IFRS 15 Revenue from Contracts with Customers is the new Revenue Standard effective 1 January 2018. The Standard involves a 5 step model approach.
This article highlights key aspects of IFRS 15 ’Revenue from Contracts with Customers’, that are expected to be particularly relevant during the COVID-19 pandemic.
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the construction industry.
As the International Accounting Standards Board (IASB) meets today (22 July 2015) to discuss the 2017 implementation date for new global revenue recognition rules, Grant Thornton is asking the accounting board to delay implementation, as a global business survey finds that many businesses are not expecting to be ready by 2017.
After more than five years in development the IASB and FASB have at last published their new, converged Standard on revenue recognition – IFRS 15 ‘Revenue from Contracts with Customers’. IFRS 15 replaces IAS 18 and IAS 11 and will affect almost every revenue-generating entity that applies IFRSs. We applaud the two Boards for delivering a converged Standard in this critical area.
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the software and cloud services industries.
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the manufacturing industry.
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the real estate industry.
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the life sciences industry.
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the retail industry.