IFRS 15 Revenue from Contracts with Customers fundamentally changes the financial reporting landscape for how entities recognise revenue.
Most entities will face significant challenges when they prepare their financial statements using this new accounting standard. The changes can be complex and can have effects beyond just the accounting treatment. When adopting IFRS 15, including deciding which transition route to apply, entities need to consider both the commercial impacts on their business as well as any changes that need to be made to business processes and accounting systems.
Our IFRS 15 experts can help you determine the impact of the new standard on your reported earnings.
Steps to Implementation
IFRS 15 – Industry Heat Map
As a guide the heat map below considers the relative level of impact and complexity when adopting IFRS 15.
|Red denotes a high level of potential impact and complexity.
|Amber denotes a medium level of potential impact and complexity.
|Dark teal denotes a low level of potential impact and complexity.
Building and construction
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