Mastering IFRS 15: Revenue from Contract with Customers
Your one-stop solution for a comprehensive understanding of IFRS-15 Revenue from Contract with Customers
Finance and Accounting,Accounting and Bookkeeping,Accounting
Lectures -21
Duration -8 hours
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Course Description
This course offers an all-inclusive education about IFRS 15, inclusive of recognition of revenues and management of contracts. Whether a finance professional, an auditor, or a student, hoping to find ways to increase accounting knowledge, this course will arm you with fundamental tools to navigate the complexities related to revenue recognition.
You are going to learn how to identify performance obligations, make allocations of transaction prices, and recognize revenue following the principles outlined in IFRS 15, using simple language and examples. The course is going to capture real-life scenarios that you can use to apply learned concepts to real business situations, thereby acquiring a theoretical and practical insight.
The course is designed for all experience levels, so it does not require any pre-knowledge about IFRS standards. This course will be very convenient for beginners as well as advanced material for experienced professionals. If you are involved in financial reporting, contract management, or consultancy, this course will give you confidence regarding IFRS 15 and better insight into revenue-related transaction management.
On successful completion of this course, you will be able to ensure correct application of IFRS 15 in your professional daily activities; enhance the accuracy of your financial reporting; and improve the management of customer contracts. Let's learn IFRS 15 with us and elevate our professional skills in revenue recognition.
Goals
1. Understand the key concepts of IFRS 15 and its application on revenue recognition
2. Learn how to identify and define performance obligations in customer contracts
3. Get hands-on skills in allocating transaction prices toward different performance obligations
4. Learn how to determine whether to use a time basis or at a point in time basis for revenue under contract.
This course is an all-inclusive education regarding IFRS 15, which includes recognizing revenue and managing contracts. Whether you are a finance professional, an auditor, or a student looking to find ways to increase your accounting knowledge, this course will arm you with fundamental tools that help navigate the complexities surrounding the new revenue recognition.
On completing this module, you will learn about identifying performance obligations, making allocations of transaction prices, and recognizing revenue based on the principles in IFRS 15 in simple language, using examples, and real-life scenarios. Conceptual ideas can be applied to real business situations and gain insight into the course both theoretically and practically.
Prerequisites
There are no specific prerequisites for taking this course. A basic understanding of accounting principles may be helpful but is not required. The course is designed to be accessible to learners at all levels, including beginners who are looking to deepen their knowledge of IFRS 15 and revenue recognition.

Curriculum
Check out the detailed breakdown of what’s inside the course
Overview of IFRS 15
1 Lectures
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Overview of IFRS 15 - The Five Step Model for Revenue Recognition 20:35 20:35
Step 1 - Identify the Contract with the Customers
2 Lectures

Step 2 - Identify the Performance Obligations in the Contract
3 Lectures

Step 3 - Determine the Transaction Price
8 Lectures

Step 4 - Allocate the Transaction Price to each Performance Obligation
2 Lectures

Step 5 - Recognize Revenue As and When Each Performance Obligation Is Satisfied
1 Lectures

Additional Consideration
4 Lectures

Instructor Details

Murtaza Quaid
Course Certificate
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