AASB 15 Revenue from Contracts with Customers 2-4: Apply the core principle: recognise revenue as promised goods or services pass to the customer, at the consideration you expect, consistently across similar contracts, with the portfolio expedient available

What does 2-4 require?

The reporting entity recognises revenue in a way that shows goods or services being transferred to customers, measured at the consideration it expects to be entitled to for them. It reads the contract terms together with every relevant fact and circumstance, and it applies the Standard, practical expedients included, the same way to contracts that share characteristics in similar situations. The unit of account is the individual contract, but contracts, or performance obligations, that share characteristics may be grouped into a portfolio and accounted for together when the entity reasonably expects no material difference from contract-by-contract treatment; portfolio estimates and assumptions then reflect the portfolio's size and make-up.