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Revenue from Contracts with Customers — A guide to IFRS 15

Published on: 21 Mar 2018

The IASB’s Standard IFRS 15 Revenue from Contracts with Customers is now effective (for periods beginning on or after 1 January 2018 with earlier adoption permitted). It is imperative that entities take time to 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 detailed 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 detailed 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).


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