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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

IASB publishes clarifications to IFRS 15

12 Apr 2016

The International Accounting Standards Board (IASB) has published final clarifications to IFRS 15 'Revenue from Contracts with Customers'. The amendments are effective for annual reporting periods beginning on or after 1 January 2018 (same effective date as IFRS 15 itself). Earlier application is permitted.

Chief Accountant of the SEC comments on revenue recognition

24 Mar 2016

At an accounting and reporting congress in Philadelphia, Jim Schnurr, Chief Accountant of the US Securities and Exchange Commission (SEC), shared some of his thoughts and perspectives on the continuing transition activities for the new revenue standard.

Stay Tuned Online - IFRS and UK GAAP update March 2016

14 Mar 2016

The following topics are covered in the March 2016 webcast: 1 - Revenue - latest developments, 2 - The Financial Reporting Council's (FRC's) 2015 Corporate Reporting Review, 3 - Leasing - the new International Financial Reporting Standard (IFRS) 4 - a round up of other UK corporate reporting news and 5 - IFRS developments and reminders.

EFRAG endorsement status report 9 March 2016

09 Mar 2016

This endorsement status report update reflects that the final endorsement of IFRS 15 'Revenue from Contracts with Customers' for use in the European Union is now expected in the second half of 2016 (was: second quarter of 2016).

IASB says TRG not scheduled to meet again

22 Jan 2016

The IASB has announced that the Transition Resource Group for Revenue Recognition (TRG) is not scheduled to meet again.

IFRS Foundation publishes proposed IFRS Taxonomy update for IFRS 16 'Leases'

21 Jan 2016

The IFRS Foundation has published a proposed IFRS Taxonomy update 'IFRS Taxonomy 2015 — IFRS 16 'Leases''.

IASB publishes editorial corrections

08 Dec 2015

The IASB has published a batch of editorial corrections to stand-alone standards.

EFRAG endorsement status report 3 December 2015

03 Dec 2015

This endorsement status report update reflects that the European Union has published a Commission Regulation adopting 'Clarification of Acceptable Methods of Depreciation and Amortisation (Amendments to IAS 16 and IAS 38)' for use in the European Union. It also reflects that the Accounting Regulatory Committee (ARC) meeting was cancelled due to the special situation in Brussels, therefore ARC votes on IFRS 15 and amendments to IFRS 10, IFRS 12 and IAS 28 will not occur until the first quarter of 2016. Accordingly, endorsement of these pronouncement is now expected in the second quarter of 2016.

IFRS Foundation releases training material for IFRS 9 and IFRS 15

27 Nov 2015

The IFRS Foundation's education initiative has releases slide decks to support those teaching IFRSs. The material provided now is for IFRS 9 'Financial Instruments' and IFRS 15 'Revenue from Contracts with Customers'. Both standards are effective for annual reporting periods beginning on or after 1 January 2018 with early application permitted.

Need to know — Joint Meeting on Revenue (November 2015)

18 Nov 2015

This Need to Know summarises the November meeting of the IASB and FASB joint revenue transition resource group (TRG).

EFRAG publishes final comment letter on clarifications to IFRS 15

12 Nov 2015

The European Financial Reporting Advisory Group (EFRAG) has issued its final comment letter on the IASB exposure draft ED/2015/6 'Clarifications to IFRS 15'.

TRG discusses implementation of new revenue standard

11 Nov 2015

At its 9 November 2015, meeting, the FASB’s and IASB’s joint revenue transition resource group (TRG) discussed potential issues related to implementing the boards’ new revenue standard.

Revenue transition resource group releases meeting agenda

03 Nov 2015

The FASB and IASB have released the agenda for the next meeting of their joint revenue transition resource group (TRG), which will be held on 9 November 2015.

'What kind of accounting standards should the IASB write?'

02 Nov 2015

The IASB makes available a paper by IASB member Mary Tokar published in the Journal of Accounting and Management Information Systems (JAMIS). The paper focuses on a long-standing challenge for standard setters: What kind of standards should they write?

We comment on the proposed clarifications to IFRS 15

28 Oct 2015

We have published our comment letter on the International Accounting Standards Board's (IASB) Exposure Draft ED/2015/6 'Clarifications to IFRS 15'.

Deloitte comment letter on IASB ED/2015/6 'Clarifications to IFRS 15'

28 Oct 2015

Deloitte Touche Tohmatsu Limited has responded to the International Accounting Standards Board's (IASB) Exposure Draft ED/2015/6 Clarifications to IFRS 15.

FRC comments on the IASBs clarifications to IFRS 15

13 Oct 2015

The Financial Reporting Council (FRC) has commented on the IASB exposure draft ED/2015/6 'Clarifications to IFRS 15'.

Point of view: Mining sector — IFRS 15, the new revenue Standard could impact profile of revenue and profit recognition

09 Oct 2015

This publication highlights issues from the new revenue recognition standard that will be of interest to those in the mining sector.

IFRS 15 — ESMA believes the IASB has identified the right issues, calls for clear documentation of impacts of differences between IASB and FASB

08 Oct 2015

The European Securities and Markets Authority (ESMA) has commented on the IASB exposure draft ED/2015/6 'Clarifications to IFRS 15'.

FASB proposes clarifications to its new revenue standard

30 Sep 2015

The US Financial Accounting Standards Board (FASB) has issued a proposed ASU, 'Narrow-Scope Improvements and Practical Expedients', that would amend certain aspects of the Board’s May 2014 revenue standard, ASU 2014-09, 'Revenue From Contracts With Customers'.

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.