CERTYNEX IFRS ACADEMY

The contract assets and contract liabilities of the Xantis group changed significantly in 20X2. Which items are examples of expected explanations of these significant changes?

Changes due to a business combination.

Cumulative catch-up adjustments to revenue that affect the contract asset or contract liability.

The list of the names of customers that paid an advance during the year.

Impairment of contract assets.

Changes in the time frame for a right to become unconditional or for a performance obligation to be satisfied.

None: only the closing balance has to be disclosed, explaining the changes being optional.