Farley And Partners

Revenue Recognition

Offers a comprehensive review of the accounting rules pertaining to the recognition of various sources of revenue.

IAS 18: Revenue

  • Recognition of revenue from sale of goods, services, interest, royalties and dividends
  • Measurement of revenue from sale of goods, services, interest, royalties and dividends
  • Special considerations such as sale and repurchase agreements, consignment sales, customer loyalty programmes, packaged sales etc.

IAS 11: Construction Contracts

  • Cost-plus and fixed-price contracts
  • Measurement of contract revenue and contract costs
  • Revenue recognition methods, including the stage of completion method
  • Accounting treatment when the outcome of the contract cannot be estimated reliably
  • Agreements for the construction of real estate

IFRS 15: Revenue from Contracts with Customers

  • Background as to the replacement of all revenue-related standards by IFRS15
  • Study of the new 5-Step revenue recognition model
  • Identification of the performance obligations in a contract
  • Measurement of the transaction price
  • Recognition of revenue over time vs. a point in time
  • Special considerations such as warranties, repurchase options, principal vs agent, customer and licencing
Call Us For A Free Quote
error: