know the rules

The new 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 to be recognized over time or at a point in time,
  • Provides new and more detailed guidance on specific topics,
  • Expands and improves disclosures about revenue.

The Standard will impact all entities in all industries, but the extent of the impact can vary significantly.

Monday 17 August 2015