KPMG’s ISG recently released Guide to Annual Financial Statements — IFRS 15 Supplement in PDF format to help entities that prepare financial statement disclosures under IFRS to implement IFRS 15, Revenue from Contracts with Customers, which is effective for annual periods beginning on or after January 1, 2018. The publication addresses example disclosures by a fictitious multinational listed company. The example company would early adopt IFRS 15 beginning January 1, 2015, and would elect a retrospective with practical expedient transition approach. The supplement does not illustrate all of the disclosures identified in IFRS 15, which would depend on an entity’s underlying facts and circumstances.
The publication complements ISG’s Guide to Annual Financial Statements — Illustrative Disclosures (September 2015).