 Today's topic is revenue from contract with customer. So that is a very, very important one because the top line of income statement is the revenue. So now the question is how this revenue is going to be recognized. First of all, the learning outcomes after going through IFRS 15, students will be capable of understanding the five steps model in revenue recognition. There are five steps involved in revenue recognition. Students will be able to determine timing and amount of revenue. Students will be able to calculate various types of businesses revenue and how to present in the financial statements. Objective and scope. The entity shall apply to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from contract with a customer. Very important thing that the contract is the important thing in this question. What is basically the contract? Contract is basically agreement between buyer and seller. That's important. And three things are important that the seller will offer something and the buyer will accept the offer and then they discuss a consideration. That what amount they are going to be paid for the goods and services they are going to buy. Recognition and measuring of disclosing revenue arising from a contract with a customer that are not dealt with specifically any other IFRS. IFRS 15 applies to various revenues. Various means different types of revenues like a bank such as fees, commissions, other income and their may results from service loan, assets management, custody services, pension, administration, insurance brokerage, but are not limited to those. In one single business, you can see the number of ways they are generating revenue. So we are going to discuss each and every business, not basically in total, but still we have to discuss how the sale of goods rendering of services will be going to record it. The effective date of this standard is 1st of January 2018. Now, there are two important things here, definition, gross inflows of economic benefits during the period arising in course of those ordinary activities which inflows reserves in increasing the equity. Now, equity straight away, any transaction in a business affects the equity. So you are buying something, so at the end of the day you are receiving money, you are generating profits, so it goes to the equity straight away. But specifically other than increase relating to contribution from owners or equity participants. But if a businessman adding money into the business, that's not revenue. Otherwise, anything which added to the equity is revenue. Revenue refers to the gross amount of revenue and excludes amount collected on behalf of third parties such as taxes, another transaction where the entity is acting as an agent. That is again an important thing. You know, we are selling goods and we are recovering sale tax. So we are getting the money, but that is not our revenue because we are collecting on behalf of the government. So anything which we are collecting on behalf of somebody else, but it is there in the money, you are getting the money, but that is not the revenue. Revenues exclusively for the goods and services you render and which belongs to this seller. Thank you very much.