A shift in the top line – the new global revenue standard is here at last

The IASB has published IFRS 15, which:

  • replaces IAS 18, IAS 11 and some revenue-related interpretations;
  • establishes a new control-based revenue recognition model;
  • changes the basis for deciding whether revenue is recognized at a point in time or over time;
  • provides new and more detailed guidance on specific topics;
  • expands and improves disclosures about revenue.

This special edition of IFRS Newsletter explains the key features of the new standard and provides practical insights into its application and impact.

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