33 Goods and services are assets, even if only momentarily, when they are received
and used (as in the case of many services). Control of an asset refers to the ability
IFRS 15
A690 IFRS Foundation
to direct the use of, and obtain substantially all of the remaining benefits from,
the asset[G]. Control includes the ability to prevent other entities from directing
the use of, and obtaining the benefits from, an asset. The benefits of an asset are
the potential cash flows (inflows or savings in outflows) that can be obtained
directly or indirectly in many ways, such as by:
(a) using the asset to produce goods or provide