Tag Archives: contracts with customer

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 precondition for applying IFRS 15. So, what is a contract? […]