What Is A Contract Asset Under IFRS 15?
IFRS 15 – Revenue from Contracts with Customers has been effective since 1st January, 2018. It introduced the five-step model to revenue recognition and created a new category of assets called “Contract Asset”. In this article, we consider contract assets and show how they differ…
IFRS 15 – Revenue from Contract with Customers: The Five Step Model?
IFRS 15 – Revenue from Contracts with Customers (IFRS 15), which became effective from 1 January 2018, makes significant changes to accounting for revenue. In this article we highlight the fundamental changes introduced by IFRS 15 and use a case to show the steps in…
IFRS 15 – Revenue from Contracts with Customers: What is A Contract?
International Financial Reporting Standard (IFRS) 15 – Revenue from contracts with customers came into effect on 1 January 2018. It defines revenue and sets the rules for recognizing, measuring and disclosing revenue from contracts with a customer. Having a contract with a customer is a…
English 
