Why you should follow this course
Learn the new five step revenue recognition model.
Highlight the impact of the new standard on particular industries such as software, hardware, construction, manufacturing, retail and service industries.
Determine when revenue shall be recognised at a point in time or over a period of time?
Determine when revenue recognition be accelerated or deferred?
Identify areas where key new estimates and judgements that are required.
Start thinking on changes to IT systems, tax planning, accounting process business contracting, internal controls as well as staff incentive plans that need to be well planned and acted upon in advance of the new standard's effective date.
with the different transitional approaches offered by IFRS 15.
Application of the new standard is mandatory for periods
beginning on or after 1 January 2017 2018 with early application
permitted. EFRAG has already published its draft endorsement
advice letter on IFRS 15 and full endorsement by the EU is
expected before the effective date.