IFRS Update-IFRS 15 Revenue from contracts with customers

Location
UAE, Dubai
Dates
Dates flexible (5 days)
Course Type
Professional Training Course
Accreditation
Yes (Details)
Language
English
Price
$4,500

Course Overview

Currently IFRS consists of two principles-based standards, IAS 18 Revenue and IAS 11 (Construction Contracts) and three IFRS Interpretations. These were criticised for failing to provide adequate guidance on application - they have been described as ‘vague and inconsistent’. The IASB and the US Financial Accounting Standards Board (FASB) collaborated on a project to develop improved, converged standards for revenue recognition. Preparers must develop a policy for measuring the amount and timing for recognising revenue for goods and services. Revenue is a key performance indicator that drives the recognition of expenses and profits and valuation of an entity.

Who should take this course

The course is applicable to treasury staff, industry controllers, accountants, analysts, internal and external auditors and other finance professionals who are interested in learning the impending changes to the new Standards, all preparers of financial statements.

Accreditation

CPD (Continual Professional Development) accredited by the CPD

Course content

Learn the scope of the new revenue recognition standard Apply the five steps to recognise revenue Understand the required changes to measurement of revenue Plan how to implement the transition Identify new presentation and disclosure requirements Comply with the new accounting and disclosure requirements for leases Analyse contracts to determine whether they contain leases Apply the rules for initial and subsequent measurement by lessors and lessees Plan for the implications of the new accounting standards for leases

About Course Provider

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