AASB 15 Revenue Recognition using the Five-Step Model

Our AASB 15 Revenue Recognition summary below deals with customer contracts and evolving business models with the basis requiring organisations to consider:

  1. 合同是否存在;
  2. The explicit and implicit promises in the contract to deliver goods and/or services to a customer;
  3. 客户应支付的交易价款;
  4. How to allocate the transaction price to the goods and services; and
  5. When to recognise revenue based on when ‘control’ over the good or service transfers to a customer.


AASB 15 is the Australian 澳门赌场官网 Standard for revenue recognition from contracts with customers which introduced a comprehensive revenue recognition model aimed to enhance comparability across entities and industries.

The Standard should be applied to all contracts with customers, 其他标准规定的合同除外, 比如租赁, 保险及金融工具.

The AASB 15 Standard was introduced to harmonise with international reporting requirements, overcome weaknesses in the previous revenue standards, deliver more accurate commercial financial reporting and a single revenue recognition model for investors to understand and compare the revenue of different companies.

AASB 15 stipulates how and when revenue is recorded, requiring entities to provide users of financial statements with more information and reporting disclosures. Its core principle is the recognition of revenue for the transfer of goods or services, at a value that reflects the consideration to which the entity expects to be entitled, 作为履行履行义务的回报.


AASB 15 mandatorily applies to annual reporting periods beginning on or after 1 January 2018 and has had the most impact on businesses which involve:

  • 捆绑产品和服务;
  • 重要保证/退税;
  • Variability in revenue collectability from contract to contract;
  • Contracts where consideration varies; and
  • Renegotiation of scope/consideration of contracts.

The Five-Step Model to achieve AASB 15 requirements

This Standard establishes a five-stage model for entities to:

  1. 与客户确认合同
  2. Identify the performance obligations in the contract
  3. 确定交易价格
  4. Allocate the transaction price to the performance obligations
  5. Recognise revenue when (or as) the performance obligations are satisfied.

本质上, an entity should evaluate the probability of receiving consideration in exchange for the goods or services provided, taking into account the customers’ ability and intention to pay (including discounts, 退税, 退款, 价格优惠, 激励和绩效奖金).

The transaction price should be allocated to the performance obligations based on the proportion of their relative stand-alone prices. Stand-alone price is the price at which an entity will sell the promised good or service separately to a customer.

Costs to fulfil a contract with a customer that are not within the scope of any other Standard are allowed to be capitalised and amortised.


All entities reporting through general purpose financial statements should expect increased levels of disclosure.

根据AASB 15的披露目标, an entity must disclose sufficient information to enable users of financial statements to understand the nature, 量, timing and uncertainty of revenue and cash flows arising from contracts with customers.

Our financial reporting professionals assist many clients with the application of Australian 澳门赌场官网 Standards and please contact your local Accru advisor if you require any assistance in meeting your financial reporting obligations.

Steven Zabeti , Accru Felsers悉尼
Steven communicates with his clients regularly, offering business support and practical solutions. He’s known for building good 工作ing relationships and providing consistent professional service with an entrepreneurial flair that adds value to engagements.
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