Statements (53)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:International_Organization_for_Standardization
|
| gptkbp:amended_by |
subject to amendments and updates
|
| gptkbp:applies_to |
all contracts with customers
|
| gptkbp:assets |
recognizes contract assets
|
| gptkbp:audit_considerations |
has implications for audit practices
|
| gptkbp:case_analysis |
includes case studies for practical application
|
| gptkbp:comparison_with_gaap |
compared with US GAAP
|
| gptkbp:contract_costs |
guidance on capitalizing costs
|
| gptkbp:contract_liabilities |
recognizes contract liabilities
|
| gptkbp:contract_modification_guidance |
provides guidance on how to handle modifications
|
| gptkbp:developed_by |
gptkb:International_Accounting_Standards_Board
|
| gptkbp:disclosure_objectives |
to provide useful information to users
|
| gptkbp:effective_date |
January 1, 2018
|
| gptkbp:financial_statement_presentation |
affects financial statement presentation
|
| gptkbp:global_adoption |
widely adopted internationally
|
| https://www.w3.org/2000/01/rdf-schema#label |
IFRS 15
|
| gptkbp:impact_on_contracts |
affects how contracts are structured
|
| gptkbp:impact_on_financial_ratios |
may impact financial ratios
|
| gptkbp:impact_on_financial_statements |
affects revenue recognition
|
| gptkbp:impact_on_revenue_forecasting |
affects revenue forecasting practices
|
| gptkbp:impact_on_taxation |
may affect tax revenue recognition
|
| gptkbp:industry_application |
applicable across various industries
|
| gptkbp:industry_specific_guidance |
provides industry-specific guidance
|
| gptkbp:is_a_framework_for |
five-step model
|
| gptkbp:is_implemented_in |
may face implementation challenges
|
| gptkbp:is_reviewed_by |
subject to periodic review
|
| gptkbp:is_set_in |
entities that report under IFRS
|
| gptkbp:objective |
to establish principles for reporting the nature, amount, timing, and uncertainty of revenue and cash flows
|
| gptkbp:performance_obligation_examples |
goods, services, licenses
|
| gptkbp:performance_obligation_satisfaction |
satisfied over time or at a point in time
|
| gptkbp:principal_vs_agent |
guidance on principal versus agent considerations
|
| gptkbp:provides_guidance_on |
provides guidance on contract modifications
|
| gptkbp:regulatory_compliance |
mandatory for IFRS reporters
|
| gptkbp:related_concept |
gptkb:IFRS_16
|
| gptkbp:related_works |
accompanied by various publications and guides
|
| gptkbp:replaces |
IAS 18
|
| gptkbp:reports_to |
qualitative and quantitative information
|
| gptkbp:revenue_recognition_criteria |
control transfer
|
| gptkbp:revenue_recognition_timing |
depends on performance obligation satisfaction
|
| gptkbp:significant_judgment |
requires significant judgment in certain areas
|
| gptkbp:stakeholders |
involves stakeholder feedback in updates
|
| gptkbp:step1 |
Identify the contract with a customer
|
| gptkbp:step2 |
Identify the performance obligations in the contract
|
| gptkbp:step3 |
Determine the transaction price
|
| gptkbp:step4 |
Allocate the transaction price to the performance obligations
|
| gptkbp:step5 |
Recognize revenue when the entity satisfies a performance obligation
|
| gptkbp:title |
Revenue from Contracts with Customers
|
| gptkbp:training |
requires training for implementation
|
| gptkbp:training_programs |
available training resources for implementation
|
| gptkbp:transition_options |
full retrospective or modified retrospective approach
|
| gptkbp:variable_consideration |
addresses variable consideration in contracts
|
| gptkbp:bfsParent |
gptkb:International_Organization_for_Standardization
|
| gptkbp:bfsLayer |
4
|