IFRS 15: Revenue from contracts with customers
IFRS 15 replaced the previous revenue standards IAS 18 (Revenue) and IAS 11 (Construction contracts) and their related guidance effective 1 January 2018.
For financial reporting, revenue recognition is arguably one of the most important and controversial topics.
This webinar has been designed to provide participants with an understanding of the key principles in respect of the accounting for Revenue under IFRS 15.
By the end of the webinar the participant should:
- Be able to identify a contract or part of a contract within the scope of IFRS 15;
- Be able to apply the five-step approach to recognise and measure revenue;
- Know how to present revenue from contracts with customers in the Annual Financial Statements; and
- Understand the key principles of when revenue is taxed under the Income Tax Act.
The business disruptions associated with the COVID-19 pandemic and impact of financial difficulties experienced by entities and their customers, may require entities to consider other facts that they normally would not when assessing revenue from contracts with customers. During the session we will also point out the additional factors to consider when assessing revenue from contracts with customers as a result of COVID-19.
This session will cover both the theory associated with the above topics as well as practical examples.
The webinar will contribute to 3 hours CPD/CPE.
Cost:
R948.75 (inclusive of VAT) / R825.00 (exclusive of VAT)