Revenue From Contracts With Customers Deloitte

As with any new ifrs implementation board oversight at an early stage and on an ongoing basis is critical.

Revenue from contracts with customers deloitte. The deloitte revenue project team recently undertook a national survey on aasb 15 revenue from contracts with customers assessing organisations general level of preparedness for the new accounting standard. Log in subscribe. Igaap ifrs literature deloitte newsletters help. This roadmap provides deloitte s insights into and interpretations of the accounting guidance under the new revenue standard as codified in asc 606 asc 340 40 and asc 610 20.

Deloitte accounting research tool. The latest issue of deloitte s heads up briefing discusses the final standard on revenue from contracts with customers released by the financial accounting standards board and the international accounting standards board. In order to ensure an effective and efficient implementation process it is imperative that the board remains engaged. Ifrs 15 revenue from contracts with customers.

The 2019 edition contains new interpretations and guidance that reflect developments in practice and activities of the fasb sec and aicpa since publication of the 2018 edition. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current. Ifrs 15 was issued in may 2014 and applies to an annual reporting period beginning on or. Ifrs 15 revenue from contracts with customers basis for conclusions on ifrs 15 revenue from contracts with customers illustrative examples on ifrs 15 revenue from contracts with customers.

International financial reporting standards linked to deloitte accounting guidance international financial reporting standards ifrs 15 revenue from contracts with customers. Ifrs 15 specifies how and when an ifrs reporter will recognise revenue as well as requiring such entities to provide users of financial statements with more informative relevant disclosures. The latest issue of deloitte s heads up briefing discusses the final standard on revenue from contracts with customers released by the financial accounting standards board and the international accounting standards board. Ifrs 15 revenue from contracts with customers.

New revenue model standard by deloitte january 31 2017 no comments companies in nigeria have to brace up for the adoption of a new revenue recognition model. Deloitte australia aasb 15 resources. With nearly 100 participants across australia the results are telling. The standard provides a single principles based five step model to be applied to all contracts with customers.

Standard by deloitte april 5 2018 no comments.