CERTYNEX IFRS ACADEMY

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?

The entity first applies the separation or measurement requirements of the other standard.

The entity first allocates the whole price to all components under IFRS 15, then applies the other standard.

The amount measured under the other standard is excluded from the transaction price within IFRS 15.

Any remaining price is allocated under the allocation requirements of IFRS 15 (paras 73 to 86).

The component within the other standard is included in the IFRS 15 performance obligations.