Evogene Ltd. | CIK:0001574565 | 3

  • Filed: 3/30/2018
  • Entity registrant name: Evogene Ltd. (CIK: 0001574565)
  • Generator: GoXBRL
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1574565/000117891318001042/0001178913-18-001042-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1574565/000117891318001042/evgn-20171231.xml
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  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001574565
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    • ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue

    j.
    Revenue recognition:

    Revenues are recognized in profit or loss when the revenues can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the Company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenues are measured at the fair value of the consideration received.

    The following are the specific revenue recognition criteria which must be met before revenue is recognized:

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    Revenues from agreements that do not contain a general right of return and are composed of multiple elements such as license, services, royalties and milestone events are allocated to the different elements and are recognized in respect of each element separately. An element constitutes a separate accounting unit if and only if it has a separate value to the customer. Revenue from each element is recognized when the criteria for revenue recognition have been met and only to the extent of the consideration that is not contingent upon completion or performance of future services in the contract.

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    Revenues from research and development services as part of the Company's collaboration agreements are recognized as service revenues. Recognition of the service is throughout the services period and is determined based on the proportion of actual costs incurred for each reporting period to the estimated total costs, subject to the enforceable rights.

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    Revenues from milestone events stipulated in the agreements are recognized upon the occurrence of a substantive element specified in the agreement.

    Deferred revenues and other advances:

    Deferred revenues and other advances are unearned amounts including up-front payments received from customers not yet recognized as revenues. Up-front payments received upon entering into the collaboration agreements are initially deferred when received and then recognized as service revenues over the duration of the relevant contract based on the proportion of actual costs incurred for each reporting period to the estimated total costs of the collaboration.