Welcome to our IFRS 15 Revenue Recognition Workshop, where we will dive into the complexities of the new standard that became effective on January 1st, 2018. We understand that the standard has a significant impact on businesses that enter into long-term contracts with multiple elements, such as Telecom operators, software companies, health science, and construction companies. This workshop will take you through the five-step model of IFRS 15, which requires organizations to differentiate between the various elements in a contract and recognize revenue for each element based on separate pricing. We will also explore the significant demands on data collection and system capabilities that the new standard necessitates.
We will also delve into the implications of the new standard’s timing of revenue recognition on bonuses, targets, KPIs, corporate income tax, external relations, loan covenants, regulatory requirements, and other relevant areas. We recognize that even companies that do not enter into long-term contracts will feel the effects of the standard’s extensive disclosure requirements, including a movement schedule of contract balances, for which data may not be readily available.
The workshop will provide you with the knowledge and skills to navigate the new requirements of IFRS 15 effectively. We will discuss practical approaches to meet the new and more extensive requirements on companies’ IT systems and underlying processes. You can expect to leave the workshop with a deep understanding of the standard and its implications for your business, as well as the confidence to comply with the standard’s requirements.
We are excited to present our high-intensity 2-day IFRS 15 course, designed to equip you with the knowledge and skills needed to meet the challenges resulting from the new standard. Our expert trainers from the UK will guide you through the intricacies of the new standard, providing practical insights and perspectives to help you navigate the complex requirements of IFRS 15. This is an exclusive learning opportunity, and we have limited seats available for the programme.
Don’t miss out on the chance to develop your understanding of IFRS 15 and position yourself for success in the new regulatory environment. Contact our training service team now to enroll in this programme and take advantage of this unique opportunity.
Key Learning Features
In this IFRS 15 Revenue Recognition workshop, we’ll cover a range of key areas that will enable you to successfully navigate the new standard. You can expect to gain valuable insights and practical skills in the following areas:
- Identification of bundles of goods or services vs. distinct goods or services that are substantially the same
- Separation of combined contracts into different revenue elements
- Determination of transaction price
- Allocation of transaction price to performance obligations in contracts
- Use of various approaches including the adjusted market assessment approach, expected cost plus a margin approach, and residual approach (in limited circumstances)
- Recognition of revenue over time or at a point in time
- Accounting for sales with a right to return
- Dealing with presentation and disclosure issues
- Key differences between IFRS and US GAAP
We know these topics are critical to your success in meeting the new regulatory requirements, and our expert trainers will provide you with the knowledge and tools you need to excel in these areas. Join us for this intensive workshop and gain a comprehensive understanding of IFRS 15.
For More Information
Please contact our customer service team for more information about our IFRS 15 Training Program and to enroll. Our team is dedicated to providing you with excellent service and answering any questions you may have. We look forward to hearing from you and helping you take the next step in your professional development.