- You do not need to indicate any dates for the correcting joumal entrylentries. b) Discuss how the revenue recognition and measurement principles stipulatied in IFRS 15: Revenue from contracts with customers will affect the revenue amount. accounted for on the streaming services contracts for the financial year ended 31 March 2023. Please note: - Calculations are required. No marks will be awarded for calculations if the calculations are not supported by relevant discussions. Communication mark-logical argument c) Disclose the following notes to the annual financial statements of Todo Ltd for the financial year ended 31 March 2023: FAC3764 Assessment 10 QUESTION 1 (continued) Streaming services The streaming services were first advertised by Todo in December of 2022 whilst streaming services were launched nationally from 1 February 2023. To obtain access to Todo's streaming services a customer signs a 12-month contract, which meets the definition of identified contracts as per IFRS 15: Revenue from contracts with customers. A customer is liable to pay a monthly streaming subscription fee of R900, in advance on the first day of each month, to gain access to the streaming services of Todo for that particular month. After signing the abovementioned contract, a customer should inmediately purchase a decoder from Todo at a once-off fee of R1400. This decoder is highly specialised and is the only device that can decrypt the video stream into watchable content for the customer. In addition, it is only capable of decrypting the video stream of Todo, and not of any competitors. The decoder becomes the property of the customer once installed. To install the decoder at the customers' prem ises, Todo puts its customers in touch with third party technicians who pertorm the installation for a once off fee of R1 000. The technicians are not part of Todo and accounts are settled directly with the technicians. The decoder has a negligible resale value for the customer. Todo manufactures these decoders at a cost of R1 200 , each. Herewth information pertaining to the number of new customer contracts signed by Todo applicable to the streaming services, during the 2023 financial year: Todo activates the streaming services on the first day of the month following the signing of the 12-month contract Todo does not sell either the decoders or the streaming serwice separately. The CFO was concemed that you may never know when a customer will watch a program, as such, measuring "satisfaction of a pertormance obligation" is not possible. The CFO thus instructed the accountant to recognise all revenue on a cash basis. - You do not need to indicate any dates for the correcting joumal entrylentries. b) Discuss how the revenue recognition and measurement principles stipulatied in IFRS 15: Revenue from contracts with customers will affect the revenue amount. accounted for on the streaming services contracts for the financial year ended 31 March 2023. Please note: - Calculations are required. No marks will be awarded for calculations if the calculations are not supported by relevant discussions. Communication mark-logical argument c) Disclose the following notes to the annual financial statements of Todo Ltd for the financial year ended 31 March 2023: FAC3764 Assessment 10 QUESTION 1 (continued) Streaming services The streaming services were first advertised by Todo in December of 2022 whilst streaming services were launched nationally from 1 February 2023. To obtain access to Todo's streaming services a customer signs a 12-month contract, which meets the definition of identified contracts as per IFRS 15: Revenue from contracts with customers. A customer is liable to pay a monthly streaming subscription fee of R900, in advance on the first day of each month, to gain access to the streaming services of Todo for that particular month. After signing the abovementioned contract, a customer should inmediately purchase a decoder from Todo at a once-off fee of R1400. This decoder is highly specialised and is the only device that can decrypt the video stream into watchable content for the customer. In addition, it is only capable of decrypting the video stream of Todo, and not of any competitors. The decoder becomes the property of the customer once installed. To install the decoder at the customers' prem ises, Todo puts its customers in touch with third party technicians who pertorm the installation for a once off fee of R1 000. The technicians are not part of Todo and accounts are settled directly with the technicians. The decoder has a negligible resale value for the customer. Todo manufactures these decoders at a cost of R1 200 , each. Herewth information pertaining to the number of new customer contracts signed by Todo applicable to the streaming services, during the 2023 financial year: Todo activates the streaming services on the first day of the month following the signing of the 12-month contract Todo does not sell either the decoders or the streaming serwice separately. The CFO was concemed that you may never know when a customer will watch a program, as such, measuring "satisfaction of a pertormance obligation" is not possible. The CFO thus instructed the accountant to recognise all revenue on a cash basis