It was a landmark achievement when the IASB broadly aligned its revenue recognition requirements to almost mirror what is required in the United States. The Standard that resulted was IFRS 15 ‘Revenue from Contracts with Customers’.
Nearly all businesses generate revenue, but accounting for it can in certain instances end up being a very complex task. IFRS 15 provided a major boost for investors looking to compare company performance across borders.
Our special edition newsletter on IFRS 15 explains all you need to know about accounting for revenue in accordance with the requirements set out in IFRS and what to be mindful of when apply this standard.
As well as telling you about the Standard in general terms, we also provide industry specific guidance for a number of different sectors.
For any further information please contact your local member firm.