This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

FYI Article – IFRS 15: The New Revenue Standard – Are You Ready?

  • IFRS - AcSB Image

Apr 02, 2015

On April 2, 2015, the Accounting Standards Board published an article that discusses the International Accounting Standards Board’s new standard on accounting for revenue and the more significant changes from current requirements. It also identifies a number of considerations for planning to implement the standard.

IFRS 15, Revenue from Contracts with Customers, introduces some significant changes in accounting for revenue. The effect on entities will depend on the nature of their sales transactions. While some entities will see little, if any, changes to the recognition and measurement of revenue, others will see substantial changes (for example, entities with long-term service contracts and multiple-element arrangements).  Many entities will have additional disclosure requirements. 

IFRS 15 was incorporated into Part I of the CPA Canada Handbook – Accounting in February 2015.

Read the article.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.