Overview
This module covers revenue recognition, inventory valuation, and government grant accounting, including the five-step revenue model, cost formulas, and grant recognition approaches. Topics include variable consideration, net realisable value, and deferred income method.
1. Revenue from contracts with customers (IFRS 15)
- Five-step model and contract identification
- Variable consideration and significant financing
- Principal vs agent and contract modifications
2. Inventories (IAS 2)
- Cost formulas and measurement (FIFO/weighted average)
- Net realisable value and write-down reversals
- Manufacturing overheads and cost of conversion