CERTYNEX IFRS ACADEMY

Brisol, a telecommunications operator, is considering applying IFRS 15 on a portfolio basis to its mobile subscriptions. Which statements are correct?

The expedient is mandatory as soon as the entity manages a large number of contracts.

The expedient may be applied to a portfolio of contracts or a portfolio of performance obligations with similar characteristics.

Brisol must reasonably expect an effect on the financial statements that does not differ materially from applying the standard contract by contract.

The expedient may be used even if the expected effect differs materially, provided the contracts are numerous.

The estimates and assumptions used must reflect the size and composition of the portfolio.