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IFRS: Income, Revenue and Revenue Recognition – eLearning

This activity is published by accountingcpd.

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As well as helping you to make sound judgements in general on revenue and revenue recognition, this course will also enable you to apply the detailed rules in particular situations, such as accounting for construction contracts and government grants.
Content Description:
The concept of income is crucial to the entity's financial performance, and is half of determining an organisation's profitability.

The treatment of ‘revenue’ is particularly important when recognising income; revenue being income that is derived from an organisation's everyday operating activities. Revenue recognition is a hot topic as the amounts involved are often large and have a significant impact on the overall profitability or otherwise of an entity.

Upon satisfactory completion of this activity you will be able to:
Understand the basic foundation of the principles of how to deal with income.
Recognise revenue and other forms of income in the financial statements.
Understand the basics of IAS 11 on construction contracts to help the transition when IFRS 15 replaces it.
Account for and disclose provisions of grants by government and other forms of government assistance.

This course addresses the new revenue requirements, examining the implications of the changes and what you need to do to effectively implement the new requirements.
No prerequisites.

No materials distributed.

No assessments required.


Topic: Corporate Finance, Reporting

Sub-Topic: Finance Management, Financial Reporting

Format: Self-paced

Proficiency Level: Foundation, Intermediate

CPD: 4 hours