Deloitte publishes guide to new revenue standard

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22 Mar 2018

Deloitte has issued 'Revenue from Contracts with Customers — A guide to IFRS 15'. As the IASB's new revenue standard is now effective (for periods beginning on or after 1 January 2018 with earlier adoption permitted), this detailed guide helps entities consider the impact of the new standard. In some cases, IFRS 15 will require significant changes to systems and may significantly affect other aspects of operations.

This 254-page 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. More specifically, the guide covers:

  • all of the requirements of IFRS 15, supplemented by interpretations and examples to give clarity to those requirements;
  • pointers regarding practical issues that are likely to arise;
  • illustrative disclosures for entities that have adopted IFRS 15;
  • and a comparison with US Generally Accepted Accounting Principles (US GAAP).

Please click to download Revenue from Contracts with Customers — A guide to IFRS 15.

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