By the end of this course, you will have a thorough and practical understanding of IFRS 15, the global standard for Revenue from Contracts with Customers, developed jointly by IASB and FASB (also issued in the U.S. as ASC 606).

Here's what you’ll master:

1. The 5-Step Revenue Recognition Model

• Identify contracts with customers

• Identify performance obligations

• Determine transaction price

• Allocate transaction price to obligations

• Recognize revenue when (or as) performance is satisfied

Each step is explained with real-life examples and journal entries.

2. Revenue Recognition Over Time vs Point-in-Time

• Understanding how and when to recognize revenue under various types of contracts (construction, SaaS, licensing, etc.)

• Apply the criteria for recognizing revenue over time using input/output methods

• Know when revenue must be recognized at a point in time

3. Contract Types and Complex Scenarios

• Multi-element contracts (bundled goods/services)

• Contract modifications and variable consideration

• Discounts, rebates, refunds, and returns

• Significant financing components and non-cash consideration

4. Practical Application with Journal Entries

• Learn how IFRS 15 impacts financial statements and disclosures

• Practice real-world accounting entries for different business scenarios

• Understand how to implement the standard in ERP/accounting systems

5. Real MCQs & Case-Based Questions

• Solve exam-level and interview-style multiple-choice questions

• Test your application and conceptual clarity on every topic

• Prepare yourself for job roles involving revenue accounting, audit, or reporting

Why IFRS 15 Matters

• Revenue is one of the most critical KPIs for any business

• It’s directly linked to investor confidence, profitability, and regulatory compliance

• A must-know for anyone working in accounting, FP&A, audit, or finance leadership roles

• Enhances your ability to work with cross-border or multinational companies where IFRS or convergence with IFRS is standard