How does IFRS 15 address the disclosure of changes in contract assets and contract liabilities?

IFRS 15 is the 'revenue from contracts with customers' standard and is to be applied as of 1 January 2018, though early application is permitted. The ... Jul 6, 2018 ... IFRS15 “Revenue”: This accounting standard increases IFRS revenue insofar as certain costs re-billed directly to clients are excluded from ... Nov 1, 2022 ... When IFRS 15 Revenue from Contracts with Customers came into effect in 2018, the global economy looked very different. Free Goods given to customers, as part of a sale arrangement, is recorded as Trade Terms or Rebates to customers, under IFRS 15, which represents a deduction of ... Nov 22, 2018 ... This model is designed to illustrate how a change to revenue recognition due to the adoption of IFRS 15, can impact not only current period revenue and profit, ... The FRC considers there is still considerable scope for improving disclosures to meet the disclosure objective in IFRS 15. The new IFRS rules will be applicable for periods beginning on or after 1 January 2018. Here we look at the question of whether it's possible to avoid ... It sets the principles for reporting the information about the revenues about: It describes the five-step model for revenue recognition and provides guidance ... IFRS 15 helps companies to identify the amount and timing of revenue for accounting purposes. For this purpose, the standards contain a five-step model with ... We highlight changes for the real estate industry in guidance on when to recognize revenue arising from contracts with customers.