Under IFRS, revenue for a product sale should occur when:

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According to IFRS, revenue for a product sale should occur when the seller has transferred to the buyer the risks and rewards of ownership and doesn't effectively manage or control the goods. This means that the buyer has taken on the significant risks and rewards of owning the goods, and the seller has no further involvement or control over the goods. This is often referred to as the point of delivery or passage of title. Inventory production being complete or the buyer paying installment amounts do not necessarily signify the transfer of risks and rewards of ownership, while warrantee fulfillment being unlikely is not relevant in determining revenue recognition.

Under IFRS, Revenue for a Product Sale Should Occur When