IFRS 15 Revenues from Contracts with Customers
Category : IFRS, Consolidation
Duration: 5 days
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.
Learning Objectives
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
Training Program
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
Key Points
Numerous practical examples illustrating the different studied concepts
Practical cases to draw parallels with the concepts learned
Who Should Attend This Training
Accountants and auditors
Financial analysts and controllers
Revenue recognition specialists
Finance managers involved in customer contracts
Prerequisities
Basic understanding of revenue recognition principles
Teaching Methods
Training structured around skill transfer
Acquisition of operational skills through practice and experimentation
Collaborative learning during synchronous sessions
Multi-stage learning path to allow engagement, learning, and transfer
Training promoting participant engagement for better anchoring of lessons
Satisfaction and Evaluation
Skill evaluation will be conducted throughout the training by the participant (self-evaluation) and/or the trainer according to the training methods.
Online training evaluation on your participant space:
Immediate evaluation at the end of the training to measure your satisfaction and perception of skill improvement against training objectives. With your agreement, your overall rating and comments will be published on our site via Verified Reviews.
Post-training evaluation 40 days later to validate the transfer of your acquired skills in the workplace
Attendance tracking and issuance of an individual training certificate or a certificate of completion
LONDON
128 City Road, EC1V 2NX London
PARIS
38 Rue Boulard, 75014, Paris