Australia Unclaimed customer credits IFRS 15

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Jul 29, 2023
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Hi,
Under IFRS 15 the company could recognize unclaimed customer credits revenue based on two methods :
- remote when the credit expires
- based on usage pattern

would be a change from one method to another a change in accounting estimate or a change in accounting policy?
 
Joined
Sep 17, 2023
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I'm not an accountant, but based on what I know about IFRS 15, changing from one method of recognizing unclaimed customer credits revenue to another would likely be considered a change in accounting policy rather than a change in accounting estimate. This is because you're fundamentally changing the method used to recognize revenue, which impacts how your financials are presented.

That being said, any change in accounting policy typically requires retrospective application and disclosure, so make sure you consult with your accounting team or external auditors to get this sorted correctly. Cheers!
 

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