IFRS 15 Revenue from Contracts with Customers | February 2026

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IFRS 15 Revenue From Contracts With Customers | February 2026

Insights

IFRS | Certification

Published on February 19, 2026

• 1 min read

Revenue recognition is fundamental in all businesses, and it is important that it is recognized in a consistent and comparable way across industries and capital markets. IFRS 15 Revenue from Contracts with Customers was a result of the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) joint project to improve the financial reporting of revenue under the IFRS Accounting Standards and US GAAP. The standard makes it clear that its purpose is not to redefine the concept of revenue, but rather to ensure that revenue is consistently recognized at the appropriate time and at the most reliable amount.

The Insights into IFRS 15 series summarizes the key areas of the standard, highlighting some areas that are challenging to apply in practice, to assist reporting entities in understanding how to apply IFRS 15’s requirements.

The first publication included in this release focuses on the objective and scope of IFRS 15. The second publication focuses on the first step of the five-step model for revenue recognition and explains how to identify a contract with a customer as well as what constitutes a contract within the scope of the standard. The publications are as follows:

Overview and scope;
Step 1: Identifying a contract with a customer.

Insights into IFRS 15 Revenue from Contracts with Customers | February 2026

Download the document Adviser_Alert_Insights_into IFRS_15_Feb_2026_P

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