IFRS 15: Revenue From Contract With Customers Pt. 1 |The Five-Step Approach| #ias #ifrs #acca

The first item when preparing the income statement is revenue. Revenue is a key performance indicator. Is a key item in the determination of ratios for analyzing and interpreting the financial statements of an entity. Given its importance, the IASB places much priority on the principles guiding its recognition and measurement. IFRS 15 provides the principles governing how revenue from a contract with a customer must be accounted for. This video focuses on step one of the five-step approaches to revenue recognition.
Still RONAS: Comprehending the Complications.

00:00 Introduction
03:34 Objective
11:54 Intro to the five steps
15:44 Step 1: Identify the contract

#IFRS9 #FinancialInstruments #IAS32IFRS9IFRS7 #financialreporting #SBR #CorporateReporting #AccountingStandards #IAS #IFRS #universities #ACCA#icag #acca #universities # businesses #fr #convertible bonds
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[ronasacademy]

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[edot]

Thanks very much for the effort in making these lessons easier to follow.

[hillsongcovers]

Excellent delivery, step-by-step rendition, and therefore broken down to make assimilation very easy. Thanks so much

[AdamsAnthony-zr]

Well done sir, am your student from Benin City Nigeria. Please your explanation on the treatment of CREDIT Loss under IFRS 9, IAS 32. Also impairment of financial asset.. the treatment of Hedging IFRS 9. Embedded derivative