Performance obligations satisfied at a point in time

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In general, this means goods or services are handed over to the customer and the revenue may be recognised.

IFRS 15 includes indicators of when the transfer of control occurs in case of performance obligations satisfied at a point in time (IFRS 15.38).

IFRS 15 defines control of an asset (whether a good or a service) as the ability to direct the use of the asset (i.e. it has a present right) and to obtain substantially all of the remaining benefits of it (i.e. potential cash flows, whether inflows or savings in outflows, that can be obtained directly or indirectly by using, reselling, exchanging or holding the asset, or pledging it to secure a loan). Control includes the ability to prevent other entities from directing the use of, and obtaining the benefits from, an asset.

IFRS Synonyms:
Performance obligations at a point in time, at a point in time. control has passed, PO satisfied at a point in time, POs satisfied at a point in time