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  • 8. 3 Warranties - Viewpoint
    Management should assess the nature of the services provided to determine whether they are a separate performance obligation, or if there is simply an implied assurance-type warranty that extends beyond the contractual warranty period
  • Service type warranty Vs Assurance type warranty- Ind As 115 IFRS 15
    How you do you evaluate of the additional warranty provided is service type of assurance type
  • 5. 5 Warranties | DART – Deloitte Accounting Research Tool
    An entity should determine whether it offers the customer an assurance-type warranty or a service-type warranty An assurance-type warranty provides the customer with the peace of mind that the entity will fix or possibly replace a good or service if the original good or service was faulty
  • IFRS 15 warranties - CPDbox
    These warranties give rise to a separate performance obligation, because they provide additional service to the customer and they are accounted for under IFRS 15 Before you start accounting for warranties, you need to determine what type of warranty you have
  • Warranty Revenue Recognition: Assurance vs. Service
    Determine if your warranties are liabilities (Assurance) or deferred revenue (Service) under ASC 606 The recognition of revenue stemming from product warranties is an accounting challenge for manufacturers and retailers
  • 5. 6 Product Warranties | DART – Deloitte Accounting Research Tool
    Section 5 5 of Deloitte’s Roadmap Revenue Recognition discusses the determination of whether a warranty is an assurance-type warranty (and therefore outside the scope of ASC 606) or a service-type warranty (and is therefore accounted for as a performance obligation in accordance with ASC 606)
  • Warranty Costs Are Part of Selling Expenses Under GAAP
    Three factors help distinguish service-type from assurance-type: whether the warranty is required by law (suggests assurance), the length of the coverage period (longer coverage suggests service), and the nature of the tasks the company promises to perform 1
  • Accounting for Warranty – Definition, Types, Journal Entry, And More
    The extended warranty is a service agreement for the products’ repairs, maintenance, and service The extended warranties are called service-type warranties and are regulated under IFRS 15





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