AASB 15 Revenue from Contracts with Customers G11-G27: Not-for-profit public sector licensors: apply the intellectual property guidance to IP licences, treat non-IP licences as rights to access or use the licensor's assets or rights, and use the short-term and low-value reliefs by class

What does G11-G27 require?

Licences over intellectual property follow paragraphs B52 to B63B, with judgement on what counts as intellectual property, including rights arising from research. Non-IP licences, such as rights to use public land, airspace, spectrum or to conduct an activity, are analysed by identifying the customer (the licensee), the good or service transferred (a right to access or use the licensor's non-financial asset or a right to undertake an activity) and the performance obligations, excluding the licensor's regulatory and administrative activities that transfer nothing to the licensee; a non-IP licence is distinct unless it is highly interrelated with other promised goods or services, and if not distinct it is combined with them. Revenue on a distinct non-IP licence is recognised over the licence period where the licensee receives the benefit as the licensor performs, and at a point in time otherwise. The licensor may apply the short-term and low-value reliefs in Aus8.1 to Aus8.5 (driver, marriage and working-with-children licences are the Standard's examples of low-value licences; a low-value classification depends on the fee, not on whether volumes are large) but not to licences with variable consideration.