Course description
IFRS 15 Revenue provides a single comprehensive and robust framework to the recognition and measurement of revenue by applying a five-step model to nearly all contracts with customers.
Presented by IFRS specialist and experienced accountancy trainer Clare Jones, this webinar will detail the five-step model for recognising revenue, highlighting challenges in application and feedback from the FRC. It will cover the disclosure requirements in the financial statements and the wider issues for entities.
Clare will discuss identifying separate performance obligations, the accounting treatment for contract costs, the challenges in applying the five-step model due to current market conditions, plus much more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
IFRS 15 Revenue provides a single comprehensive and robust framework to the recognition and measurement of revenue by applying a five-step model to nearly all contracts with customers.
This webinar will detail the five-step model for recognising revenue highlighting challenges in application and feedback from the FRC. It will cover the disclosure requirements in the financial statements and the wider issues for entities.
Using illustrative and real-life examples this webinar is ideal for accountants, auditors and other professionals involved in revenue recognition accounting and policies.
What You Will Learn
This webinar will cover the following:
- Applying the five-step model to revenue contracts with customers
- Identifying separate performance obligations
- Identifying and measuring any variable consideration in the transaction price
- Allocating the transaction price to the separate performance obligations identified on a reasonable basis
- When to recognise revenue for financial reporting purposes
- An overview of the disclosure requirements providing users with useful information, using real-life examples
- The challenges in applying the five-step model due to current market conditions
- The accounting treatment for contract costs
- A summary of the key findings from the FRC Thematic Review
Expenses
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