Course Content
Why Should You Attend
According to IFRS 15 revenue depicts transfer of goods or services to customers in an amount that reflects the consideration that the entity expects to be entitled to, in exchange for those goods or services. How can we define this consideration? How do we recognise revenue within one contract, if we sell a good and a service for one combined price? What amount is recognised as revenue if a customer can claim a refund three months after delivery?
This course explains the five step approach in detail using practical examples and interim tests.
Course Outcomes
By completing this course, you will be able to:
- Learn the scope of IFRS 15 and the five step approach
- Discuss the concept of contract with the customer, including situations of contract combination and contract modification
- Learn how to identify performance obligations in the contract
- Discuss the transaction price and the effects of variable consideration, significant financing component, non-cash consideration
- Discuss how to allocate the transaction price
- Discuss the revenue recognition pattern at a point in time or over time.
- Know how to apply the five-step recognition method
- Know how to present revenue from contracts with customers in the AFS; and..
- Understand the disclosure of revenue from contracts with customers.
Target Group
This course is ideal for accounting and finance professionals, auditors, and students who want to enhance their understanding of IFRS 15 and its application to revenue recognition. It is also valuable for business owners, managers, and consultants who are involved in financial reporting and contract management. Whether you are a beginner seeking foundational knowledge or an experienced professional looking to refine your expertise, this course is designed to meet your needs.
Venue & Dates
Venue: Online Course
Date: 27 June 2025
Course Fee
R599.00
