All IFRS 15 publications

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

Roadmap: Revenue Recognition (2023)

01 Dec 2023

This Roadmap provides Deloitte’s insights into and interpretations of the guidance in ASC 606 on revenue from contracts with customers, the cost guidance in ASC 340-40, and the guidance in ASC 610-20 on gains and losses on transfers of nonfinancial and in-substance nonfinancial assets to noncustomers. The 2023 edition includes updated and expanded discussions as well as new sections and illustrative examples. Appendix F of the Roadmap highlights substantive revisions to previous content.

Deloitte comment letter on the IASB’s request for information on the post-implementation review of IFRS 15

30 Oct 2023

Overall, we believe that IFRS 15 has been effective and that the core principle and the supporting five-step revenue recognition model provide a clear and suitable basis for revenue accounting.

iGAAP in Focus — Financial reporting: IASB seeks views on the post-implementation review of IFRS 15

03 Jul 2023

This 'iGAAP in Focus' outlines the request for information 'Post-implementation Review of IFRS 15 'Revenue from Contracts with Customers'', published by the International Accounting Standards Board (IASB) in June 2023.

Deloitte comment letter on tentative agenda decision on principal versus agent software reseller

07 Feb 2022

We have commented on the IFRS Interpretations Committee's publication in the December 2021 Update of the tentative agenda decision (TAD) not to take onto the Committee’s agenda the request for clarification on whether, in applying IFRS 15, a reseller of software licenses is a principal or agent.

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.

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.

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.

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.

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.

IFRS in Focus — Disclosing the new adoption of accounting standards in interim financial statements

11 May 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.

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 — 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 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 — 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.

Heads Up — Adopting the new revenue standard — Where do companies stand?

04 Apr 2017

This Heads Up discusses certain considerations related to implementing the FASB’s new revenue standard, "Revenue From Contracts With Customers." The discussion compares the results of a 2016 Deloitte-sponsored survey to previously reported results from Deloitte’s 2015 survey, in which respondents were asked various questions pertaining to their readiness to adopt the standard’s provisions.

Financial Reporting Alert 17-5 — SEC reemphasizes its continued focus on the new revenue standard, including advancing ICFR

04 Apr 2017

In a speech at the 13th Annual Life Sciences Accounting & Reporting Congress on March 21, 2017, SEC Chief Accountant Wesley Bricker reminded registrants of the importance of implementing the FASB’s new revenue standard in a timely manner and of providing the transition disclosures required by SEC Staff Accounting Bulletin (SAB) Topic 11.M (SAB 74) before adoption. Mr. Bricker also stressed the key role of internal control over financial reporting (ICFR) in the standard’s successful implementation.

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.