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
