International Financial Reporting Standard (IFRS)15, Revenue from Contracts with Customers had a broad impact on the amounts and timing of revenue. This course provides an overview of the most significant elements of the latest five-step model to determine when and what amount to recognize revenue.
Prerequisites
No advanced preparation or prerequisites are required for this course.
Learning Objective
- Explore the five-step model that determines when and what amount of revenue to recognize.
- Discover important considerations in recognizing revenue when a company transfers control of goods or services to a customer at the amount the company expects to be entitled.
- Recognize whether to recognize revenue either over time, in a manner that best reflects performance, or at a point in time, when control of the goods or services is transferred to the customer.
Last updated/reviewed: September 26, 2026
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Jennifer Louis
CPA, President of Emergent Solutions Group LLC
INTRODUCTION AND OVERVIEW
- Introduction and Overview to Accounting for Revenue from Contracts with Customers per IFRS 15 6:50
- Step 1: Identify the Contract with a Customer 4:44
- Step 2: Identify the Performance Obligations & Step 3: Determine the Transaction Price 7:40
- Step 4: Allocate the Transaction Price & Step 5: Recognize Revenue 5:33
- Contract Cost Assets 3:56
- Contract Modifications 2:56
- Licensing of Intellectual Property & Presentation and Disclosure 5:20
- Other Matters and Conclusion 12:19
CONTINUOUS PLAY
SUPPORTING MATERIALS
- Slide: Accounting for Revenue from Contracts with Customers per IFRS 15 PDF
- Slides: Accounting for Revenue from Contracts with Customers per IFRS 15 PDF
REVIEW AND TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM locked
