IFRS 15 Revenue
Generating revenue is something every business does (or at least every business that gets off the ground!). However, accounting for it isn’t as straightforward as you might think. When should you account for revenue earned from a contract spanning multiple accounting periods, for example? Or, what happens if the customer has the right to a refund for the product being sold? In this course, we’ll answer these questions and more!
To properly account for revenue, it’s essential you know how to apply the provisions of IFRS 15 Revenue from Contracts with Customers, the major international accounting standard on this matter. We’ll take you step-by-step through this important standard so that you can ensure the company remains compliant, painting an accurate picture of its performance for users of the financial statement.
Provides 4 hours of CPD
What you’ll learn:
- The objectives and scope of IFRS 15 to provide you with a clear understanding of exactly what it does and doesn’t cover
- IFRS 15’s five key steps to revenue recognition so that, by the end, you can properly account for a company’s revenue
- How to apply correctly IFRS 15 when revenue from a contract is earned over multiple accounting periods
- How to deal with specific revenue recognition scenarios, such as consignment inventory, sale with right of return and warranties, so that you can account for each of these properly
- How to identify whether an organisation is the principal or agent in a contract – this difference is critical with respect to correctly recognising revenue!
Applying what you learn:
To solidify your understanding of IFRS 15, we’ve also provided a series of thorough test questions for you to complete alongside the course. With all this knowledge at your fingertips, you’ll soon be up-to-date on the best way to comply with revenue-related accounting standards.
What’s included in the course?
- Thoroughly explores the concepts, theories and models for this topic
- The content is professionally explained by our expert tutors alongside a visual presentation
- Come with downloadable audio files so you can listen to the content offline and on the go
- Full coverage of the video content using engaging and easy-to-follow language
- A range of examples to show you how these concepts might apply to real-life situations, e.g. in finance
- A practical exercise for each module based on the subject’s application in a finance team
- A series of questions designed to test your understanding of what you’ve learnt on the course
- Designed to get you to apply what you’ve learned to scenarios and commit the theory to memory
- The visual presentation from the video can be accessed for note-taking and for browsing alongside the video or audio download
- Can be viewed as still slides or in an interactive format to move around the screen
Purchasing the course
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IFRS 15 Revenue
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