IFRS 15 Revenues from Contracts with Customers
Category : IFRS, Consolidation
Duration: 5 days
Synopsis
Learning Objectives
Training Program
Who Should Attend This Training
Prerequisities
This course focuses on the recognition and reporting of revenue from contracts with customers under IFRS 15. Participants will gain a thorough understanding of the five-step revenue recognition model, contract identification, performance obligations, and how to account for variable consideration. By the end of the program, participants will be able to apply IFRS 15 to complex contracts and ensure accurate revenue reporting.
Apply the five-step model for revenue recognition under IFRS 15
Identify performance obligations in contracts
Measure and recognize variable consideration
Ensure compliance with IFRS 15 in financial reporting
Introduction to IFRS 15
Overview of IFRS 15 and its importance
The five-step revenue recognition model
Contract identification and determining transaction prices
Quiz: Test your understanding of the five-step model
Identifying Performance Obligations
Identifying distinct goods or services in contracts
Allocating transaction prices to performance obligations
Practical case: Analyze performance obligations in a service contract
Variable Consideration and Revenue Recognition
Accounting for variable consideration: refunds, rebates, and incentives
Recognizing revenue when (or as) performance obligations are satisfied
Case study: Measure variable consideration in a multi-year contract
Presentation and Disclosure of Revenue
Presentation of revenue in financial statements
Disclosure requirements under IFRS 15
Practical case: Prepare a revenue disclosure for a contract with multiple performance obligations
Accountants and auditors
Financial analysts and controllers
Revenue recognition specialists
Finance managers involved in customer contracts
Basic understanding of revenue recognition principles
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PARIS
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