Description:
IFRS 15 in Practice is a practical field guide to applying the five-step revenue recognition model in real-world contracts. Rather than simply explaining the Standard, it focuses on the judgements, processes, systems and controls that finance professionals need to make revenue recognition repeatable and audit-ready.
The book covers contract identification, performance obligations, variable consideration and the constraint, significant financing components, principal-versus-agent assessments, licences, disaggregation, contract assets and liabilities, contract costs, modifications, and over-time versus point-in-time recognition.
Through realistic composite case studies, decision checkpoints, practical workshops and ready-to-use templates, readers learn how to move from contract terms to accounting conclusions, disclosures and evidence. The guide also addresses the systems and data infrastructure needed to connect contracts with revenue recognition and reporting.
Designed for accountants, auditors, financial controllers, CFOs, finance managers, academics and advanced accounting students, IFRS 15 in Practice provides a compact, practical route from the five-step model to confident application and first reporting.