IFRS 15 Revenue from Contracts with Customers | Solved Examples | Financial Reporting CMA | ACCA |

This video from Commerce Specialist explains IFRS 15 Revenue from Contracts with Customers.
Detailed explanation is given for understanding the Core Principle for Revenue Recognition. Explanation is also given regarding the Indicators which show the transfer of Control.
In-depth discussion is done and explanation is given on the five step revenue recognition model.
Many other factors are discussed including the existence of significant financing cost, when performance obligation is satisfied over time, the output methods and input methods for measurement.

This video is relevant for students of ACCA F7, Financial Reporting, ACCA F3, Financial Accounting, CMA, CA, CPA, CIA and for people concerned with Financial Reporting.

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[bettytom]

Hi Sir, the above video was very helpful as I am pursuing CMA. I would like to know if you have similar video for Recognition of Revenue Overtime ?

[DeepMainAim]

Thank you very much sir. It is very useful. One suggestion. Can you keep your "Commerce Specialist" picture either above the switch board or outside the writing board. It is obstructing the main information. Also please provide the link for the Part 2 of this video as mentioned in the video.

[SureshBabu-frqn]

Really very beautiful and powerful lecturing. Would you please add the real accounting of revenue from IFRS 15 and its effects in both balance sheet and income statement when there is very long term contract? 🙏🙏🙏

[SureshBabu-frqn]

Hi Sir
Still waiting to get the second video of IFRS 15 for long term contracts including over and under booking of revenue and its treatment such as liability or assets

[melissafernandes]

Sir pls also make a video of how to account for discount and other consideration paid to customers.

[SureshBabu-frqn]

Have you uploaded any video of actual accounting while project is completed by 2 to 3 years

[SureshBabu-frqn]

How can I see the continuity of this video that you mentioned in the last portion of this class.

[MC-iofg]

Please suggest best book for IFRS self study.

[melissafernandes]

In the case when we take the PV of the revenue will the differential amount of finance income be spread over the years till we receive the final payment? If yes, then in the e.g of this video, will 82, 467 be divided by 3?

[KapilaSug]

Is it okay to say that under the output method, percentage of cost incurred can also be considered as an example here unless only under input method ?

[rohanfernandes]

Sir should we learn IAS 41 standards or IFRS 17 STANDARDS

[shine]

Sir, is this concept similar to FASB ASC 606, Can students who are studying cma usa part 2 follow the same or are you teaching only according to IFRS?