The IASB has published a webcast which discusses the new revenue recognition model in IFRS 15 Revenue from Contracts with Customers. This is in conjunction with many companies will shortly publish full-year IFRS 15 revenue and disclosures for the first time in 2019.
In this webcast for investors, Nick Anderson, member of the International Accounting Standards Board (IASB), and investor engagement member Sid Kumar, CFA, outline the information companies will provide about their revenue in financial statements and notes prepared under IFRS 15.
Nick and Sid draw on several case studies to explain the new revenue recognition model and the changes resulting from its application. They also discuss disclosure requirements introduced by IFRS 15, including those relating to the disaggregation of revenues, the use of judgements and estimates, and contract assets and liabilities. Investors may find this information useful as they adjust to the new reporting requirements.
The webcast can be viewed from the IASB website.
Source: IASB, 14 February 2019