Care to point to the paragraphs in AASB 118 (the old revenue standard) which permits entities to recognise revenue without having a contract with a customer? I’ll help you out... here is the accounting standard:
http://www.aasb.gov.au/admin/file/content105/c9/AASB118_07-04_COMPoct10_01-11.pdf
The fundamental definition of what is revenue hasn’t changed with the new standard. There may be differences with in timing of revenue recognition and slight differences on measurement. So for every other company that has reported differences the restatement impacts Revenue and Deferred Income, not Revenue and Borrowings.
I also note that whilst they have adopted the new standard, they’re missing the new disclosure requirements of the new standard. There should be a disaggregation of revenue into categories based on how they are impacted by economic factors, ie geography or type of customer. It’s almost as if they don’t understand the accounting standards.