Revenue – IFRS 15 handbook

Consistency in a time of change

IFRS 15 Revenue from Contracts with Customers is being applied to an ever-expanding population of contracts, some dealing with products and services that did not even exist when the standard originally became effective. However, the standard and its five-step model continue to provide a solid and consistent base when accounting for revenue from contracts with customers.

In its review of IFRS 15, the International Accounting Standards Board (IASB) concluded that the standard is working as intended, but acknowledged that some areas can be challenging to apply in practice. This means that applying the standard will continue to require significant judgement and careful consideration of the facts and circumstances.

We are pleased to share our more recent experience in our Revenue – IFRS 15 handbook. It provides detailed guidance, illustrative examples and extensive discussion of the areas that companies have found most complex. We hope you will find this handbook a helpful resource as you interpret and apply the requirements of IFRS 15 to a broad range of contracts with customers.