Programme Overview
IFRS 15 replaced IAS 18 and IAS 11 with one five-step model for recognising revenue, applied the same way across every industry. This programme walks through each step and how to apply it to real contracts. Replaces IAS 18 & IAS 11. Effective 1 Jan 2018.
Why This Programme
- ✓Master the five-step revenue recognition model
- ✓Correctly identify performance obligations in a contract
- ✓Allocate transaction price across multiple obligations
- ✓Recognise revenue at the right point or over the right period
- ✓Handle common complications: variable consideration, contract modifications
- ✓Meet the disclosure requirements confidently
Assessment
- ✓Five-Step Model Exercise
- ✓Performance Obligation Case Study
- ✓Revenue Recognition Task
- ✓Final Review
Main Modules
- The Five-Step Model
The framework every revenue contract gets run through - Identifying Performance Obligations
Separating a contract into what's actually being promised - Allocating & Recognising the Price
Splitting the transaction price and recognising revenue correctly - Practical Application & Disclosures
Common complications, and what needs to be disclosed
Ready to Enrol?
Access the Virtual Learning Centre to register, or reach out and our team will get you started.