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IFRS 15: revenue from customer contracts
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.
Accounting for Revenue under IFRS 15
IFRS 15 Revenue from Contracts with Customers is the new Revenue Standard effective 1 January 2018. The Standard involves a 5 step model approach.
A new global standard on revenue – Manufacturing industry
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the manufacturing industry.
A new global standard on revenue – retail industry
Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the retail industry.
Grant Thornton grows global revenues to a record USD8 billion
Grant Thornton International Ltd today announced its global revenues grew to a record USD8 billion for the financial year ended 30 September 2024.
Grant Thornton grows global revenues by 13.7%* to USD7.2 billion
Grant Thornton International Ltd today announced its revenues grew to a record USD7.2 billion for the financial year ended 30 September 2022, up from USD6.6bn in 2021. This represents growth of 13.7% in constant currency terms*. All major service lines and regions achieved double-digit growth in constant currency during another challenging year in many markets.
Grant Thornton grows global revenues to a record USD8.5 billion
Grant Thornton International Ltd today announced record global revenues of USD8.5 billion for the financial year ended 30 September 2025.
Grant Thornton grows global revenues to a record USD7.5 billion
Grant Thornton International Ltd today announced its global revenues grew to a record USD7.5 billion for the financial year ended 30 September 2023.
Grant Thornton grows global revenues from USD5.8 billion to a record USD6.6 billion
Grant Thornton International Ltd today announced its revenues grew from USD5.8 billion to a record USD6.6 billion for the financial year ended 30 September 2021 (up 14.3%). Over half of Grant Thornton member firms globally achieved double-digit growth in constant currency terms* during a challenging year.
Mid-market companies lower growth expectations amid falling economic optimism
The overall picture is concerning. Compared with H2 2018, economic optimism, revenue expectations and profitability expectations are all down.