Udemy
    •  
    •  
    •  
    •  
    •  
    •  
    •  
    •  
Subscribe
Turn what you know into an opportunity and reach millions around the world.
Learn More
Your cart is empty.
Keep shopping
IFRS 15: Revenue Recognition Made Easy | MCQs & Case Studies
Rating: 4.7 out of 5(3 ratings)
78 students

IFRS 15: Revenue Recognition Made Easy | MCQs & Case Studies

A 6-hour practical course to learn IFRS 15 ( Revenue from Contracts with Customer) step-by-step with real-world examples
Created byMd Sanaullah | CMA | ISB CFO | Author
Last updated 5/2026
English

What you'll learn

  • Revenue Accountant, US CMA, CPA, and ACCA students
  • B Com, M Com, and MBA Finance learners
  • Accountants, Finance Managers, Controllers, and aspiring CFOs
  • Anyone preparing for interviews or exams with revenue recognition topics

Course content

3 sections • 20 lectures • 5h 48m total length

  • Introduction - Revenue Recogniton 116:27

    Learn how IFRS and US GAAP govern revenue recognition, distinguishing revenue from income, and applying a five-step model to recognize transfer of control over goods and services.

  • Revenue Recogniton 217:07

    Apply the five-step IFRS 15 revenue recognition model, identifying contracts and performance obligations, determining transaction price, and recognizing revenue over time for subscription services.

  • Revenue Recogniton 34:35

    Explore point in time revenue recognition, where revenue is recognized at an instant when control transfers and the customer receives the goods, illustrated with a laptop sale example.

  • Revenue Recogniton 49:17
  • Revenue Recogniton 55:42

    Learn about the completed contract method under US GAAP for long-term contracts, including agriculture and precious metals, with revenue recognized upon production completion.

  • Revenue Recogniton 617:29

    Learn how installment revenue recognition under IFRS 15 handles deferred gross profit, installment receivables, and cost of goods sold across down payments and quarterly installments.

  • Revenue Recogniton 712:08

    Learn the cost recovery method of revenue recognition, a conservative approach that defers revenue until costs are recovered, illustrated with installment sales, deferred gross profit, and related journal entries.

  • Revenue Recogniton 817:41

    Explain right to return under IFRS 15, recognizing revenue with an expected return, and using return liabilities, right-to-return assets, and inventory cost adjustments.

  • Revenue Recogniton 923:36

    Explore revenue recognition and buyback concepts, including repurchase agreements, ownership transfer, and fair value terms, with illustrative cases like Apple and Lehman.

  • Revenue Recogniton 1013:30
  • Revenue Recogniton 1122:43

    Explore long-term contracts under IFRS and ASC 606, comparing completed contract and percentage-of-completion methods, criteria, revenue recognition timing, and how to record progress and potential losses.

  • Revenue Recogniton 1212:06

    Explain the percentage-of-completion method for long-term contracts, including cost-to-cost calculation, cost incurred and estimated future costs, profit and loss recognition, and related entries under IFRS and US GAAP.

  • Revenue Recogniton 1327:15

    Explore the percentage of completion method for long-term contracts, calculate revenue recognition and profits or losses from an Excel-based example, and post end-to-end journal entries for CIP, billing, and close.

  • Revenue Recogniton 1427:34

    Explore the IFRS 15/US GAAP five-step model for revenue recognition: identify contracts, identify obligations, determine and allocate the transaction price, and recognize revenue as obligations are satisfied.

  • Revenue Recogniton 1526:32

    Explore the five-step model for revenue recognition under IFRS 15, including contract identification, performance obligations, price determination, and recognizing revenue as obligations are satisfied, with contract modification and combination concepts.

  • Revenue Recogniton 169:30

    Understand the five-step IFRS 15 model, including identification of contract, termination provisions, enforceability, penalties, and revenue recognition tied to performance obligations.

  • Revenue Recogniton 1725:04

    Explore the IFRS 15 five-step revenue recognition model, focusing on identifying performance obligations, distinguishing distinct goods and services and bundles, with promises such as installation, software, warranties, and compliance.

  • Revenue Recogniton 1827:11

    Learn the five-step revenue recognition model under IFRS 15 and US GAAP. Determine the transaction price with fixed and variable considerations, financing components, and non-cash consideration.

  • Revenue Recogniton 1919:31
  • Revenue Recogniton 2013:38

    Apply the five-step model to revenue recognition, identify contracts and performance obligations, allocate transaction price, and recognize revenue when control transfers, either at a point in time or over time.

Requirements

  • No prior knowledge of IFRS is needed - everything is explained from the ground up
  • Basic knowledge of accounting principles (debits, credits, revenue and expense concepts)
  • Familiarity with financial statements (Income Statement, Balance Sheet)
  • A curious mindset and willingness to learn revenue accounting concepts practical

Description

By the end of this course, you will have a thorough and practical understanding of IFRS 15, the global standard for Revenue from Contracts with Customers, developed jointly by IASB and FASB (also issued in the U.S. as ASC 606).

Here's what you’ll master:

1. The 5-Step Revenue Recognition Model

  • Identify contracts with customers

  • Identify performance obligations

  • Determine transaction price

  • Allocate transaction price to obligations

  • Recognize revenue when (or as) performance is satisfied

Each step is explained with real-life examples and journal entries.

2. Revenue Recognition Over Time vs Point-in-Time

  • Understanding how and when to recognize revenue under various types of contracts (construction, SaaS, licensing, etc.)

  • Apply the criteria for recognizing revenue over time using input/output methods

  • Know when revenue must be recognized at a point in time

3. Contract Types and Complex Scenarios

  • Multi-element contracts (bundled goods/services)

  • Contract modifications and variable consideration

  • Discounts, rebates, refunds, and returns

  • Significant financing components and non-cash consideration

4. Practical Application with Journal Entries

  • Learn how IFRS 15 impacts financial statements and disclosures

  • Practice real-world accounting entries for different business scenarios

  • Understand how to implement the standard in ERP/accounting systems

5. Real MCQs & Case-Based Questions

  • Solve exam-level and interview-style multiple-choice questions

  • Test your application and conceptual clarity on every topic

  • Prepare yourself for job roles involving revenue accounting, audit, or reporting

Why IFRS 15 Matters

  • Revenue is one of the most critical KPIs for any business

  • It’s directly linked to investor confidence, profitability, and regulatory compliance

  • A must-know for anyone working in accounting, FP&A, audit, or finance leadership roles

  • Enhances your ability to work with cross-border or multinational companies where IFRS or convergence with IFRS is standard

Who this course is for:

  • This course is for students, professionals, and business owners who want to master IFRS 15 and apply revenue recognition confidently in real-world scenarios.

Report abuse