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IFRS 15 - Revenue from Contracts Workshop



This activity is presented by PwC.

This half day intensive session will delve into the fundamental changes to revenue recognition accounting brought about by IFRS 15. The standard could significantly change how many entities recognise revenue, especially those that currently apply industry-specific guidance. The impact of this new standard on organisations may be significant, especially with the potential for revenue to be deferred but any organisation that provides products or services will need to consider the implications.

PLEASE NOTE: MINIMUM REGISTRATIONS ARE REQUIRED FOR THIS COURSE TO PROCEED

Content Description

The following are some of the areas that will be covered during the IFRS 15 workshops:
• The five step revenue recognition model, including when to recognise revenue, when transfer of control occurs, and satisfaction of performance obligations.
• The nature of disclosures requirements related to revenue.
• The pervasive business and accounting impact across all industries.
• The challenges for companies such as assessing whether or not systems, processes and internal controls are ready to capture the data needed for forming and monitoring new estimates.
• Practical implications and preparation for adoption.

Learning Outcomes

Upon satisfactory completion of this activity delegates will be able to:
• Explain the fundamental requirements of IFRS 15, including key changes from previous guidance.
• Identify the common challengers and pitfalls when applying the requirements of IFRS 15.
• Identify the frequently asked questions raised by companies and auditors regarding implementation to date.
• Explain key disclosure and transition requirements.
• Use relevant case studies and scenarios to understand how the requirements should be applied and how it is likely to affect the way you do business.
• Identify the impact on commercial arrangements when interpreting the requirements of the standard and the resulting accounting outcomes.
Identify the new systems, business process and controls required for implementation.

Benefits

Benefit from detailed case studies, practical insights and frequently asked questions on implementation issues around IFRS 15, which should enable you to effectively implement the new requirements. It will also provide an opportunity to network and with presenters and like-minded professionals.

This activity is presented by PwC.

For more information on other IFRS Workshops, please see links below:
IFRS 16 - Leases
IFRS 9 - Financial Instruments
PwC

EVENT DETAILS


Topic: Reporting

Sub-Topic: Financial Reporting

Format: Workshop

Proficiency Level: Intermediate, Advanced

CPD: 4 hours