Reference no: EM133004350
BCE Inc. and TELUS Corporation
Access the financial statements of both BCE Inc. and TELUS Corporation for their years ended December 31, 2020, from either the companies' websites or SEDAR.
Instructions
Problem 1: What types of revenue does BCE have and when are they recognized?
Problem 2: What types of revenue does TELUS have and when are they recognized
Problem 3: Are there any examples of when either company would report revenue on a net basis? What factors does the company consider?
Problem 4: Explain the types of contracts where the companies have multiple deliverables. How does each company allocate the revenues on these types of contracts?
Problem 4: TELUS has a unique accounting policy for dealing with revenues in non-high-cost serving areas.
Review the accounting policy note as well as Note 6 for details. Explain the business reason forthe transaction and comment on the appropriateness of the accounting.
Problem 5: Do you find one company's disclosure on revenue recognition better than the other's?Comment.
Problem 6: Does either company address IFRS 15 Revenue from Contracts with Customers, issued in 2020but with a 2017 effective date? Comment. (Note that the mandatory adoption date is now 2018).
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