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Module 3 : Revenue, presentation and profitIFRS 1 5 Revenue from Contracts with CustomersExample 1 : Revenue from contracts with customersLingard Co sells a cable

Module 3: Revenue, presentation and profitIFRS 15 Revenue from Contracts with CustomersExample 1: Revenue from contracts with customersLingard Co sells a cable TV system to Monica under the following terms on 1 January 20X5:Monica has to pay a monthly fee of $80 for 12 months. Monica receives a cable TV set top box and access to all the TV channels.The contract does not contain any other conditions and, once signed, the receipt of the consideration is unconditional.Lingard Co sells the set top box by itself for $250 and charges monthly access to the TV service without the set top box for $65 a month.What amount of revenue should Lingard Co recognise in the year ended 31 March 20X5?

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