Revenue
Note: The Accounting Standards Board recently announced that due to the COVID-19 pandemic, they are deferring the effective dates of all previously announced amendments to ASPE by one year (April 2020)
Presenter:
An Lam
Senior Manager, Audit
(416) 874-4386
In this webcast, we provide a summary of amendments to the revenue standard that are effective for annual periods beginning on or after January 1, 2021. We outline the key changes in the 5 topics addressed by the changes (percentage of completion method, multiple-element arrangements, reporting revenue gross versus net, bill and hold sales, and upfront non-refundable fees/payments) and highlight areas where the amendments are most likely to result in a change in practice.
English and French presentations available for download.