Major publications on IFRS 15

A collection of major publications providing an in-depth discussion of the May 2014 revenue recognition standard.

iGAAP in Focus — Financial reporting: IASB seeks views on the post-implementation review of IFRS 15

03 Jul 2023

This 'iGAAP in Focus' outlines the request for information 'Post-implementation Review of IFRS 15 'Revenue from Contracts with Customers'', published by the International Accounting Standards Board (IASB) in June 2023.

IFRS in Focus — Disclosing the new adoption of accounting standards in interim financial statements

11 May 2018

Both IFRS 9 'Financial Instruments' and IFRS 15 'Revenue from Contracts with Customers' are mandatorily effective for annual periods beginning on or after 1 January 2018. For many entities, the first financial statements reflecting adoption of these significant standards will be an interim report for the six months to June 2018. IFRS 16 'Leases' is also available for early adoption in 2018 financial statements.

Heads Up — Adopting the new revenue standard — Where do companies stand?

04 Apr 2017

This Heads Up discusses certain considerations related to implementing the FASB’s new revenue standard, "Revenue From Contracts With Customers." The discussion compares the results of a 2016 Deloitte-sponsored survey to previously reported results from Deloitte’s 2015 survey, in which respondents were asked various questions pertaining to their readiness to adopt the standard’s provisions.

Heads Up — FASB makes narrow-scope amendments to revenue standard and provides practical expedients

11 May 2016

This Heads Up discusses FASB Accounting Standards Update (ASU) No. 2016-12, "Narrow-Scope Improvements and Practical Expedients," which amends certain aspects of the Board's May 2014 revenue standard (ASU 2014-09, "Revenue From Contracts With Customers"). The amendments address certain implementation issues identified by the FASB's transition resource group and clarify, rather than change, the new revenue standard's core revenue recognition principles.

IFRS in Focus — IASB introduced clarifications to IFRS 15

20 Apr 2016

This newsletter outlines the IASB's recent clarifying amendments to IFRS 15 'Revenue from Contracts with Customers'.

Heads Up — FASB clarifies guidance on licensing and identifying performance obligations

15 Apr 2016

This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2016-10, "Identifying Performance Obligations and Licensing," which amends certain aspects of the Board's new revenue standard, ASU 2014-09, "Revenue From Contracts With Customers." The amendments in the ASU reflect feedback received by the FASB-IASB joint revenue recognition transition resource group, which was formed to address potential issues associated with the implementation of the new revenue standard, as well as comments received from stakeholders on the FASB’s proposed guidance.

Heads Up — The new revenue standard — Adoption and transition observations

14 Jan 2016

This Heads Up discusses certain considerations related to implementing the FASB’s and IASB’s new revenue standard, "Revenue From Contracts With Customers." The discussion centers on the results of a Deloitte-sponsored survey in which respondents were asked various questions pertaining to their readiness to adopt the standard’s provisions.

IFRS in Focus — Joint Meeting on Revenue

18 Nov 2015

This newsletter summarises the November meeting of the IASB and FASB joint revenue transition resource group.

Heads Up — FASB issues proposed revenue ASU to make narrow-scope amendments and provide practical expedients

02 Oct 2015

This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU), "Revenue From Contracts With Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," which would amend certain aspects of the Board’s May 2014 revenue standard, ASU 2014-09, "Revenue From Contracts With Customers." The proposed amendments include those related to (1) collectibility, (2) presentation of sales tax and other similar taxes collected from customers, (3) noncash consideration, (4) contract modifications and completed contracts at transition, and (5) a transition technical correction. The proposal’s effective date and transition provisions would be aligned with the requirements of ASU 2014-09. Comments on the proposed ASU are due by November 16, 2015.

IFRS in Focus — IASB issues amendments to defer effective date of IFRS 15

11 Sep 2015

This edition outlines the amendments to IFRS 15 'Revenue from Contracts with Customers' formalising the deferral of the effective date by one year to 2018.

Heads Up — FASB proposes amendments to new revenue standard’s guidance on principal-versus-agent considerations

01 Sep 2015

This Heads Up Up summarizes the key provisions of the FASB’s proposed ASU that would amend the Board’s new revenue standard to address issues raised regarding how an entity should assess whether it is the principal or the agent in contracts that include three or more parties (“principal-versus-agent considerations”). In addition, this newsletter reproduces the proposed ASU’s (1) questions for respondents and (2) illustrative examples that would amend or supplement the new revenue standard’s existing examples.

IFRS in Focus — IASB proposes clarifications to IFRS 15

28 Aug 2015

This edition outlines the proposed clarifications to IFRS 15 'Revenue from Contracts with Customers' set out in the recent exposure draft ED/2015/6 'Clarification to IFRS 15' which was issued in July 2015 for public comment.

IFRS in Focus — Joint meeting on Revenue (July 2015)

04 Aug 2015

This newsletter summarises the July 2015 meeting of the IASB and FASB joint revenue transition resource group.

Heads Up — FASB confirms decision to defer effective date of new revenue standard by one year

10 Jul 2015

This Heads Up discusses the FASB’s recent decision to reaffirm the guidance in its April 2015 proposed Accounting Standards Update (ASU), Revenue From Contracts With Customers (Topic 606): Deferral of the Effective Date, which defers for one year the effective date of the new revenue standard (ASU 2014-09) for both public and nonpublic entities reporting under U.S. GAAP and allows early adoption as of the original effective date. The FASB’s final decision comes after a month-long comment period that closed on May 29, 2015. Comment-letter respondents unanimously supported the deferral of the effective date by at least one year, stating that the additional time would allow for more successful implementation of the requirements as entities work through issues associated with IT solutions and adoption of new processes and controls.

IFRS in Focus — IASB proposes amendments to IFRS 15 to defer the effective date by one year

20 May 2015

This newsletter summarises the May 2015 Exposure Draft aimed at deferring the effective date of IFRS 15 'Revenue from Contracts with Customers' to 1 January 2018.

Heads Up — FASB issues proposed revenue ASU on licensing and identifying performance obligations

13 May 2015

This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU), "Identifying Performance Obligations and Licensing," which would amend certain aspects of the guidance on these topics in the Board’s May 2014 revenue standard, "Revenue From Contracts With Customers" (ASU 2014-09). The amendments are being made in response to feedback received by the FASB–IASB joint revenue recognition transition resource group, which was formed to address potential issues associated with the implementation of ASU 2014-09.

Heads Up — FASB proposes to defer the new revenue standard for one year

29 Apr 2015

This Heads Up discusses the FASB’s proposed Accounting Standards Update to defer for one year the effective date of FASB Accounting Standards Update No. 2014-09, "Revenue From Contracts With Customers," for public and nonpublic entities reporting under U.S. GAAP.

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Major publications on IFRS 15

iGAAP in Focus — Financial reporting: IASB seeks views on the post-implementation review of IFRS 15

IFRS in Focus — Disclosing the new adoption of accounting standards in interim financial statements

Heads Up — Adopting the new revenue standard — Where do companies stand?

Heads Up — FASB makes narrow-scope amendments to revenue standard and provides practical expedients

IFRS in Focus — IASB introduced clarifications to IFRS 15

Heads Up — FASB clarifies guidance on licensing and identifying performance obligations

Heads Up — The new revenue standard — Adoption and transition observations

IFRS in Focus — Joint Meeting on Revenue

Heads Up — FASB issues proposed revenue ASU to make narrow-scope amendments and provide practical expedients

IFRS in Focus — IASB issues amendments to defer effective date of IFRS 15

Heads Up — FASB proposes amendments to new revenue standard’s guidance on principal-versus-agent considerations

IFRS in Focus — IASB proposes clarifications to IFRS 15

IFRS in Focus — Joint meeting on Revenue (July 2015)

Heads Up — FASB confirms decision to defer effective date of new revenue standard by one year

IFRS in Focus — IASB proposes amendments to IFRS 15 to defer the effective date by one year

Heads Up — FASB issues proposed revenue ASU on licensing and identifying performance obligations

Heads Up — FASB proposes to defer the new revenue standard for one year

IFRS in Focus — IASB tentatively decides to defer the effective date of IFRS 15 by one year

IFRS in Focus — Joint meeting on Revenue (March 2015)

Heads Up — FASB tentatively decides to defer the new revenue standard for one year

Correction list for hyphenation