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All IFRS 15 publications

A collection of all our publications related to the May 2014 revenue recognition standard.

Related Publications

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.

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.

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.

2018 Update on Half Yearly Financial Reporting

03 Jul 2018

The 2018 edition of our popular guide to half-yearly financial reporting contains a regulatory overview, setting out the requirements for half-yearly financial reports and changes for preparers to contend with in 2018, including disclosures on the impact of implementing IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments, a model half-yearly financial report, including illustrative IAS 34 condensed financial statements; and a disclosure checklist.

Need to know — Disclosing the new adoption of accounting standards in interim financial statements

21 Jun 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.

Revenue from Contracts with Customers — A guide to IFRS 15

21 Mar 2018

This detailed guide is intended to assist preparers and users of financial statements to understand the impact of IFRS 15 and includes a high-level executive summary of the new requirements, followed by a specific focus on the important issues and choices available for entities on transition to the new Standard.

Deloitte e-learning — IFRS 15

06 Feb 2018

This Deloitte e-learning module provides training in the background, scope and principles under IFRS 15 'Revenue from Contracts with Customers', and the application of this Standard. Topics covered include the principles for the recognition of revenue to the sale of goods, services, licenses, royalties, and any variable consideration or modifications to contracts; and guidance is provided on how these principles should be applied by using the new five step revenue recognition model.

Deloitte comment letter on tentative agenda decision on IFRS 15 — Revenue recognition in a real estate contract that includes the transfer of land

29 Jan 2018

We have commented on the IFRS Interpretations Committee's publication in the November 2017 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the application of the revenue recognition requirements of IFRS 15 to a contract for the sale of land and a building in which title to the land irrevocably transfers to the customer at contract inception, with the building subsequently constructed on that land.

Deloitte comment letter on tentative agenda decision on IFRS 15 — Right to payment for performance completed to date

29 Jan 2018

We have commented on the IFRS Interpretations Committee's publication in the November 2017 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the application of the revenue recognition requirements of IFRS 15 to a contract for the sale of a unit in a residential complex which the customer can cancel during construction and is then liable to pay any shortfall between the original sales price and a price achieved on resale of the unit to a new customer.

Deloitte comment letter on tentative agenda decision on IFRS 15 — Revenue recognition in a real estate contract

20 Nov 2017

We agree with the IFRS Interpretations Committee's decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision; however, we recommend an amendment to the wording in the tentative agenda decision to highlight the distinction between control of an asset and of a right to sell or pledge that asset in the future.

IFRS model financial statements 2017 — Appendix 2: Early application of IFRS 15 'Revenue from Contracts with Customers'

14 Nov 2017

This Appendix has been produced to complement the International GAAP Holdings Limited Model financial statements for the year ended 31 December 2017. It focuses on the disclosure requirements in IFRS 15 'Revenue from Contracts with Customers' which are effective for annual periods beginning on or after 1 January 2018. It does not illustrate all the disclosures in IFRS 15, which will depend on an entity's underlying facts and circumstances.

EFRAG endorsement status report 9 November 2017

09 Nov 2017

This endorsement status report update reflects that IFRS 16 'Leases', 'Recognition of Deferred Tax Assets for Unrealised Losses (Amendments to IAS 12)', 'Disclosure Initiative (Amendments to IAS 7)', 'Clarifications to IFRS 15 'Revenue from Contracts with Customers'', and 'Applying IFRS 9 'Financial Instruments' with IFRS 4 'Insurance Contracts' (Amendments to IFRS 4)' have been adopted for use in the European Union.

Implementing IFRS 15 'Revenue from Contracts with Customers' - A practical guide to implementation issues for the asset management sector

16 Oct 2017

This guide is intended to provide an overview of applying IFRS 15 within the asset management sector. The guidance provided here is not intended to be exhaustive, but aims to highlight some of the potential issues to consider and to indicate how those issues might be approached.

EFRAG endorsement status report 6 July 2017

06 Jul 2017

The endorsement status report has been updated to reflect that ARC voted in favour of endorsing amendments to IAS 7, amendments to IAS 12, and clarifications to IFRS 15. Final endorsement of these pronouncements is expected in the fourth quarter of 2017.

Deloitte comment letter on FRED 67— 'Draft amendments to FRS 102 - Triennial review - Incremental improvements and clarifications'

04 Jul 2017

We have published our comment letter on the Financial Reporting Council’s (FRC’s) Financial Reporting Exposure Draft (FRED) 67 ‘Draft amendments to FRS 102 - Triennial review - Incremental improvements and clarifications'.

2017 Update on Half Yearly Financial Reporting

03 Jul 2017

The 2017 edition of our popular guide to half-yearly financial reporting has now been published on UK Accounting Plus. The publication contains the a regulatory overview, setting out the requirements for half-yearly financial reports and changes for preparers to contend with in 2017, including the European Securities and Markets Authority (ESMA) public statements on issues for consideration in implementing IFRS 15 and IFRS 9; a model half-yearly financial report, including illustrative IAS 34 condensed financial statements; and a disclosure checklist.

EFRAG endorsement status report 30 March 2017

31 Mar 2017

The endorsement status report has been updated to reflect that ARC votes and final endorsement that were still noted as "Q1 2017" are now expected in the second quarter of 2017.

Deloitte comment letter on the FRC consultation on changes to FRS 102 to reflect recent changes in IFRS

22 Dec 2016

We have published our comment letter on the Financial Reporting Council’s (FRC’s) consultation on changes to FRS 102 to reflect recent changes in IFRS.

EFRAG endorsement status report 31 October 2016

31 Oct 2016

This endorsement status report update reflects that IFRS 15 'Revenue from Contracts with Customers' has been endorsed for use in the European Union.

Need to know — FRC consults on changes to FRS 102 to reflect recent changes in IFRSs

10 Oct 2016

The FRC has published a Consultation Document Triennial review of UK and Ireland accounting standards – Approach to changes in IFRS. This forms part of the first triennial review of FRS 102 and sets the direction of travel for UK GAAP. Areas under discussion within this Consultation include revenue recognition, leases and impairment model for financial assets. This Need to know discusses this Consultation.

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