Tutorial question –IAS32 & IAS37 ABC entered a pre-sale contract with an investor who is entitled to a 10% discount on t

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Tutorial question –IAS32 & IAS37
ABC entered a pre-sale contract with aninvestor who is entitled to a 10% discount on the token price atthe Initial Coin Offering (ICO). On 1 March 2021. This investorpaid ABC RM500,000 in cash. The ICO was issued on 30 April 2021.The cash is refundable if the ICO failed before 30 April 2021 sincethe minimum funding sum of RM4.5millionhas yet to achieve.
Immediately after the tokens are issued, ICOinvestors can readily change them into cryptocurrencies or cash viaABC's platform. This platform supports the purchase and sale oftokens, but it does not entitle the holder to future goods orservices from ABC.ABC used the inflow received from the sale oftokens to finance the future development of the payment platformand other projects.
To increase the ICO investment, ABCcommitted to the token holders to make one payment of 10% of anyannual profit for the year ended 31 March 2022. The holders do notentitle to any other rights such as redemption of their tokens orany residual interest in ABC’s assets.
On 30 April 2021, ABC raised RM5 million forthe ICO.
You are required to:
(a) propose how to account for the RM500,000 in the ABC’sfinancial statement for the year ended 31 March 2021, and
(b) propose how to account for the RM5 million in the ABC’sfinancial statement for the year ended 31 March 2022.
Format:
1.Brief relevant discussion on: Key definition, Recognition,Measurement & Disclosure/Presentation of IAS32 & IAS37.
2. Propose how ABC can account for the above transactions inaccordance with the above IASs.
Sir/Madam, I was confused about this tutorial question, may uguide me? Thank you very much. So much！