Trade payables and other payables

IFRS 9.3.1.1 only specifies that a financial liability is recognized when the entity becomes party to the contractual provisions of the instrument. However, as outlined in IFRS 15.31, revenue, hence a receivable, is recognized when the customer obtains control of a good or service.

As accounting should be symmetrical, the customer will recognize a payable at the same instant, when it gains control over the good or service. 

This means the payable should be recognized on the date the good is received. However, common practice is to recognize the payable on the date on the invoice.