IFRS: Revenue Recognition

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IFRS 15: Revenue from Contracts with Customers has fundamentally revised the rules for how to recognise and report revenue in financial statements. This course will get you up-to-date with recent changes and what they mean for your organisation.

£100 +VAT

4 CPD hours

120 days’ access

Use ACPD101 for 10% off any purchase.

IFRS: Revenue Recognition

£100 +VAT

4 CPD hours 120 days’ access
Use ACPD101 for 10% off any purchase.

IFRS: Revenue Recognition

This course is not currently available. To find out more, please get in touch.

This course will enable you to

  • Learn the new provisions of IFRS 15
  • Understand each step of the five-step process for implementing IFRS 15
  • Recognise whether to capitalise costs when entering into a contract
  • Understand the disclosure requirements under the new standards
  • Know how to account for grants correctly under IAS 20

About the course

Revenue is a fundamental concept in accounting, but the rules for how to recognise and report it in financial statements have been fundamentally revised. IFRS 15 represents this major revision of the rules governing revenue from contracts with customers.

This course will get you up-to-date with recent changes and what they mean for your organisation. You will understand the key provisions of IFRS 15, the five-step process and other factors affecting the standard such as contract costs.

Contents

IFRS 15: A new Standard

All about revenue
Aims of IFRS 15 – Q&A
The need for a new Standard
Objectives of IFRS 15
IFRS 15 – The five-step process

Step 1: Contract recognition

What is a contract?
Step 1 – Q&A
Key elements of a contract

Step 2: Identify performance obligations

Step 2 – Q&A
What are performance obligations?
Over time or at a point in time?

Step 3: Determine transaction price

Step 3 – Q&A
Determining the transaction price
Devil in the detail: variations and adjustments

Step 4: Link price to performance

Step 4 – Q&A
Linking transaction prices to performance obligations
Estimation methodologies

Step 5: Recognise revenue

Recognising revenue
Step 5 – Q&A
Impact of IFRS 15 – Q&A

Contract costs

Capitalising contract costs
Amortisation of contract costs

Disclosures

Disclosure requirements

Government grants and assistance

Government grants – Q&A
Government grants and government assistance
Rules about accounting for grants
Devil in the detail: Government grants
Disclosure requirements

How it works

Author

Wayne Bartlett

Wayne Bartlett

Wayne is an internationally acclaimed speaker and trainer on all aspects of public and private sector accounting and auditing standards. He has been instrumental in helping to develop the profession internationally and has taken lead roles in the development of new professional bodies and the accounting profession in Mozambique and Rwanda, and been extensively involved in developing financial reporting in many countries across the globe.