CERTYNEX IFRS ACADEMY

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?

It accounts for the whole contract under the other standard, since there are no separation requirements.

It applies IFRS 15 to separate and initially measure this component.

It freely sets the amount of the component, provided it documents it.

It applies IFRS 15 to the whole contract without separating anything, which amounts to the same thing.