AASB15: A Case Study

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Initially, Deloitte (2015) states that under AASB15’s criteria, it is essential for entities to substitute their policies and control procedures for collaborative judgements. Correspondingly, Telstra’s bundled mobile contract findings based on previous practices were formulated on the classification of goods/service, however recent practices categorise it based on performance obligations. Complementary, companies such as Telstra undergo continual amendments for instance when alternating the amount of data usage or minutes utilised, judgements formed, hence guidance from AASB 15:20 distinguishes whether contract adjustments should be retrospectively (backdated) or prospectively (future) accounted for. Conversely, this may result in a logistical
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