IFRS Course

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Essentials - A Focus on IFRS 15 Revenue from Contracts with Customers (Virtual Classroom)

Course Details

Code:1111v

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Virtual Classroom

11 Sep 2023

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Introduction

This online IFRS training is being delivered live in a single 4 hour session which runs from 13:00 – 17:00 London (UK).

This focus session deals with key considerations when applying IFRS 15 Revenue from Contracts with Customers. Reviews by regulatory bodies of its application have identified aspects of IFRS 15 where the quality and usefulness of revenue accounting and disclosure can be improved by preparers. The course integrates examples of, and suggestions for, such improvements into a clear explanation of the Standard’s requirements. In addition, the course will review the effect of relevant Agenda Decisions by the IFRS Interpretations Committee.

The session also enables participants to raise and discuss specific issues that they have come across with applying IFRS 15 in practice.

Learning Objectives

Apply the five step process for determining revenue under IFRS 15
Learn the requirements for accounting for contract costs
Apply the presentation requirements in IFRS 15
Improve the relevance and quality of disclosures under IFRS 15

Who Should Attend

Accountants in finance and reporting teams that prepare IFRS financial statements
External and internal auditors
Financial and credit analysts seeking to improve their understanding of IFRS financial statements
Accounting regulators and enforcement bodies

Topics

The five steps
- Contract enforceability
- Collectability
- Contract modifications
- Variable consideration
- Significant financing component
- Customer incentives
Contract costs – obtaining and fulfilment
- Recognition
- Amortisation and impairment
Presentation issues
- Contract assets and liabilities
Disclosure
- Qualitative and quantitative information
- Improving the quality

Teaching Method

Live group internet instruction in virtual format by specialist instructor
Description and explanation of IFRS 15 requirements in clear and simple language
Use of case studies and real-world examples to illustrate practical application
Interactive participation is encouraged, with all attendees being required to be present on camera for the duration of the session
All participants receive comprehensive electronic course notes, including presentation slides and handouts
This virtual training is being delivered live and online in a session which runs from 13:00 – 17:00 London (UK).

Instructors

The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.

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Venue

Our seminars take place in professional conference facilities, usually situated within a carefully chosen and well-located hotel. We use prestigious brands such as Radisson Blu, Hilton and Marriott.

Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Refreshments and lunch are provided at our events.

CPE/CPD Accreditation

IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the . State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: .

Field of study: Accounting

Prerequisites

Basic understanding of accounting under IFRS. No advance preparation is required for this course.

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