Ch 2 · Ind AS 115 — Revenue from Contracts with Customers

5 concept points · 3 formulas · 4 exam-critical points.

📘 Core concepts

• 15-step model: Identify contract → Identify POs → Determine transaction price → Allocate → Recognise.
• 2Performance obligation: distinct goods/services in contract.
• 3Transaction price: variable consideration, financing component, non-cash, payable to customer.
• 4Allocate based on stand-alone selling prices (SSP).
• 5Over-time recognition criteria (e.g., no alternative use + right to payment).