AASB 15 Revenue from Contracts with Customers 17-21: Combine contracts entered together with one customer when they form one deal, and account for a modification as a separate contract, a termination plus new contract, or a cumulative catch-up as the facts dictate

What does 17-21 require?

Contracts signed with one customer (or its related parties) at about the same time are treated as one when they were negotiated as a package with one commercial aim, when the payment under one hinges on the pricing or delivery of another, or when their promised goods or services form a single performance obligation. A modification is an approved change in scope or price (or both) that creates or alters enforceable rights; an unapproved change is ignored until approved, and an approved scope change with an unsettled price is estimated under the variable consideration rules. A modification is a separate contract when it adds distinct goods or services priced at their stand-alone selling prices, adjusted for contract-specific factors. Otherwise, remaining goods or services that are distinct from those already transferred are treated as a termination and a new contract priced at the unrecognised consideration plus the modification consideration; remaining goods or services that are not distinct are folded into the partly satisfied obligation with a cumulative catch-up adjustment to revenue; a mixture is handled consistently with those objectives.