AC2101 S1 2014 Seminar 20 Revenue.pptx

E the customer can benet and distinct in the context

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Unformatted text preview: ervice differs from other goods/services; and *  A good or service is distinct, i.e. if either : *  The entity regularly sells the good or service separately; or *  The customer can benefit from the good or service on its own or together with other readily available resources 11 Step 2: Identify the separate performance obligation(s) *  A good or service that is part of a bundle of goods or services is not distinct if both: *  The goods or services are highly interrelated and the contract requires the entity to provide a significant service to “integrate” them into items for which the customer has contracted *  The bundle of goods or services is significantly modified or customised to fulfil the contract 12 6 Step 2: Identify the separate performance obligation(s) *  Staff Paper *  A good or service is distinct if it is *  capable of being distinct (i.e. the customer can benefit); and *  distinct in the context of...
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This document was uploaded on 02/10/2014.

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