Revenue – ifrs 15 handbook

11 Presentation
11.1 Statement of financial position
Contract asset and contract liability – Based on past performance ................................................................................ 300
Single contract asset or contract liability for contracts with multiple performance obligations ...................................... 300
Contract assets and contract liabilities for multiple contracts are not netted ................................................................. 301
Impairment assessment of contract assets for contracts with multiple performance obligations ................................. 301
Impairment assessment of contract assets when the consideration is variable ............................................................ 301
Classification as current vs non-current ......................................................................................................................... 302
Presentation of costs to obtain and costs to fulfil a contract in the statement of financial position ................................ 303
Receivable vs contract asset – Distinction based on unconditional right to consideration ............................................. 309
Receivable vs contract asset – Refund obligations do not impact the analysis .............................................................. 310
Milestone payments under over-time contracts ............................................................................................................ 310
Recognising a receivable when the consideration is variable .........................................................................................311
11.2 Statements of profit or loss and cash flows
Presenting ‘revenue from contracts with customers’ separately on the face of the statement of profit or loss is
not required ................................................................................................................................................................... 313

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362 | Revenue – IFRS 15 handbook
Interest income recognised from a significant financing component may be presented as ‘revenue’ but not
‘revenue from contracts with customers’...................................................................................................................... 313
Presentation of amortisation costs in the statement of profit or loss ............................................................................ 313
Classification of cash flows related to contract costs depends on the nature of the activity .......................................... 314