CERTYNEX IFRS ACADEMY

Codexa grants a customer a distinct three-year licence over design software with significant stand-alone functionality, for a fixed price of EUR 360,000. Codexa has planned no updates and the customer expects no activities from it on the software (case data). The contract is signed on 15 December 20X1, the code is delivered on 20 December 20X1 and the licence period starts on 1 January 20X2. When does Codexa recognise the revenue of EUR 360,000?

Over time across the three years of the licence period, as the software is used.

On 15 December 20X1, when the contract is signed.

On 1 January 20X2, at the beginning of the period during which the customer can use the licence.

On 20 December 20X1, since the customer holds the code from that date and delivery of the code is enough to transfer the right to use.