Collaboration Agreement Ifrs

In general, this definition aims to separate contracts with customers (under IFRS 15) from different cooperations or partnerships (outside the scope of IFRS 15). IFRS 15 does not contain guidance on the application of this distinction, as the IASB considers that it would not be possible to develop application guidelines that would apply uniformly to different sectors (IFRS 15.BC54). In most cases, there will be no difficulty in deciding whether a contracting party is a customer or not. However, for some contracts, companies must take due account of all relevant facts and circumstances. PARAGRAPH IFRS 15.BC54 contains examples of rules under which an entity should make such an assessment: PARAGRAPH IFRS 15.BC36 contains some interesting discussions about a contract in which the parties are not required to perform all their obligations, but are “essentially bound by the contract”. Such a contract still falls within the scope of IFRS 15. A customer is defined as a party who has entered into a contract with an enterprise to obtain goods or services that result from the normal business activity of the enterprise for remuneration (IFRS 15.6). Ordinary activities are not defined anywhere in IFRS. PARAGRAPH IFRS 15.BC45 provides that this assessment must take into account both performance (i.e. financial capacity) and the customer`s intention to pay. Note that it refers to consideration for goods or services that are actually transferred to the customer, that is.

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