IFRS 15(新收入認列準則) 評估底稿範例及相關準則講義內容介紹

鄭宏輝 會計師

以下是我個人針對IFRS 15的評估底稿的撰寫範例，雖然用英文撰寫，但準則使用完全使用台灣所適用的國際會計準則IFRS 15號公報，在此給各位有興趣的財會專業人員參考之。

Memo

From:	Mingda CPA Firm	Date:	February XX, 2020
To:	Audit file for the year ending December 31, 2019– XXX CO. LTD. (the “Company”)
Subject:	Accounting Consultation Memo – Initial application of TFRS 15

1. Purpose

The purpose of this memo is to document Audit Engagement Team’s assessment of the Company’s and the Group’s accounting positions with regards to the initial application of TFRS 15.

2. Background

The Company was established under the Law of Taiwan on July 25, 20XX The Company mainly engages in the wholesale of frozen food.

Thai Financial Reporting Standard No.15 “Revenue from Contracts with Customers” (“TFRS 15”). It will supersede the following revenue Standards and Interpretations upon its effective date (2019/1/1)

The core principle of TFRS 15 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects to consideration to which the entity expects to be entitled in exchange for those goods or services. Specifically, the Standard introduces a 5-step approach to revenue recognition:

Step 1: Identify the contracts with a customer

Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price

Step 4: Allocate the transaction price to the performance obligations in the contract

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation

Under TFRS 15, an entity recognizes revenue when (or as) a performance obligation is satisfied, i.e. when ‘control’ of the goods or services underlying the particular performance obligation is transferred to the customer. Accounting policies which significantly changed are as follows:

Revenue from rental and rendering of service

Revenue from rental is recognized in the statements of profit and loss and other comprehensive income over time through-out service periods by based on a straight-line basis. Lease incentives granted are recognized as an integral part of the total rental income. Service income is recognized at the point in time when the services are rendered to the customer.

Revenue from arrangement under operating agreement

Revenue from the operation or service provided under the operating agreement is recognized in the statement of profit and loss and other comprehensive income over time because the customer receives and uses the benefits simultaneously.

Sale of goods

Revenue from sale of goods is recognized in the statement of profit or loss and other comprehensive income at the point in time when a customer obtains control of promised goods.

3. Client’s identification of impact arising from the initial application

Management has performed a detailed analysis of the requirements of TFRS 15 Revenue from Contracts with Customers, and has determined that there will be no material adjustments expected from the initial application.

Management has considered the following 5-step approach to revenue recognition:

The following table is the

Steps	Client’s analysis and conclusion
Identify the contract(s) with a customer	For big customer, the Company will sign formal sales contract with the customers. For the rest of customers, the company will signs the sales order with the rest of small customers.
Identify the performance obligations in the contract	The Company’s performance obligations in the contract with the customer is to transfer goods to the customers. Also, the customers could have the right to return defected goods and request sales rebate from the Company.
Determine the transaction price	The Company determines the transaction price based on its pricing policy.
Allocate the transaction price to the performance obligations in the contract	Since the sales return and allowance rate to sales of the Company is always below 2% of the sales, the amount is minor and the Company decides not to accrue such refund liability.
Recognise revenue when (or as) the entity satisfies a performance obligation	The Company recognise revenue when “control” of the goods underlying the particular performance obligation is transferred to the customer.

assessment of sales return and allowance refund

liability.

		2014	2015	2016	2017	2018	2019
(A)	Sales	66,957,439	285,153,108	491,564,861	546,383,147	564,109,742	633,709,516

(B)	Sales return	915,127	3,622,443	4,418,394	10,600,625	9,364,730	8,916,456
( C )	Sales allowance					267,343	2,604,994

(B+C)/A	RATE	1.37%	1.27%	0.90%	1.94%	1.71%	1.82%

Sales return of XXX CO. LTD. is the return of defected goods. Sales allowance is the sales rebate between XXX CO. LTD. and its customers.

Since the sales return and allowance to sales rate of XXX CO. LTD. is always below 2% of sales amount, XXX CO. LTD. didn't accrue the refund liability of sales return and allowance because the management thinks it's not material comparing to the whole finance performance.

Additional consideration of sales return and allowance are described below:

• How many performance obligation specify in the sale agreement? –all the customers have the right to return defected goods.

• What is lead time for sale return of each customer?—It’s not east to eastimate.

• Do sale return specify in the sale agreement? --Yes

• Do every customers have right to return the goods?--Yes

4Engagement Team’s assessment and conclusion

Engagement Team has reviewed Client’s identification of impact arising from the initial application of TFRS 15 .

Based on Engagement Team’s understanding of the Client’s business operations and revenue streams, Engagement Team is satisfied that the identified areas of impact are complete. There is no specific accounting issues arising to be addressed.