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IFRS 15 Application (SALE W/ RIGHT OF RETURN ([1]recognise (refund…
IFRS 15 Application
SALE W/ RIGHT OF RETURN
[2.1]customer returns
Dr refund liability, Cr debtor
Dr inventory, Cr right to recover asset
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NON-REFUNDABLE FEES
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if relates to Gs/Ss, assess via Step 2
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CONSIGNMENT AGREE.
deliver to another party, but you still control
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BILL + HOLD
bill customer, but keep product
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recog rev, still outstanding PO's .B82
CUSTOMER ACCEPTANCE
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can det control transferred, customer acceptance = formality
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REPURCHASE AGREE.
Put option .B70-76
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2.customer has sig. incentive, acc ito IFRS 16
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Fwd/Call Option .B66
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repurchase < OG price
a)IFRS 16 lease, unless Sale+Leaseback
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AMORT+IMPAIR
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when to impair.101
first impair ito other stds, then IFRS 15 .103