article banner

Special Edition on Revenue: September issue

A shift in the top line – the new global revenue standard is here at last

The IASB has published IFRS 15 ‘Revenue from Contracts with Customers’.

IFRS 15:

  • replaces IAS 18 ‘Revenue’, IAS 11 ‘Construction Contracts’ and some revenue-related Interpretations
  • establishes a new control-based revenue recognition model
  • changes the basis for deciding whether revenue is recognised at a point in time or over time
  • provides new and more detailed guidance on specific topics
  • expands and improves disclosures about revenue.

We have covered the introduction and scope of IFRS 15 in the July 2014 issue, and the details of Five Steps of Revenue Recognition under IFRS 15 were discussed in the August 2014 issue.

In this issue, we will present to you the other topics relevant to IFRS 15, namely:

  • Contact costs
  • Warranties
  • Licensing
  • Rights of return and repurchase obligations
  • Presentation and disclosures
  • Effective date and transition


View full publication here: 

Special Edition