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IFRS 15 - Revenue Recognition Standard - Changes and Challenges

  • ACCT/BK
  • CPA/ABV
  • CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • IAP
  • QIAL
  • ACCA
  • CIPM
  • CBA/MCBA
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: March, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Identify the contract with the customer
    12 mins
  • What typically happens now?
    18 mins
  • Identify the contract with the customer
    31 mins
  • Identify the separate performance obligations
    46 mins
  • Determine the transaction price
    65 mins
  • Example of transaction price
    73 mins
  • Revenue over time vs. At the point of time
    105 mins
  • Presentation and disclosure
    123 mins

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

The core principle of IFRS 15 is that 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


Click here to explore more webinars on IFRS.

Learning Objectives

  • To discuss the basic elements of IFRS 15.
  • To explain 5 Step model of revenue recognition.
  • To analyze the practical challenges faced by the organizations in implementing the standard.
  • To discuss guidelines on how we can implement the standard.
  • To analyze disclosure requirements in IFRS 15.

Recommended For

  • This CPE course for CPAs is recommended for CMAs, CIAs, CPAs, IAPs, QIALs, CBA/MCBA, FPACs, Chief Accounting Officers, Financial Reporting Directors, CEOs, Accountants, and Other Professionals who want to understand everything about the latest revenue recognition standard.

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2.5 CPE Credit for Certified Internal Auditors (CIA)
  • 2.5 CPE Credit for Certified Management Accountants (CMA)
  • 2.5 CPD Credit for Certified Financial Forensics (CFF)
  • 2.5 CPE Credit for Certified Fraud Examiner (CFE)
  • 2.5 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2.5 CPE Credit for Certified Valuation Analyst (CVA)
  • 2.5 PL Credit for Chartered Financial Analyst (CFA)
  • 2.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 2.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2.5 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 2.5 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2.5 CRE Credit for Certified Corporate FP&A Professional (FPAC)
  • 2.5 CPD Credit for Accredited in Business Valuation (ABV)
  • 2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2.5 CE Credit for Certified Wealth Strategist (CWS)
  • 2.5 General Credit for Accountant/Bookkeeper (ACCT./BK)
  • 2.5 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 2.5 CPD Credit for CPA - Ireland
  • 2.5 CPD Credit for Chartered Accountants - Scotland
  • 2.5 CPD Credit for Chartered Accountants - ICAEW
  • 2.5 CPD Credit for Chartered Certified Accountants (ACCA)

Additional details

  • Course Level :
    Basic
  • Credits :
    2.5
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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Presenter

About Presenter

Manish Gupta

Founder & CEO, VITTPRO

Energetic, ambitious and Result-oriented professional, offering +15 years of extensive experience in Management, operations, Finance, Audit, Risk management, marketing and Customer experience.

Manish has hands-on experience in Monthly Reporting and Pnl Analysis, Budgeting and strategic planning.

Passionate for learning and development, thinking in innovative and non-traditional ways, Manish is your business partner for growth.

Manish is experienced with leading projects for change. He has led ERP implementation for 16 hotels in Htoo Group.

Manish is focused, display positive attitude and Topline growth approach towards business problems. He believes in efficiencies and lean management.

He is also on his Entrepreneurial journey and founded https://ehotelmanagementschool.com for sharing knowledge and experience via online classes and sessions. Startup also help small hotels and other startups with finance and management consulting.

About Company

VITTPRO

Vittpro is professional accounting and finance company for helping small business manage their accounting and finance function with ease and gain insights from data.

Faq

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