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IFRS for SMEs Module 23: Revenue Recognition from Contracts with Customers

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IFRS for SMEs Module 23 explains when and how a small or medium-sized entity should recognise revenue from contracts with customers.

In simple terms, it addresses the following question:

When has the business actually earned the revenue?

Revenue is the amount an entity expects to receive from providing goods or services to customers as part of its ordinary activities.

The Core Principle

Revenue should not be recognised merely because an invoice has been issued or cash has been received.

Instead, revenue is recognised when the entity fulfils its promise to the customer.

Module 23 applies a five-step approach.

The Five-Step Approach

1. Identify the Contract

A contract is an agreement that creates enforceable rights and obligations between the parties. It may be written, verbal or implied by customary business practices.

2. Identify the Promises in the Contract

The entity must determine what it has promised to provide.

The contract may include:

  • Goods;

  • Services; or

  • A combination of goods and services.

If the contract contains several promises, they may need to be accounted for separately.

3. Determine the Transaction Price

The transaction price is the amount the entity expects to receive in exchange for transferring the promised goods or services.

The assessment may need to take into account:

  • Discounts;

  • Bonuses;

  • Returns;

  • Refunds; and

  • Other variable amounts.

4. Allocate the Transaction Price

If a contract contains multiple promises, the total transaction price must be allocated to each promise on an appropriate basis.

This ensures that revenue is assigned fairly to the goods or services being provided.

5. Recognise Revenue When the Promise Is Fulfilled

Revenue is recognised when the customer obtains control of the promised goods or services.

Depending on the nature of the contract, this may occur:

  • At a single point in time; or

  • Over a period of time.

Transactions Outside the Scope of Module 23

Module 23 does not apply to certain transactions that are addressed by other sections of the IFRS for SMEs Accounting Standard, including:

  • Leases;

  • Insurance contracts;

  • Financial instruments, such as investments and loans; and

  • Certain non-monetary exchanges between entities in the same line of business.

What Is New in the Third Edition?

Under the third edition issued in 2025, Module 23 is aligned with IFRS 15 Revenue from Contracts with Customers.

The revised requirements replace the previous, simpler revenue recognition rules and provide a more consistent and comprehensive framework.

This helps revenue reporting better reflect the substance of transactions and provides users with clearer information about an entity’s performance and expected future cash flows.

Practical Guidance for Accountants

Accountants should:

  • Focus on the promises in the contract, rather than relying only on the invoice;

  • Read contracts carefully, as small clauses may affect the timing and amount of revenue recognised;

  • Pay particular attention to discounts, bonuses, returns, warranties and variable consideration;

  • Analyse long-term and bundled contracts carefully;

  • Apply professional judgement where estimates or complex arrangements are involved; and

  • Document the basis for significant judgements and estimates.

Revenue is not recognised simply when money is received. It is recognised when the entity fulfils its promise to the customer.

IFRS for SMEs 第 23 模块：来自客户合同的收入

IFRS for SMEs 第 23 模块说明中小型企业应在什么时候，以及如何确认来自客户合同的收入。

简单来说，它回答的是：

企业在什么时候才算真正赚取了这笔收入？

收入，是企业在日常经营活动中向客户提供商品或服务后，预期可以取得的金额。

核心原则

企业不应仅仅因为已经开出发票，或已经收到现金，就立即确认收入。

企业应当在履行对客户作出的承诺时确认收入。

第 23 模块采用五步法进行判断。

五步法

1. 识别合同

合同是指在交易双方之间产生可执行权利与义务的协议。

合同可以是：

  • 书面协议；

  • 口头协议；或

  • 根据企业惯常经营方式形成的默示协议。

2. 识别合同中的承诺

企业必须确定自己承诺向客户提供什么。

合同可能包括：

  • 商品；

  • 服务；或

  • 商品与服务的组合。

如果合同包含多项承诺，企业可能需要将这些承诺分别进行会计处理。

3. 确定交易价格

交易价格是企业预计因向客户转移所承诺的商品或服务而取得的金额。

在确定交易价格时，企业可能需要考虑：

  • 折扣；

  • 奖金；

  • 退货；

  • 退款；以及

  • 其他浮动金额。

4. 分摊交易价格

如果一份合同包含多项承诺，企业必须以适当的基础，将交易总价分摊至各项承诺。

这样可以确保收入合理地分配至企业所提供的不同商品或服务。

5. 在履行承诺时确认收入

当客户取得所承诺商品或服务的控制权时，企业才确认收入。

根据合同的性质，收入可能在以下情况下确认：

  • 某一个时间点；或

  • 一段时间内逐步确认。

不属于第 23 模块范围的交易

第 23 模块不适用于由 IFRS for SMEs 其他章节处理的部分交易，包括：

  • 租赁；

  • 保险合同；

  • 金融工具，例如投资及贷款；以及

  • 同一行业企业之间某些非货币性交换。

第三版有什么新变化？

2025 年发布的第三版中，第 23 模块已与 **IFRS 15《来自客户合同的收入》**接轨。

修订后的要求取代了过去较为简单的收入确认规则，并提供更加一致及完整的收入确认框架。

这有助于收入报告更真实地反映交易的经济实质，也让财务报表使用者更清楚了解企业的经营表现及预期未来现金流。

给会计人员的实务建议

会计人员应当：

  • 关注合同中的承诺，而不是只依赖发票；

  • 仔细阅读合同，因为其中一些细小条款可能影响收入确认的时间及金额；

  • 特别注意折扣、奖金、退货、质保及浮动对价；

  • 仔细分析长期合同及捆绑式合同；

  • 在面对估计或复杂安排时运用专业判断；以及

  • 清楚记录重大判断及估计的依据。

收入不是在收到钱时才确认，而是在企业完成对客户的承诺时确认。