IFRS 15 Revenue from contracts with customers

Understand the five-step approach to the consideration of standard IFRS 15

Overview

According to IFRS 15, revenue depicts transfer of goods or services to customers in an amount that reflects the consideration that the entity expects to be entitled to, in exchange for those goods or services.

How can we define this consideration? How do we recognise revenue within one contract, if we sell a good and a service for one combined price? What amount is recognised as revenue if a customer can claim a refund three months after delivery?

This course explains the five-step approach in detail using practical examples and interim tests.

Learning outcomes
Additional information

You will learn:

the scope of IFRS 15 and the five step approach
the concept of contract with the customer, including situations of contract combination and contract modification
how to identify performance obligations in the contract
the transaction price and the effects of variable consideration, significant financing component, non-cash consideration
how to allocate the transaction price
the revenue recognition pattern at a point in time or over time.

Designed for finance and accounting experts who are familiar with fundamental (local) accounting and reporting processes.
Part of the IFRS e-learning series developed by PwC Academy.
CPD certificate is available upon successful completion of all courses.
12-month access.

Price

Price 30 GBP

Location

Global

Date & time

On demand

Book on ACCA Learning

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