LX.IFRS15.000181":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Renewals: a practical alternative","LX.IFRS15.000182":"Licences of intellectual property: right to access or right to use — When do the entity's activities significantly affect the intellectual property?","LX.IFRS15.000183":"Licences of intellectual property: right to access or right to use — Attributes of the licence: to be left out of the analysis","LX.IFRS15.000184":"Licences of intellectual property: right to access or right to use — Sales-based or usage-based royalties: the exception","LX.IFRS15.000185":"Licences of intellectual property: right to access or right to use — Worked example: the Crêpéa franchise and design software","LX.IFRS15.000186":"Licences of intellectual property: right to access or right to use — The consequence: over time or at a point in time","LX.IFRS15.000187":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","LX.IFRS15.000188":"Licences of intellectual property: right to access or right to use — Sales-based or usage-based royalties: the exception","LX.IFRS15.000189":"Licences of intellectual property: right to access or right to use — Points to watch","LX.IFRS15.000190":"Licences of intellectual property: right to access or right to use — The consequence: over time or at a point in time","LX.IFRS15.000191":"Licences of intellectual property: right to access or right to use — Second question: right to access or right to use?","LX.IFRS15.000192":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","LX.IFRS15.000193":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","LX.IFRS15.000194":"Step 3: the transaction price and variable consideration — The constraint: include only what will not be reversed","LX.IFRS15.000195":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","LX.IFRS15.000196":"Principal or agent: who controls the good or service? — The indicators of control","LX.IFRS15.000197":"Step 5 (1): control and recognition over time — Criterion (c), second limb: the enforceable right to payment","QST.IFRS15.000001":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000002":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000003":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000004":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000005":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000006":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000007":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000008":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000009":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000010":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000011":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000012":"The IFRS 15 model: objective, five steps, vocabulary and scope — The core principle","QST.IFRS15.000013":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000014":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000015":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000016":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000017":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000018":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000019":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000020":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000021":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000022":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000023":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000024":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000025":"The IFRS 15 model: objective, five steps, vocabulary and scope — Contracts excluded from the scope","QST.IFRS15.000026":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000027":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000028":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000029":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000030":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000031":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000032":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000033":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000034":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000035":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000036":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000037":"The IFRS 15 model: objective, five steps, vocabulary and scope — The essential vocabulary","QST.IFRS15.000038":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000039":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000040":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000041":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000042":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000043":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000044":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000045":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000046":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000047":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000048":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000049":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000050":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000051":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000054":"Step 1: identifying the contract and combining contracts — What is a contract?","QST.IFRS15.000055":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000056":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000057":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000058":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000059":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000060":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000061":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000062":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000063":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000064":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000065":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000066":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000067":"Contract modifications — When is there a modification? Approval","QST.IFRS15.000069":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000070":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000071":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000072":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000073":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000074":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000075":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000076":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000077":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000078":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000079":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000080":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000081":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000082":"Step 2: performance obligations and distinct goods or services — Promises, explicit and implicit","QST.IFRS15.000083":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000084":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000085":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000086":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000087":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000088":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000089":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000090":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000091":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000092":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000093":"Step 2: performance obligations and distinct goods or services — Distinct: two cumulative criteria","QST.IFRS15.000096":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000097":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000098":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000099":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000100":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000101":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000102":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000103":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000104":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000105":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000106":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000107":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000108":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000109":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000110":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000111":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000112":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000113":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000114":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000115":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000116":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000117":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000118":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000119":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000121":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000125":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000126":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000127":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000128":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000129":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000130":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000131":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000132":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000133":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000134":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000138":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000139":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000140":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000141":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000142":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000143":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000144":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000145":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000146":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000147":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000148":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000149":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000150":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000151":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000152":"Step 3: non-cash consideration and consideration payable to a customer — Non-cash consideration: fair value, otherwise the stand-alone selling price","QST.IFRS15.000153":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000154":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000155":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000156":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000157":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000158":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000159":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000160":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000161":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000162":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000163":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000164":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000165":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000166":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000167":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000168":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000169":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000170":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000171":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000172":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000173":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000174":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000175":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000176":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000177":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000178":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","QST.IFRS15.000179":"Step 3: the transaction price and variable consideration — The rule: what is the entity entitled to?","QST.IFRS15.000180":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","QST.IFRS15.000181":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000182":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000183":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","QST.IFRS15.000184":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000185":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000186":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000187":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000188":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000189":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000190":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000191":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000192":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000193":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000194":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000195":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000196":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000197":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000198":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000199":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000200":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000201":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000202":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000203":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000206":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000207":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000208":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000209":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000210":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000211":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000212":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000213":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000214":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000215":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000216":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The five indicators of the transfer of control","QST.IFRS15.000217":"Step 5 (1): control and recognition over time — Control: directing and benefiting","QST.IFRS15.000218":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000219":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000220":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000221":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000222":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000223":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000224":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000225":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000226":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000227":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000228":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000231":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000232":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000233":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000234":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000235":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000236":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000237":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000238":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000239":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000240":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000241":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000242":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000243":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000244":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000245":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000246":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000247":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000250":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000251":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000252":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000253":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000254":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000255":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000256":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000257":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000258":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000259":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000262":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000263":"Costs to obtain and to fulfil a contract — Amortisation: at the pace of transfer to the customer","QST.IFRS15.000264":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000265":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000266":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000267":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000268":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000269":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000270":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000275":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000276":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000277":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000278":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000279":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000280":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000281":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000282":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000283":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000284":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000285":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000286":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000287":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000288":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000289":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000290":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000291":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000292":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000293":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000294":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000295":"Costs to obtain and to fulfil a contract — Costs to obtain: only the incremental cost is capitalised","QST.IFRS15.000296":"Contract balances and disclosures — The disclosure objective","QST.IFRS15.000297":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000298":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000299":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000300":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000301":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000302":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000303":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000304":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000307":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000308":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000309":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000310":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000311":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000312":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000313":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000314":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000315":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000316":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000317":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000318":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000319":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000320":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000321":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000322":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000323":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000324":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000325":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000328":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000329":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000330":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000331":"Principal or agent: who controls the good or service? — Reasoning one specified good or service at a time","QST.IFRS15.000333":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000334":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000335":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000336":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000337":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000338":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000339":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000340":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000341":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000342":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000343":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000344":"Contract balances and disclosures — Contract asset and contract liability","QST.IFRS15.000345":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000346":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000347":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000348":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000349":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000350":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000351":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000354":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000355":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000356":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000357":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000358":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000359":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000360":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000361":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000362":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000363":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000364":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000365":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000366":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000368":"Licences of intellectual property: right to access or right to use — First question: is the licence distinct?","QST.IFRS15.000369":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000370":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000371":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000372":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000373":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000374":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000375":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000376":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000377":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000378":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000379":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000382":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The acceptance clause: formality or real lock?","QST.IFRS15.000383":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The acceptance clause: formality or real lock?","QST.IFRS15.000384":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The acceptance clause: formality or real lock?","QST.IFRS15.000385":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — The acceptance clause: formality or real lock?","QST.IFRS15.000386":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000387":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000388":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000389":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000390":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000391":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000392":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000393":"Step 1: identifying the contract and combining contracts — Combining contracts","QST.IFRS15.000394":"Step 3: the transaction price and variable consideration — Recognising variable consideration","QST.IFRS15.000395":"Step 3: the significant financing component — The rule: adjust for the time value of money","QST.IFRS15.000396":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000397":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","QST.IFRS15.000398":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","QST.IFRS15.000399":"Step 4 (2): discounts, allocated variable consideration and price changes — When the transaction price changes after inception","QST.IFRS15.000400":"Step 4 (2): discounts, allocated variable consideration and price changes — The discount: spread over all obligations by default","QST.IFRS15.000401":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000402":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000403":"Step 5 (2): measuring progress — The rule: one method per obligation, updated at each reporting date","QST.IFRS15.000404":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000405":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000406":"Sales with a right of return and warranties — The right of return: three amounts at the sale","QST.IFRS15.000407":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000408":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000409":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000410":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000411":"Step 4 (1): allocating the price on stand-alone selling prices — The allocation objective and the general rule","QST.IFRS15.000412":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000413":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000414":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000415":"Sales with a right of return and warranties — Exchanges and defective products: these are not returns","QST.IFRS15.000416":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Material right or marketing offer?","QST.IFRS15.000417":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000418":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000419":"Customer options and rights: loyalty, advance payments, unexercised rights, upfront fees — Advance payments: a contract liability","QST.IFRS15.000420":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms","QST.IFRS15.000421":"Step 5 (3): point in time, acceptance, repurchase, consignment, bill-and-hold — Repurchase agreements: three forms"}}