The timing associated with the fulfillment of a performance obligation under IFRS 15 depends on whether the performance obligation is satisfied over time or at a point in time.

1. Over Time: An entity satisfies a performance obligation over time if any of the following conditions are met:

• • The customer simultaneously receives and consumes the benefits provided by the entity as the entity performs.
  • The entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced.
  • The entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.

1. At a Point in Time: If a performance obligation doesn’t meet the above criteria to be satisfied over time, it's considered to be satisfied at a point in time. The entity should recognize revenue when control of the distinct good or service is transferred to the customer, considering indicators such as the entity having a present right to payment, the customer having legal title to the asset, the entity having transferred physical possession of the asset, the customer having the significant risks and rewards of ownership, and the customer having accepted the asset.

These timeframes ensure that revenue is recognized in a manner that best depicts the transfer of promised goods or services to customers. This provides useful information to users of financial statements about the amount, timing, and uncertainty of revenue and cash flows from contracts with customers.