CERTYNEX IFRS ACADEMY

Which of the following situations each constitute, on their own, a criterion for recognising revenue over time?

The customer paid a large advance on signature.

The customer simultaneously receives and consumes the benefits of the entity's performance as it performs.

Legal title to the good is transferred to the customer on delivery.

The performance creates or enhances an asset that the customer controls as it is created or enhanced.

The performance creates an asset with no alternative use to the entity, which has an enforceable right to payment for performance completed to date.