AASB 15 Revenue from Contracts with Customers 22-30,Aus26.1: Identify every performance obligation at inception: each distinct good or service, or a series of substantially similar distinct items with the same transfer pattern, including implied promises

What does 22-30,Aus26.1 require?

At inception the entity reviews what it has promised and treats as a performance obligation each distinct good or service (or distinct bundle), and each series of distinct items that are substantially alike and pass to the customer in one pattern, meaning each would be satisfied over time and progress would be measured the same way. Promises can be implied by customary practice, published policies or specific statements that create a valid customer expectation, but administrative set-up tasks that transfer nothing to the customer are not performance obligations. Promised items range from goods produced or resold, tasks performed and stand-ready services to arranging for another party to deliver, rights to future goods, construction on the customer's behalf, licences and options carrying a material right. A good or service is distinct when the customer can benefit from it alone or with readily available resources and the promise is separately identifiable within the contract; significant integration, significant modification or customisation, and high interdependence point against separate identification. Items that are not distinct are combined until a distinct bundle emerges, which may be the whole contract. A not-for-profit public sector licensor applies Appendix G to licences it issues.