IFRS - new revenue recognition standard

Revenue is often the largest number on an entities' profit or loss account. On 24 June 2010, the IASB and US FASB published a joint exposure draft Revenue from Contracts with Customers. The aim is to develop an entirely new revenue recognition standard which is due to be released in 2012.

The new standard will replace all existing standards and interpretations which dictate the accounting treatment for revenue. The main objectives of the two boards are to develop a common, comprehensive, principles-based revenue standard that can be applied consistently to complex transactions across a wide range of industries.

This half day course will visit the current accounting requirements for revenue recognition and then consider how this has changed when compared to the new revenue recognition standard.

The speaker will be drawn from a pool of subject specialists who are qualified professionals. Having worked for leading organisations they will bring their subject to life by relating the course content to real life case studies.

• Understanding of current accounting.
• Scope of the new revenue recognition standards.
• Key issues to consider when accounting for revenue.
• Practical impact.
• Disclosures.

The course will start at 9.30am, with registration and coffee from 9.00am, and end at 12.45pm. Refreshments are provided.

3 CPD hours (where applicable)

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