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 IFRS 15 - REVENUE FROM CONTRACTS WITH CUSTOMERS


   



You are invited to attend our workshop on either of the following dates:

  • Ø Monday July 7th at the Royal Hotel in San Fernando OR
  • Ø Tuesday July 8th at the Marriott Hotel, Port of Spain



Last month, the IASB and FASB issued a converged standard on Revenue from Contracts with Customers

The new standard will replace IAS 11 Construction Contracts and IAS 18 Revenue and has implications for, inter alia:

  • The timing of revenue recognition
  • Extensive use of estimates
  • The approach to recording of fees for licensing intellectual property
  • Accounting and information systems & processes

Several amendments have been made to previously issued drafts and the IASB and FASB have now come to agreement on the final standard.



During this interactive session, we explore current provisions and compare & contrast them with the new provisions. We also use cases, exercises, worked examples and discussion to familiarize you with the key aspects of the forthcoming standard.

Topics include:

  • Overview of existing standards
  • o IAS 11
  • § Recognition of contract revenue and expenses
  • § Recognition of expected losses
  • § Changes in estimates
  • o IAS 18
  • § Identification of the transaction
  • § Sale of goods
  • § Rendering of services
  • § Interest, royalties and dividends
  • Forthcoming standard
  • o Contract(s) with the customer
  • o Control
  • o Distinct goods or services
  • o Collectibility
  • o Constraint on revenue recognition
  • o Separate performance obligations in the contract
  • o Determination of the transaction price
  • o Allocation of the transaction price
  • o Recognition of revenue when a performance obligation is satisfied
  • o Onerous performance obligations
  • o Contract costs
  • o Combining and modifying contracts
  • o Variable consideration
  • o Warranties
  • o Time value of money
  • o Disclosure
  • Expected financial impact of new vs existing proposals

Each Workshop runs from 8:00AM to 4:30PM and qualifies for 7 CPD hours 


    

Cost: $1,500TT plus VAT - a total of $1,725 TT

 





 4 EASY WAYS TO REGISTER:

  • Please complete the attached registration form and email it to us at seminars@ifrs-consultants.com OR
  • Send us an email with details of registrants and desired programs at seminars@ifrs-consultants.com OR
  • Send us a fax with details of registrants and desired programs to (868)-622-2217 OR
  • Call us with your registration details at (868)-622-2217

   

For further information or to register, please contact:

IFRS Consultants (868)- 622-2217
email:
seminars@ifrs-consultants.com