Question: A software developer enters into a contract with a customer to transfer a software licence, perform an installation service and provide unspecified software updates and

A software developer enters into a contract with a customer to transfer a software licence, perform an installation service and provide unspecified software updates and technical support (online and telephone) for a 2-year period. The company sells the licence, installation service and technical support separately. As part of the installation service, the software is to be substantially customised to enable it to interface with other customised software applications used by the customer. The customised installation service can be provided by other companies. LO6 Required:

Explain what performance obligations would be identified in this contract according to IFRS 15 Revenue from Contracts with Customers.

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