How do you apply IFRS 15 to construction contracts?

Dec 4, 2024 ... Ferreira, A. (2020). The Impact of IFRS 15 on the Telecommunications SectorThe Case of Portuguese and Spanish Listed Companies. Jun 26, 2020 ... We conclude that IFRS 15 has led to much effort in implementing the standard, but that, in terms of the impact on reported revenue in the income ... IFRS 15 introduces a five-step model of revenue recognition, for common to all types of transactions, to all companies and industries. Effective January 1, 2018, Kinaxis adopted IFRS 15, which impacts the revenue recognition of subscription agreements where the software is delivered on-premise. This article attempts to highlight the way in which this standard has, and may, affect the manner in which construction companies in Nigeria recognise revenue. Sep 14, 2016 ... For companies with real estate development, property management or construction activities, IFRS 15 replaces several familiar standards and ... What is IFRS 15 compliance? · Identify contracts with customers · Identify performance obligations · Determine the transaction price · Allocate the transaction ... Here, we summarise the following five steps of revenue recognition and illustrative practical application for the most common scenarios. IFRS 15 sets out a single and comprehensive framework for revenue recognition, The guidance in IFRS 15 is considerably more detailed than existing IFRSs for ... Our handbook will help you interpret and apply IFRS 15 to your revenue-related transactions in this fast-changing world.