Document ID: chunk:federal_register_of_legislation:F2023C00402:front:0:p95
Version: federal_register_of_legislation:F2023C00402
Segment Type: other
Provision Reference: 
Character Range: 249796–252742

the upfront payment of $100 million includes the maintenance services.

    Applying the accounting framework for licences issued by not-for-profit public sector licensors

    Licensor concludes on the same basis as Example 8A that its arrangement to issue a non-IP licence to Licensee is not a tax, is not a low-value or short-term licence, is not an IP licence and is not a lease or does not contain a lease.

    Identifying the performance obligation

    Licensor concludes on the same basis as Example 8A that Licensee is the customer, and identifies the issue of the licence (the right to perform) as a performance obligation.

    Applying paragraphs 22 and G15–G20, Licensor concludes there are two distinct performance obligations to:

                    issue the licence; and

                    provide a series of maintenance services.

    The promise to perform maintenance services on the gaming machines transfers a series of services that are substantially the same and have the same pattern of transfer to Licensee and in accordance with paragraph 27 this service is distinct from granting the licence to operate a casino, as:

       (a) Licensee can benefit from the service either on its own or together with other resources that are readily available to Licensee (paragraph 28) – if Licensor were not providing this service to Licensee, Licensee would be reasonably expected to obtain such services from a third party to ensure machines are operating at capacity to generate maximum revenue; and

       (b) Licensor's promise to transfer the good or service to Licensee is separately identifiable from other promises in the arrangement (paragraph 29) as:

          (i) the maintenance services are not integral to the issue of the casino licence;

          (ii) the maintenance services do not modify the rights provided by the licence; and

          (iii) the nature of Licensor's promise is to transfer the maintenance services separately to the issue of the casino licence.

    Licensor does not identify any remaining promises to transfer a good or service to Licensee in the arrangement that are distinct from the licence and the maintenance services.

Compilation details
Accounting Standard AASB 15 Revenue from Contracts with Customers (as amended)
Compilation details are not part of AASB 15.
This compiled Standard applies to annual periods beginning on or after 1 January 2023 but before 1 July 2026. It takes into account amendments up to and including 15 December 2022 and was prepared on 6 April 2023 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB. Instead, it is a representation of AASB 15 (December 2014) as amended by other Accounting Standards, which are listed in the table below.

Table of Standards
Standard     Date made    FRL identifier  Commence-ment date  Effective date          Application,