International Financial Reporting Standard (IFRS)15, Revenue from Contracts with Customers had a broad impact on the amounts and timing of revenue. This course provides an overview of the most significant elements of the latest five-step model to determine when and what amount to recognize revenue.

Learning Objectives
  • Explore the five-step model that determines when and what amount of revenue to recognize.
  • Discover important considerations in recognizing revenue when a company transfers control of goods or services to a customer at the amount the company expects to be entitled.
  • Recognize whether to recognize revenue either over time, in a manner that best reflects performance, or at a point in time, when control of the goods or services is transferred to the customer.
Last updated/reviewed: March 14, 2024

Included In Certifications

This course is included in the following Certification Programs:

17 CoursesInternational Financial Reporting Standards (IFRS) Certification

  1. General Considerations for Preparing Financial Statements in Accordance with IFRS
  2. IFRS vs. U.S. GAAP - Major Differences in Accounting
  3. 2022 IFRS Update
  4. IFRS for Small and Medium-Sized Entities Compared to Full IFRS
  5. Accounting for Revenue from Contracts with Customers per IFRS 15
  6. Accounting for Leases under IFRS 16
  7. IFRS - Accounting for Share-Based Payment Awards per IFRS 2
  8. Accounting for Financial Instruments under IFRS 9
  9. Accounting for Nonfinancial Assets under IFRS
  10. Accounting for Business Combinations under IFRS 3
  11. IFRS - Accounting for Employee Benefits per IAS 19 and IFRIC 14
  12. Accounting for Investments in Other Entities, Including Consolidation, under IFRS
  13. IFRS - Accounting for Income Taxes per IAS 12
  14. IFRS - Derivatives and Hedge Accounting under IFRS 9
  15. IFRS - Special Accounting Topics
  16. IFRS - Special Financial Reporting Issues
  17. IFRS - General Financial Statement Disclosures
13 Reviews (43 ratings)


Member's Profile
I found this to be a great refresher course since i had not since seen this information in a while. Professor is very knowledgeable on the topic at hand and is very easy to follow from slide to slide.

Anonymous Author
The course was a great introduction to revenue recognition. The exam questions were a bit difficult. The instructor does a great job with examples and gives great insight into the subject matter.

Member's Profile
Very good for a first introduction to IFRS15. I am not sure if some parts of this course should be changed as a result of the revised IFRS15.

Anonymous Author
course was organized and concepts clear, instructor was effective in communicating the contents of the course

Anonymous Author
The course fully covers the major basics of IFRS 15. Would love to see course with practical examples.

Member's Profile
This was a really good course and overview of the new revenue accounting standard for IFRS 2.

Anonymous Author
Explore the new five-step model that determines when and what amount of revenue to recognize

Anonymous Author
Solid overview of the key concepts with good explanations of the requirements of each step.

Member's Profile
Excellent course. However, some exhibits, scenarios or examples could be added.

Anonymous Author
It is good refresher on the IFRS 15 principals and different concepts used

Member's Profile
The course has consistent material and the instructor is great.

Anonymous Author
I enjoyed this course and thought it was very informative.

Member's Profile
I liked the course, it was good to improve my knowledge.

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
  Introduction and Overview to Accounting for Revenue from Contracts with Customers per IFRS 156:50
  Step 1: Identify the Contract with a Customer4:44
  Step 2: Identify the Performance Obligations & Step 3: Determine the Transaction Price7:40
  Step 4: Allocate the Transaction Price & Step 5: Recognize Revenue5:33
  Contract Cost Assets3:56
  Contract Modifications2:56
  Licensing of Intellectual Property & Presentation and Disclosure5:20
  Other Matters and Conclusion12:19
  Accounting for Revenue from Contracts with Customers per IFRS 1549:18
  Slide: Accounting for Revenue from Contracts with Customers per IFRS 15PDF
  Slides: Accounting for Revenue from Contracts with Customers per IFRS 15PDF