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

United States Image

SEC may propose a new approach to IFRS in the United States

04 Dec 2014

At a recent conference on the future of financial reporting hosted by the United States Chamber of Commerce, Mr Jim Schnurr, Chief Accountant at the Securities and Exchange Commission (SEC), provided some insights into the possible way forward for International Financial Reporting Standards (IFRSs) in the United States, suggesting that another approach to IFRSs in the United States may be forthcoming in the near future. He also gave some views on the revenue recognition and leases convergence projects.

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Japan updates list of 'designated' IFRSs

17 Nov 2014

The Financial Services Agency (FSA) of Japan has announced that additional IFRSs were designated for use by companies voluntarily applying IFRSs in Japan. The announcement effectively includes all IASB pronouncements issued up to 30 June 2014.

IFRS Foundation (blue) Image

IFRS Foundation updates the IFRS Taxonomy

12 Nov 2014

The IFRS Foundation has published IFRS Taxonomy 2014 Interim Release 2 which updates the taxonomy for IFRS 15 and common reporting practice in transport and pharmaceuticals sectors.

IFRS in Focus — Joint meeting on Revenue (October 2014) Image

IFRS in Focus — Joint meeting on Revenue (October 2014)

10 Nov 2014

This newsletter provides summarises the October 2014 meeting of the IASB and FASB joint revenue transition resource group.

IFRS in Focus — Joint meeting on Revenue (July 2014) Image

IFRS in Focus — Joint meeting on Revenue (July 2014)

10 Nov 2014

This newsletter provides summarises the July 2014 meeting of the IASB and FASB joint revenue transition resource group.

Healthcare sector focus: New revenue recognition model Image

Healthcare sector focus: New revenue recognition model

06 Nov 2014

This infographic publication from Deloitte (South Africa) summarises the potential impacts of IFRS 15 'Revenue from Contracts with Customers' in the manufacturing sector.

Manufacturing sector focus: New revenue recognition model Image

Manufacturing sector focus: New revenue recognition model

06 Nov 2014

This infographic publication from Deloitte (South Africa) summarises the potential impacts of IFRS 15 'Revenue from Contracts with Customers' in the manufacturing sector.

Energy and resources focus: New revenue recognition model Image

Energy and resources focus: New revenue recognition model

06 Nov 2014

This infographic publication from Deloitte (South Africa) summarises the potential impacts of IFRS 15 'Revenue from Contracts with Customers' in the energy and resources sector.

TMT sector focus: New revenue recognition model Image

TMT sector focus: New revenue recognition model

06 Nov 2014

This infographic publication from Deloitte (South Africa) summarises the potential impacts of IFRS 15 'Revenue from Contracts with Customers' in the TMT sector.

Financial services sector focus: New revenue recognition model Image

Financial services sector focus: New revenue recognition model

06 Nov 2014

This infographic publication from Deloitte (South Africa) summarises the potential impacts of IFRS 15 'Revenue from Contracts with Customers' in the financial services sector.

Consumer business focus: New revenue recognition model Image

Consumer business focus: New revenue recognition model

06 Nov 2014

This infographic publication from Deloitte (South Africa) summarises the potential impacts of IFRS 15 'Revenue from Contracts with Customers' in the consumer business industry.

TRG Snapshot — Joint meeting on revenue: October 2014 Image

TRG Snapshot — Joint meeting on revenue: October 2014

04 Nov 2014

This TRG Snapshot summarizes the October 31, 2014, meeting of the joint FASB and IASB transition resource group (TRG) on revenue recognition, which was formed to discuss and analyze potential issues that preparers may face when implementing the boards’ new revenue standard.

TRG meeting (mid blue) Image

FASB announces outreach plan to assess effective date of new revenue guidance

31 Oct 2014

At today’s meeting of the FASB/IASB joint transition resource group for revenue recognition, James Kroeker, the FASB vice chairman, announced that the FASB and its staff plan to conduct further outreach with both public and private companies over the next several months to gauge their progress in preparing to implement the guidance in ASU 2014-09 (equivalent to the IASB's IFRS 15 revenue standard).

Oil & Gas Spotlight — Fueling discussion about the FASB’s new revenue recognition standard Image

Oil & Gas Spotlight — Fueling discussion about the FASB’s new revenue recognition standard

23 Oct 2014

This Oil & Gas Spotlight discusses the new revenue model and highlights key accounting issues and potential challenges for O&G entities that recognize revenue under U.S. GAAP or IFRSs.

TRG meeting (mid blue) Image

Agenda for the Joint Transition Resource Group for Revenue Recognition meeting

20 Oct 2014

The agenda has been released for the second 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 31 October 2014. 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).

EFRAG (European Financial Reporting Advisory Group) (dk green) Image

Updated EFRAG endorsement status report for draft endorsement advice letter on IFRS 15

15 Oct 2014

The European Financial Reporting Advisory Group (EFRAG) has updated its Endorsement Status Report to include its draft endorsement advice letter on IFRS 15 'Revenue from Contracts with Customers'.

EFRAG endorsement status report 15 October 2014 Image

EFRAG endorsement status report 15 October 2014

15 Oct 2014

This endorsement status report from the European Financial Reporting Advisory Group (EFRAG) reflects the issuance of a draft endorsement advice letter on IFRS 15 'Revenue from Contracts with Customers'.

Aerospace & Defense Spotlight — The converged revenue recognition model has landed Image

Aerospace & Defense Spotlight — The converged revenue recognition model has landed

22 Sep 2014

This Aerospace & Defense Spotlight discusses the new revenue model and highlights key accounting issues and potential challenges for A&D entities that recognize revenue under U.S. GAAP or IFRSs.

Real Estate Spotlight — E&C entities prepare to implement the converged revenue model Image

Real Estate Spotlight — E&C entities prepare to implement the converged revenue model

22 Sep 2014

This Real Estate Spotlight discusses the new revenue model and highlights key accounting issues and potential challenges for E&C entities that recognize revenue under U.S. GAAP or IFRSs.

IASB document (blue) Image

IASB publishes editorial corrections

19 Sep 2014

The International Accounting Standards Board (IASB) has published its second batch of editorial corrections for 2014. The corrections impact a previous editorial correction, consequential amendments, stand-alone standards, and the IASB's "A Guide Through IFRS 2013", "2014 IFRS (Blue Book)", and "2014 IFRS (Red Book)".

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.