IFRS 15 Contracts with customers

13 January 2017

On 28 May 2014, the International Accounting Standards Board (IASB) published IFRS 15 Revenue from Contracts with Customers. IFRS 15 sets out a single and comprehensive framework for revenue recognition and, for many entities, the timing and profile of revenue recognition will change. In some areas, the changes will be very significant and will require careful planning.

New version of IFRS in Practice updates the version we published in July 2016 to include some additional examples and also includes new sections comparing IFRS 15 with currently applicable IFRS and US GAAP (Topic 606).