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Revenue resources

Below is a comprehensive collection of helpful resources — organised chronologically — on the recently-issued IFRS 15 Revenue from Contracts with Customers. Click for direct access to specific revenue resources:

  

Latest IFRS 15 Resources

HM Treasury publishes results of the post implementation review of IFRS 9 and IFRS 15 for central government

05 Feb 2020

HM Treasury has published the results of an early post-implementation review focusing on the way that IFRS 9 and IFRS 15 were implemented in central government.

FRC announces thematic reviews for 2020/2021

16 Dec 2019

The Financial Reporting Council (FRC) has announced the corporate reporting and audit quality thematic reviews that it will undertake in 2020/21.

We comment on five IFRS Interpretations Committee tentative agenda decisions

25 Nov 2019

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 21, IAS 29, IFRS 15, and IFRS 16, as published in the September 2019 IFRIC Update.

Deloitte comment letter on tentative agenda decision on IFRS 15 — Training costs to fulfil a contract

25 Nov 2019

We have commented on the IFRS Interpretations Committee's publication in the September 2019 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on whether an entity recognises training costs incurred to fulfil a contract with a customer as an asset or an expense when incurred.

Governance in brief — FRC issues advice on annual reports for 2019/20 reporting season

14 Nov 2019

The FRC has issued its Annual Review of Corporate Reporting and annual open letter to finance directors and audit committee chairs covering its perspectives on key developments and areas of focus for 2019/20 annual reports. The report sets out the FRC’s “expectations for corporate reporting to improve trust in business”, emphasising the annual report is a vehicle of trust and stewardship.

FRC publishes findings on the quality of corporate reporting in 2018/2019

30 Oct 2019

The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting 2018/2019, which provides the FRC's assessment of corporate reporting in the UK based on evidence from a variety of sources, including the work of the FRC's own Corporate Reporting Review (CRR) team.

ESMA announces enforcement priorities for 2019 financial statements

22 Oct 2019

The European Securities and Markets Authority (ESMA) has announced the priority issues that the assessment of listed companies' 2019 financial statements will focus on.

FRC publishes thematic review findings of IFRS 9, IFRS 15, and IAS 36 company disclosures

10 Oct 2019

The Financial Reporting Council (FRC) has published three thematic reviews to help companies improve the quality of their corporate reporting in relation to IFRS 9 'Financial Instruments', IFRS 15 'Revenue from Contracts with Customers' and the impairment of non-financial assets.

We comment on seven IFRS Interpretations Committee tentative agenda decisions

20 Aug 2019

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 1, IAS 7, IAS 41, IFRS 9, IFRS 15, and IFRS 16, as published in the June 2019 IFRIC Update.

Deloitte comment letter on tentative agenda decision on IFRS 15 — Compensation for delays or cancellations

20 Aug 2019

We have commented on the IFRS Interpretations Committee's publication in the June 2019 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on compensation for delays or cancellations.

IASB presentation slides

08 Jul 2019

The IASB has posted to its website the slides of two full presentations and one breakfast talk given by IASB members at the recent annual congress of the European Accounting Association (EAA).

A Closer Look — Revenue recognition - evaluating whether an entity is acting as a principal or as an agent

25 Jun 2019

In April 2016, the IASB issued Clarifications to IFRS 15 which amended the principal-versus-agent implementation guidance and illustrations in IFRS 15 to clarify how the principal-versus-agent indicators should be evaluated to support an entity’s conclusion that it controls a specified good or service before it is transferred to a customer. However, given the complexities of some arrangements, including those involving three or more parties, the evaluation of whether an entity is acting as a principal or as an agent continues to require significant judgement, and conclusions reached under IAS 18 may not be the same as those reached under IFRS 15.

IASB posts webcast on borrowing costs and revenue recognition

24 Jun 2019

The IASB has posted a webcast, by IASB technical staff Jawaid Dossani and Nicolette Lange, that discusses conclusions reach at by the IFRS Interpretation Committee related to the application of IAS 23, ‘Borrowing Costs’ and its interaction with IFRS 15, ‘Revenue from Contracts with Customers’.

We comment on four IFRS Interpretations Committee tentative agenda decisions

15 May 2019

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 19, IFRS 15, IFRS 16, and cryptocurrencies, as published in the March 2019 IFRIC Update.

Deloitte comment letter on tentative agenda decision on IFRS 15 — Costs to fulfil a contract

15 May 2019

We have commented on the IFRS Interpretations Committee's publication in the March 2019 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the recognition of costs incurred to fulfil a contract as an entity satisfies a performance obligation in the contract over time.

IASB publishes editorial corrections

01 Mar 2019

The IASB has published its first batch of editorial corrections in 2019.

IASB posts webcast on IFRS 15

14 Feb 2019

The IASB has posted a webcast, by IASB member Nick Anderson and investor engagement member Sid Kumar, that provides an overview on IFRS 15, ‘Revenue from Contracts with Customers’.

Governance in brief — FRC issues advice on annual reports for the 2018/19 reporting season

06 Dec 2018

The Financial Reporting Council (FRC) has issued its Annual Review of Corporate Reporting and annual letter to finance directors and audit committee chairs covering its perspective on key developments for 2018/19 annual reports.

We comment on six IFRS Interpretations Committee tentative agenda decisions

22 Nov 2018

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 27, IAS 37, IFRS 9, IFRS 11, and IFRS 15, as published in the September 2018 IFRIC Update.

Deloitte comment letter on tentative agenda decision on IFRS 15 — Assessment of promised goods or services

21 Nov 2018

We have commented on the IFRS Interpretations Committee's publication in the September 2018 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the recognition of revenue by a stock exchange that provides a listing service to a customer.

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.