Recognition of revenue under IFRS 15

Mar 10, 2018
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Dear all,
I have an issue that I would like to ask you to state your views:
Contract for a license of intellectual property. Total contract value is 30m for 5 years (evenly distributed 6m p.a.). However the seller also must provide updates to customer for 7 years after the sell-in period of 5 years. In other words the whole contract period is 12 years. Price is fixed for the total period. How should seller recognise revenue in the books?

Thanks and regards.


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