• IFRS 15

IFRS 15 Revenue from Contracts with Customers


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

Impacts of IFRS 15 Adoption

The effect of adopting the new revenue standard raises many questions such as:

  • How will revenue recognition be impacted?
  • Which processes and systems will need changing?
  • Which wider business planning activities will be affected?
  • What staff training will be required?
  • How will current agreements be affected?


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 Red denotes a high level of potential impact and complexity.
Amber Amber denotes a medium level of potential impact and complexity.
Green Dark teal denotes a low level of potential impact and complexity.




Step 1
Identify the contract

Step 2
Determine the performance obligations

Determine consideration

Step 4
Allocate consideration

Step 5
Recognise revenue


Green Green Red Green Red Amber


Green Amber Red Red Red Amber


Red Red Red Red Red Red


Green Amber Red Amber Red Amber


Red Red Red Red Amber Red

Building and construction

Amber Amber Amber Red Amber Red

Residential real estate construction

Amber Red Red Red Red Red


Green Red Amber Red Amber Amber


Red Green Amber Red Amber Amber

Professional Services

Amber Red Red Red Red Red


More information on IFRS 15 can be found under Accounting Standards Training and IFRS Publications.