SHORT DESCRIPTION

Overview of the new IFRS 15 Revenue from Contracts with Customers and its impact on related standards.

WHAT YOU WILL LEARN

By the end of this webinar the participant should:   

• Understand the purpose of IFRS 15.;   
• Know how to apply the five-step recognition method;    
• Know how to present revenue from contracts with customers in the AFS.; and   
• Understand the disclosure of revenue from contracts with customers. 

DESCRIPTION

Several accounting pronouncements, including IAS 18 Revenue, have been superseded by the new IFRS 15 Revenue from Contracts with Customers. This standard requires revenue to be accounted for by means of the application of the “five-step revenue recognition model”.    

Seeing that every business entity generates revenue to sustain itself, it is essential that this new accounting standard relating to the accounting treatment of revenue, is properly understood by all preparers of AFS.   

PRICE

The following pricing apply:
Ad hoc: R475.00
Subscription: N/A.

CONTENT

Study Unit 1

IFRS 15 overview

Study Unit 2

Superseded standards

Study Unit 3

Presentation in the AFS.

Study Unit 4

Five-step recognition:

• Identify the contract
• Identify performance obligations
• Determine transaction price
• Allocate transaction price; and
• Recognise the revenue

Study Unit 5

Disclosure

REQUIREMENTS

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date

PRESENTER

Anton van Wyk M.Com, CA(SA)   

Anton van Wyk is a chartered accountant and independent consultant in International Financial Reporting Standards (IFRS and IFRS for SMEs). As former subject head of Financial Accounting at various higher education providers (including the University of Johannesburg and Monash University South Africa), he has gained valuable insights into and understanding of the important principles underlying the International Financial Reporting Standards (IFRS).   

Anton is a well-known and popular presenter who has presented numerous IFRS updates for several accounting bodies across South Africa. He is known for his ability to simplify and highlight the most important principles contained in IFRS, whilst keeping the learning process enjoyable for attendees.  

ADDITIONAL MATERIAL

By attending this webinar, you will be provided with:
– Summarised slide presentation.
– Reference documents and / or course material where available.
– Access to a technical knowledge base.
– Recorded webinar that includes an expert presenter and participant interaction.