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IFRS 15 - Revenue Recognition Redefined for All Industries

  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL
CPE Webinar on IFRS 15 Revenue Recognition

3 Credits

$30

Subject Area

Accounting

Webinar Qualifies For

3 CPE credit of Accounting for all CPAs

3 CPE credit for Certified Management Accountants (CMA)

3 CPE credit for Certified Internal Auditors (CIA)

3 CPE credit for Internal Audit Practitioner (IAP)

3 CPE credit for Qualification in Internal Audit Leadership (QIAL)

3 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

The objective of IFRS 15 is to establish the principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue and cash flows arising from a contract with a customer.

IFRS is aimed to bring consistency in reporting across industries and ensure relevant information is available to users making decision.

In this CPE course we will discuss the core principle of IFRS 15 that is how an entity will recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

This core principle is delivered in a five-step model:

  • Identify the contract(s) with a customer
  • Identify the performance obligations in the contract
  • Determine the transaction price
  • Allocate the transaction price to the performance obligations in the contract
  • Recognize revenue when (or as) the entity satisfies a performance obligation

Learning Objectives

  • To describe the basic elements of IFRS 15
  • To discuss 5 step model of revenue recognition.
  • To explore practical challenges that are faced by organizations in implementing the standard
  • To review the guidelines on how to implement IFRS 15.
  • To review the disclosure requirements in IFRS 15

Who Should Attend?

  • Accountant
  • CEO
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA