AASB 15 Revenue from Contracts with Customers 123-129: Disclose the significant judgements on timing and measurement, the methods, inputs and assumptions used, the judgements and amortisation method for contract cost assets with their balances and charges, and the practical expedients elected

What does 123-129 require?

The entity explains the judgements, and changes in them, that significantly affect the amount and timing of revenue: for over-time obligations the methods used and why they faithfully depict transfer, for point-in-time obligations the judgements on when control passes, and the methods, inputs and assumptions used to determine the transaction price (variable consideration, time value of money, non-cash consideration), to assess the constraint, to allocate (stand-alone selling prices, discounts, variable amounts) and to measure return and refund obligations. For contract cost assets it describes the judgements on the amounts capitalised and the amortisation method, and discloses closing balances by main category with the amortisation and impairment for the period. Use of the financing or incremental cost expedients is disclosed.