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

📘 Core concepts

1. 15-step model: Identify contract → Identify POs → Determine transaction price → Allocate → Recognise.
2. 2Performance obligation: distinct goods/services in contract.
3. 3Transaction price: variable consideration, financing component, non-cash, payable to customer.
4. 4Allocate based on stand-alone selling prices (SSP).
5. 5Over-time recognition criteria (e.g., no alternative use + right to payment).