IFRS 15 - Revenue Recognition (VO)
The course provides participants with an understanding of the new five-step revenue recognition framework under Part I – International Financial Reporting Standards (IFRS) 15 and how to apply it.
Watch a qualified CPA instructor teaching the course and access a copy of the same course material that is provided to attendees of an in-person session.
After registering for a Video on Demand course, CPA Saskatchewan will send you information on how to access the course within 2 business days.
Click HERE for more information on Video-On-Demand courses
The course will address disclosure requirements, transitional requirements, and key judgments in applying the standard.
WHO WILL BENEFIT:
Professional accountants who are responsible for revenue recognition oversight and the accounting and/or auditing thereof.
Participants will develop a strong understanding of:
- The scope of IFRS 15, including transitional requirements
- The 5-step model framework, including how to apply it
- step 1: identify the contract with the customer
- step 2: identify the performance obligations
- step 3: determine the transaction price
- step 4: allocate the transaction price
- step 5: recognize revenue, including how and when
- Disclosure and presentation requirements
- Other application guidance on various topics such as warranties, licences, capitalization of costs of obtaining and fulfilling a contract, contract modifications etc.
- Conversion considerations, industries significantly impacted and current developments
Participants should pre-read IFRS 15, Revenue from Contracts with Customers, contained in the CPA Handbook – Accounting Part I.
||Estimated Hours: Total - 7 Licensing- 7