Referral and gift certificates treatment

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I'm trying to understand how my accounting system should operate under IFRS 15.

Our company has two types of clients, lets assume client "a" and client "b". We operate as an agent, and provide opportunity for client "b" to buy goods from our partners on our platform, where we take a commission as our Sales. For client "a" we want to introduce membership agreements, which will offer different referral fee percentage on trade executed for customer "b". For example if client "a" refer client "b" and client "b" buys something on the platform, then client "a" gets a gift certificate with the referral fee % agreed within his membership price.

Questions:  

  1. Will Sale be equal to membership sales and agent sales commissions? 
  2. Can we account gift certificate as COS for our agent sales commissions?
  3. Can we offer gift certificate for goods which we don't possess, as we act as an agent?
  4. Are there any regulations or standards that we may violate with this system?

Replies (3)

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By paul.benny
02nd Jul 2019 10:38

Yes, yes, yes, no.

Are you within scope of IFRS15? The fact that you need to ask these questions suggests not.

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Replying to paul.benny:
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By rekahiy
02nd Jul 2019 10:41

Thanks Paul! I think we do, yes. As we act as an agent and IFRS 15 clearly covers this stream of revenue, am I wrong?

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Replying to rekahiy:
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By paul.benny
02nd Jul 2019 10:50

Are you reporting under IFRS? Or FRS102?

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