CERTYNEX IFRS ACADEMY

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?

No specific information: the amount is simply included in total revenue for 20X2.

It presents it as revenue from sources other than contracts with customers, since the structure is completed.

It includes it in revenue of the period that was included in the opening contract liability.

It discloses it as revenue of the period from a performance obligation satisfied in a previous period.