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This course will enable you to
- Learn the new provisions of IFRS 15
- Understand each step of the five-step process for implementing IFRS 15
- Recognise whether to capitalise costs when entering into a contract
- Understand the disclosure requirements under the new standards
- Know how to account for grants correctly under IAS 20
About the course
Revenue is a fundamental concept in accounting, but the rules for how to recognise and report it in financial statements have been fundamentally revised. IFRS 15 represents this major revision of the rules governing revenue from contracts with customers.
This course will get you up-to-date with recent changes and what they mean for your organisation. You will understand the key provisions of IFRS 15, the five-step process and other factors affecting the standard such as contract costs.
Look inside
Contents
- IFRS 15: A new Standard
- All about revenue
- Aims of IFRS 15 – Q&A
- The need for a new Standard
- Objectives of IFRS 15
- IFRS 15 – The five-step process
- Step 1: Contract recognition
- What is a contract?
- Step 1 – Q&A
- Key elements of a contract
- Step 2: Identify performance obligations
- Step 2 – Q&A
- What are performance obligations?
- Over time or at a point in time?
- Step 3: Determine transaction price
- Step 3 – Q&A
- Determining the transaction price
- Devil in the detail: variations and adjustments
- Step 4: Link price to performance
- Step 4 – Q&A
- Linking transaction prices to performance obligations
- Estimation methodologies
- Step 5: Recognise revenue
- Recognising revenue
- Step 5 – Q&A
- Impact of IFRS 15 – Q&A
- Contract costs
- Capitalising contract costs
- Amortisation of contract costs
- Disclosures
- Disclosure requirements
- Government grants and assistance
- Government grants – Q&A
- Government grants and government assistance
- Rules about accounting for grants
- Devil in the detail: Government grants
- Disclosure requirements
How it works
Author
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Why not upgrade?Find the best way to complete your CPD | CourseNeed just a few unitshourshours? | Pick n MixAll you need for this year's CPD. | LicenceAll you need for this year and more. | TeamKeep your whole team up to date. |
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| Access to this course | ||||
| Total CPD unitshourshours | 4 unitshourshours | 21 units20 hours21 hours | 800+ unitshourshours | 800+ unitshourshours |
| Access period | 120 days | 120 days Access to end 2025 | 12 months | 12+ months |
| Audit-proof CPD completion certificate | ||||
| Immediate access to our entire CPD catalogue | ||||
| Exclusive news and CPD every week plus monthly webinars, all year round | ||||
| Account manager on hand to support your team’s needs | ||||
| Learn more | Learn more | Learn more | ||
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Use ACCA101 for 10% off any purchase.