The IFRS 15 Revenue Recognition: Understanding Changes and Overcoming Challenges course provides an in-depth exploration of the International Financial Reporting Standard (IFRS 15) and its impact on financial reporting. You’ll start by understanding the core principles of IFRS 15, its objectives, and the reasons behind the global shift toward this unified standard. Early lessons cover the five-step revenue recognition model, which forms the foundation for identifying, measuring, and recognising revenue in accordance with IFRS 15.

Through clear explanations and practical examples, you’ll learn how to apply each of the five steps in detail — from identifying contracts with customers and determining separate performance obligations to allocating transaction prices and deciding the timing of revenue recognition. The course highlights how IFRS 15 differs from previous standards like IAS 18 and IAS 11, showing you how to adapt accounting policies, systems, and reporting processes accordingly.

In addition to the fundamental model, the course explores specific guidance areas such as warranties, customer loyalty programmes, upfront fees, licences, returns, and bill-and-hold arrangements. You’ll gain insights into how these factors influence contract assets, liabilities, and disclosures. The lessons also cover transition methods, presentation requirements, and how to handle complex scenarios during implementation.

By the end of the course, you’ll have a solid understanding of how IFRS 15 affects revenue recognition across industries, the challenges it presents, and the strategies used by successful organisations to ensure compliance. You’ll be equipped to apply the standard confidently, prepare accurate financial statements, and make informed judgments that align with best practices in international accounting.