Public Governance, Performance and Accountability (Financial Reporting) Rule 2015
34CContracts with customers
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34C Contracts with customers
Guide to this section
The purpose of this section is to require reporting entities to disclose:
(a) revenue recognised from contracts with customers; and
(b) impairment losses recognised on any receivables or contract assets arising from contracts with customers.
(1) A reporting entity must disclose all of the following amounts separately from other items for the reporting period: (a) revenue recognised from the entity’s contracts with customers; (b) any impairment losses (recognised in accordance with AASB 9 Financial Instruments) on any receivables or contract assets arising from the entity’s contracts with customers. (2) The amounts must be disclosed in the reporting entity’s statement of comprehensive income or other disclosure document.