IFRS 15 — Revenue from Contracts with Customers
Modules of the standard
- Concepts30 publishedNormative and pedagogical mapping.
- Questions422 publishedTrue/false, quizzes, calculations, entries, mini-cases, judgment.
- Practical cases5 publishedProgressive cases, from beginner to expert.
- Workpapers7 publishedWorking papers with calculations and entries.
- Professional file1 publishedSimulation of a full engagement.
- Exams2 publishedSealed, versioned final exams.
- Explanations (lessons)18 publishedLesson explanations, chapter by chapter.
Practical cases
- Bundled cold room, installation and maintenance: five steps and allocation of the priceL1Beginner
- Distributor: volume rebate, right of return and consideration payable to a customerL2Intermediate
- Construction contract: cost-based progress, modification and contract assetL3Advanced
- Software publisher: loyalty programme, multi-year advance payment and costs of obtaining contractsL3Advanced
- Group revenue review: principal or agent, warranties, gift cards and disclosuresL4Expert
- Professional file: revenue review of an industrial and services groupL4Expert
Workpapers
Concepts by topic
Mapping texts (concept labels, objectives, paragraph summaries) are available in French only for now.
Objective, core principle and scope
- Objective, core principle and the five stepsCore12 questions
- Scope and contracts partly within other standardsCore13 questions
Definitions
- Defined termsCore12 questions
Step 1: Identifying the contract
- Identifying the contractCore17 questions
- Combination of contractsImportant8 questions
- Contract modificationsCore14 questions
Step 2: Identifying performance obligations
- Identifying performance obligations and seriesCore14 questions
- Distinct goods or servicesCore13 questions
Step 3: Determining the transaction price
- Determining the transaction priceCore13 questions
- Variable consideration and the constraintCore17 questions
- Significant financing componentCore16 questions
- Non-cash consideration and consideration payable to a customerImportant13 questions
Step 4: Allocating the transaction price
- Allocation on relative stand-alone selling pricesCore16 questions
- Allocating a discount and variable considerationImportant10 questions
- Changes in the transaction priceImportant10 questions
Step 5: Satisfaction of performance obligations
- Transfer of control and obligations satisfied over timeCore22 questions
- Performance obligations satisfied at a point in timeCore12 questions
- Measuring progress towards complete satisfactionCore21 questions
Contract costs
- Costs to obtain and to fulfil a contractCore18 questions
- Amortisation and impairment of contract cost assetsImportant10 questions
Presentation
- Contract assets, contract liabilities and receivablesCore14 questions
Disclosure
- DisclosuresImportant19 questions
Application guidance
- Sale with a right of returnCore16 questions
- Assurance-type and service-type warrantiesCore15 questions
- Principal versus agent considerationsCore17 questions
- Customer options for additional goods or servicesCore14 questions
- Unexercised rights and non-refundable upfront feesImportant12 questions
- Licences of intellectual propertyAdvanced14 questions
- Repurchase, consignment and bill-and-hold arrangementsAdvanced16 questions
- Customer acceptanceSpecialised4 questions