IFRS 15 - Revenue from Contracts with Customers

Name: IFRS 15 - Revenue from Contracts with Customers
Rating: 4.6 (105 reviews)

A complete guide on IFRS 15 (Revenue from Contracts with Customers) with solved questions and case studies

Created bySyed M Ali Shah

Last updated 4/2025

English

What you'll learn

IFRS 15 - Revenue from Contracts with Customers
This course is a complete guide on how to recognize and measure the Revenue under International Financial Reporting Standards.

Course content

1 section • 18 lectures • 5h 19m total length

Introduction and Overview to IFRS 1529:29
Five Steps Model Under IFRS 1513:02
learn the five steps model under IFRS 15 to identify contracts, identify performance obligations, allocate transaction price, and recognize revenue as obligations are satisfied, including over a period of time.
Five Steps Model - Identification of Contract and Performance Obligation17:26
Five Steps Model - Variable Consideration15:16
In the IFRS 15 five-step model, step three determines the transaction price, including variable consideration, financing components, non-cash consideration, and refunds, with methods like probability-weighted or most likely outcomes.
Five Steps Model - Significant Financing Component14:38
Five Steps Model - Non-Cash Consideration4:15
Five Steps Model - Allocating Transaction Price to Perf. Obligations6:59
Five Steps Model - Recognizing Revenue32:56
4 - Discount Allocation Example27:37
5 - Right to Refund Example16:40
6 - Variable Consideration Example17:28
Explains the five steps of IFRS 15, using a variable consideration example with discount allocation, and shows revenue recognition on delivery and over time for two obligations.
8. Discount Allocation - IFRS 1524:31
9. Finance Component - IFRS 1519:33
10. IFRS 15 Case Study19:07
11. IFRS 15 - Question Part 114:34
Explore IFRS 15 revenue recognition for a fixed 1.5 million contract with a 110 thousand bonus, considering 65 percent completion and a post year-end non-adjusting contract modification.
12. IFRS 15 - Question Part 212:46
13. IFRS 15 - Long Question Solved - 118:59
14. IFRS 15 - Long Question Solved - 214:40

Requirements

Basic accounting knowledge

Description

Course Overview

The course covers in detail the principle for measurement and recognition of revenue as prescribed by IFRS under IFRS 15.

IFRS 15 is a relatively new standard which has replaced two old standards namely.

1. IAS 18 - Revenue

2. IAS 11 - Revenue from Construction Contracts.

Who Should Take This Course?

It is a complete guide kit for those who want to learn the treatment of Revenue under IFRS 15. The course includes complete lecture video on standard as well as several questions, solutions and case studies.

Accounting and Finance Professionals as well as students from ACCA, CIMA, CA, ICAEW,, CAT BBA, MBA and others studying Financial Accounting under IFRS

About the Instructor

A qualified accounting and finance professional with over twenty years of extensive experience in diversified industry sectors such as auditing, large scale manufacturing and oil and gas.

Like most accounting and finance professionals, I started my career as finance executive and then over the years rose to the position of CFO in a multinational company in oil and gas industry.

I have also worked as a consultant with the World Bank and European Union on different projects in Middle East, Eastern Europe and CIS countries during 2011 to 2018 as a principal consultant for IFRS and Financial Management.

I am qualified professional with three professional qualifications MBA, ACCA and CIMA UK. I have been teaching IFRS, Financial Reporting, Financial Management and Performance Management for over fifteen years and my focus areas are ACCA and CIMA qualifications.

Who this course is for:

Accounting and Finance Professionals, Students studying ACCA, CIMA, CA, CAT, ICAEW and other Accounting qualifications