IFRS: revenue recognition
Get you up to date with recent changes and what they mean for your organisation.
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Course Type
E-learning
Length
3 - 5 hours
What you’ll achieve
- 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 this course
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.
Overview
E-learning |
|
3 - 5 hours |
|
IFRS |
Syllabus
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 to access
You will be directed to an external site to complete purchase and VAT will be applied at checkout.
