IFRS: Revenue Recognition (IAS 18 and IAS 11)
AICPA's IFRS Certificate Program
This course is part of the IFRS Certificate Program – a comprehensive, integrated curriculum that will give you the basic training, knowledge, and practical guidance in international accounting standards that are necessary in today's global business environment. Credit for individual courses purchased can be applied to the full program. Click here for information on the complete program.
The purpose of this course is to familiarize you with the criteria that must be satisfied in order to recognize revenue in accordance with IAS 18, Revenue, from a sales-type transaction. This course also discusses how to measure the amount of revenue to recognize and how to apportion revenue among multiple deliverables when a company sells a bundle of products and/or services.
In addition, revenue recognition under construction accounting is discussed. Lastly, this course covers the new requirements of IFRS 15.
Upon completion of this course, you will be able to:
- Apply the criteria for revenue recognition and identify those circumstances in which those criteria have or have not been met
- Identify issues that may arise when applying the revenue recognition criteria to separately identifiable components of a single transaction
- Apply the revenue recognition criteria for construction contracts
- Understand how IFRS 15 will affect future revenue recognition decisions
Advance Preparation: None
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