Document ID: chunk:federal_register_of_legislation:F2023C00402:front:0:p36
Version: federal_register_of_legislation:F2023C00402
Segment Type: other
Provision Reference: 
Character Range: 91317–94474

from equity participants.
performance obligation            A promise in a contract with a customer to transfer to the customer either:
                                  (a) a good or service (or a bundle of goods or services) that is distinct; or
                                  (b) a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer.
revenue                           Income arising in the course of an entity's ordinary activities.
stand-alone selling               The price at which an entity would sell a promised good or service separately to a customer.
price
(of a good or service)
transaction price
(for a contract with a customer)  The amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties.

Appendix A.1
Australian defined terms

This appendix is an integral part of AASB 15. The appendix applies only to not-for-profit public sector licensors.

short-term licence  A licence that has a term of 12 months or less.

Appendix B
Application guidance
This appendix is an integral part of AASB 15. It describes the application of paragraphs 1–129 and has the same authority as the other parts of AASB 15.
B1 This application guidance is organised into the following categories:
(a) performance obligations satisfied over time (paragraphs B2–B13);
(b) methods for measuring progress towards complete satisfaction of a performance obligation (paragraphs B14–B19);
(c) sale with a right of return (, B20–B27);
(d) warranties (paragraphs B28–B33);
(e) principal versus agent considerations (paragraphs B34–B38);
(f) customer options for additional goods or services (paragraphs B39–B43);
(g) customers' unexercised rights (paragraphs B44–B47);
(h) non-refundable upfront fees (and some related costs) (paragraphs B48–B51);
(i) licensing (paragraphs B52–B63B);
(j) repurchase agreements (paragraphs B64–B76);
(k) consignment arrangements (paragraphs B77–B78);
(l) bill-and-hold arrangements (paragraphs B79–B82);
(m) customer acceptance (paragraphs B83–B86); and
(n) disclosure of disaggregated revenue (paragraphs B87–B89).

Performance obligations satisfied over time
B2 In accordance with paragraph 35, a performance obligation is satisfied over time if one of the following criteria is met:
(a) the customer simultaneously receives and consumes the benefits provided by the entity's performance as the entity performs (see paragraphs B3–B4);
(b) the entity's performance creates or enhances an asset (for example, work in progress) that the customer controls as the asset is created or enhanced (see paragraph B5); or
(c) the entity's performance does not create an asset with an alternative use to the entity (see paragraphs B6–B8) and the entity has an enforceable right to payment for performance completed to date (see paragraphs B9–B13).

Simultaneous receipt and consumption of the benefits of the entity's performance (paragraph 35(a))
B3 For some types of performance obligations, the assessment of whether a customer