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5-step Model for Revenue Recognition under IFRS 15 + Example + Journal entries

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Silvia of CPDbox

https://www.cpdbox.com
How to apply 5step model? This example deals with the typical telecom contract where the customer gets free mobile phone if he signs up for 12month plan of network services.
Journal entries included!

*Online IFRS course by Silvia, CPDbox: https://www.cpdbox.com/ifrskit/

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#ifrs #IFRS15 #ifrsaccounting

posted by a2uttui

IFRS 15 Revenue from Contracts with Customers summary applies in 2024

IFRS 15 Revenue from Contracts with Customers summary applies in 2024

IFRS 15 | Revenue Recognition| Revenue From Contract with Customers | IFRS Lectures

IFRS 15 | Revenue Recognition| Revenue From Contract with Customers | IFRS Lectures

PwC's IFRS 15 the basics – Introduction to the standard

PwC's IFRS 15 the basics – Introduction to the standard

Contract Asset (IFRS 15) vs. Trade Receivable what's the difference? CPDbox answers

Contract Asset (IFRS 15) vs. Trade Receivable what's the difference? CPDbox answers

IAS 41 Agriculture summary applies in 2024

IAS 41 Agriculture summary applies in 2024

Journal Entries Hacks . Two Methods to NEVER forget Debits and Credits

Journal Entries Hacks . Two Methods to NEVER forget Debits and Credits

IAS 1 Presentation of Financial Statements: Summary applies in 2024

IAS 1 Presentation of Financial Statements: Summary applies in 2024

Revenue Recognition Step 3: Determine Transaction Price

Revenue Recognition Step 3: Determine Transaction Price

Why Starbucks Is Struggling

Why Starbucks Is Struggling

IFRS 16 Leases summary applies in 2024

IFRS 16 Leases summary applies in 2024

Contract Assets and Contract Liabilities

Contract Assets and Contract Liabilities

CLOSING ENTRIES: Everything You Need To Know

CLOSING ENTRIES: Everything You Need To Know

Revenue Recognition ASC 606 Explained via Example

Revenue Recognition ASC 606 Explained via Example

IFRS 2 Sharebased Payment summary still applies in 2024

IFRS 2 Sharebased Payment summary still applies in 2024

IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors still applies in 2024

IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors still applies in 2024

Example: Lease accounting under IFRS 16

Example: Lease accounting under IFRS 16

Revenue Recognition ASC 606. Step 1: Identify the Contract.

Revenue Recognition ASC 606. Step 1: Identify the Contract.

IFRS17 Insurance Contracts summary 2024

IFRS17 Insurance Contracts summary 2024

IFRS 13 Fair Value Measurement summary applies in 2024

IFRS 13 Fair Value Measurement summary applies in 2024

IFRS 9 | Classification and Measurement of Financial Assets and Financial Liabilities IFRS lectures

IFRS 9 | Classification and Measurement of Financial Assets and Financial Liabilities IFRS lectures

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