United States

Accounting for Revenue Is Changing (April 2016)

May 02, 2016
From the Financial Reporting Network and the IFRS Institute

KPMG’s ISG recently updated Accounting for Revenue Is Changing (April 2016) and Accounting for Revenue Is Changing: Impact on Telecommunications Companies (April 2016) to address the IASB’s amendments to IFRS 15, Revenue from Contracts with Customers, which respond to application issues identified by stakeholders. The publications highlight key effects of IFRS 15, and the next steps that entities that apply IFRS should take to successfully implement the requirements of the new standard.

IFRS 15 is effective for entities that apply IFRS for annual periods beginning on or after January 1, 2018. Earlier application is permitted.