Which of the following are included in the scope of AASB 15/IFRS 15 Revenue from Contracts with Customers?
I. Insurance contracts.
II. Subscriptions.
III. Accounting for investments in associates.
IV. Accounting for share of joint venture revenue.
A) II only.
B) II and IV only.
C) I and IV only.
D) II and III only.

Question

Quizplus · Accepted Answer

Subscriptions are included in the scope of AASB 15/IFRS 15 as they represent contracts with customers to provide goods or services in exchange for consideration. Insurance contracts, investments in associates, and accounting for share of joint venture revenue are not covered by AASB 15/IFRS 15.

Which of the Following Are Included in the Scope of AASB