Revenue resources

Drops in water

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 resources

TRG Snapshot — Joint meeting on revenue: March 2015 Image

TRG Snapshot — Joint meeting on revenue: March 2015

01 Apr 2015

This TRG Snapshot summarizes the March 30, 2015, meeting of the joint FASB and IASB transition resource group (TRG) on revenue recognition.

Heads Up — FASB tentatively decides to defer the new revenue standard for one year Image

Heads Up — FASB tentatively decides to defer the new revenue standard for one year

01 Apr 2015

This Heads Up discusses the FASB’s tentative decision to defer for one year the effective date of FASB Accounting Standards Update No. 2014-09, "Revenue From Contracts With Customers," for public and nonpublic entities reporting under U.S. GAAP.

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US FASB tentatively decides to defer the new revenue standard

01 Apr 2015

At its meeting today, the US Financial Accounting Standards Board (FASB) tentatively decided to defer for one year the effective date of the new revenue standard (ASU 2014-09 'Revenue From Contracts With Customers') for public and nonpublic entities reporting under US GAAP.

Implementing IFRS 15 'Revenue from Contracts with Customers' - A practical guide to implementation issues for the aerospace and defence industry Image

Implementing IFRS 15 'Revenue from Contracts with Customers' - A practical guide to implementation issues for the aerospace and defence industry

31 Mar 2015

This guide is intended to provide an overview of applying IFRS 15 within the aerospace and defence industry. 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.

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Implementing IFRS 15 'Revenue from Contracts with Customers' - A practical guide to implementation issues for the travel, hospitality and leisure sector

26 Mar 2015

This guide is intended to provide an overview of applying IFRS 15 within the travel, hospitality and leisure 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.

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Agenda for the Joint Transition Resource Group for Revenue Recognition meeting

23 Mar 2015

The agenda has been released for the upcoming meeting of the Joint Transition Resource Group for Revenue Recognition (TRG), which is being jointly held at the offices of the IASB and FASB on 30 March 2015. The TRG will discuss a number of topics related to the boards’ new revenue standard, “Revenue From Contracts With Customers” (issued as IFRS 15 by the IASB and ASU 2014-09 by the FASB).

Heads Up — FASB continues to clarify the new revenue standard Image

Heads Up — FASB continues to clarify the new revenue standard

20 Mar 2015

This Heads Up summarizes the tentative decisions made by the FASB and IASB at their joint meeting on March 18, 2015, to discuss implementation of the new revenue standard. The decisions were about practical expedients upon transition, sales tax presentation, noncash consideration, and collectibility.

EFRAG endorsement status report 18 March 2015 Image

EFRAG endorsement status report 18 March 2015

18 Mar 2015

This endorsement status report update reflects the issuance of the final EFRAG endorsement advice letter on IFRS 15 'Revenue from Contracts with Customers'. Final endorsement of IFRS 15 is currently expected in the third quarter of 2015.

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EFRAG recommends adoption of IFRS 15 without deferral of the 2017 effective date

18 Mar 2015

The European Financial Reporting Advisory Group (EFRAG) has submitted to the European Commission its endorsement advice letter on IFRS 15 'Revenue from Contracts with Customers'. As part of its assessment EFRAG considered whether it would recommend a deferral of the 1 January 2017 effective date included in IFRS 15 but decided against doing so.

'Implementing IFRS 15 Revenue from Contracts with Customers' - A practical guide to implementation issues for the industrial products and services sector Image

Implementing IFRS 15 'Revenue from Contracts with Customers' - A practical guide to implementation issues for the industrial products and services sector

09 Mar 2015

This guide is intended to provide an overview of applying IFRS 15 within the industrial products and services 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.

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IASB publishes editorial corrections

05 Mar 2015

The International Accounting Standards Board (IASB) has published a batch of editorial corrections that retract a previous correction and impact consequential amendments, stand-alone standards, and the IASB's “2014 IFRS (Red Book)”, "A Guide Through IFRS 2014", and "2015 IFRS (Blue Book)".

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Clearly IFRS — IASB and FASB Joint Transition Resource Group for Revenue Recognition: July 2014

27 Feb 2015

This publication from Deloitte (Canada) summarises the July 2014 meeting of the IASB and FASB Joint Transition Resource Group for Revenue Recognition (“TRG”).

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IASB and FASB discuss potential clarifications to joint revenue recognition guidance

20 Feb 2015

At their meeting on Wednesday, the IASB and FASB discussed issues that their joint revenue Transition Resource Group (TRG) has identified in connection with implementation of their converged standard, “Revenue From Contracts With Customers” (issued as IFRS 15 by the IASB and as ASU 2014-09 by the FASB). Specifically, the boards addressed whether to clarify certain aspects of the standard that seem to be causing implementation problems for some preparers.

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Heads Up — FASB and IASB tentatively decide to clarify the new revenue standard

19 Feb 2015

This Heads Up summarizes tentative decisions reached by the IASB and FASB at their joint meeting on February 18, 2015, concerning some implementation issues related to the new revenue standard. Specifically, the boards addressed issues concerning certain aspects of accounting for licenses of intellectual property and the identification of performance obligations.

Director's Series — Readiness self-assessment for directors: IFRS 15 Revenue from Contracts with Customer — Are you ready yet? Image

Director's Series — Readiness self-assessment for directors: IFRS 15 Revenue from Contracts with Customer — Are you ready yet?

12 Feb 2015

This Director's Series publication discusses implementation and application issues related to IFRS 15.

IFRS in Focus — Joint meeting on Revenue (January 2015) Image

IFRS in Focus — Joint meeting on Revenue (January 2015)

09 Feb 2015

This newsletter summarises the January 2015 meeting of the IASB and FASB joint revenue transition resource group.

TRG Snapshot — Joint meeting on revenue: January 2015 Image

TRG Snapshot — Joint meeting on revenue: January 2015

30 Jan 2015

This TRG Snapshot summarizes the January 26, 2015, meeting of the joint FASB and IASB transition resource group (TRG) on revenue recognition.

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Application of IFRS 15 to permitted Islamic finance transactions

16 Jan 2015

At the upcoming meeting of the Joint Transition Resource Group for Revenue Recognition (TRG), participants will discuss the implications of IFRS 15 for certain instruments common in the Islamic financial industry.

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Agenda for the Joint Transition Resource Group for Revenue Recognition meeting

15 Jan 2015

The agenda has been released for the third meeting of the Joint Transition Resource Group for Revenue Recognition (TRG), which is being jointly held at the offices of the IASB and FASB on 26 January 2015. The TRG will discuss a number of topics related to the boards’ new revenue standard, “Revenue From Contracts With Customers” (issued as IFRS 15 by the IASB and ASU 2014-09 by the FASB).

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Summary of November GPF meeting now available

09 Dec 2014

Minutes of the meeting of the Global Preparers Forum (GPF) with representatives of the International Accounting Standards Board (IASB) held in London on Thursday, 6 November 2014 are now available. The meeting discussed a broad range of topics, including a number of IASB active and research projects, and IFRS Interpretations Committee issues.

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.