- IFRS - International Financial Reporting Standards (IFRS)
- Revenues (sales) - Revenues (sales) - Sales recognition - Contract analysis - Performance obligation - Price allocation
Mastering a complex environment
Target audience
- Contrôleurs de gestion
- Experts comptables, Commissaires aux comptes
- Membres du département communication financière
- Responsables financiers, consolidation et comptables
- Utilisateurs des états financiers
1 day
IFRS 15 training
Prerequisites
No prior knowledge is required.
What is IFRS 15?
IFRS 15 is an international accounting standard that defines the principles for companies to recognize revenue from contracts with their customers. Implemented since January 1, 2018, this standard is based on a six-step model that guides the identification of the contract, the identification of separable obligations, the determination of the transaction price, the allocation of the price to the obligations and the recognition of revenue on transfer of control.
It applies to all business sectors, including industry, services and technology. Its main objective is to ensure more transparent and standardized revenue recognition on an international scale, thus facilitating comparability between companies.
As part of our IFRS 15 training course, we offer you a practical approach to mastering these principles. You'll learn how to analyze customer contracts, identify distinct performances, and recognize revenues in a compliant and efficient manner.
Key objectives of IFRS 15 training
◗ Integrating IFRS15 requirements and approach
◗ Identify the main deviations from French regulations
◗ For each stage, apply the accounting treatment for the different types of commercial relationship
◗ Assessing the impact of IFRS15 on financial statements
Training program
◗ Introduction: scope and principles of IFRS15
- Standard based on reciprocal commitments and rights
- Five-step analysis with detailed contract analysis
- Main deviations from French rules
✔ UNDERSTANDING | Group discussions: what impacts do you know?
◗ Identification of contract and performance obligations
- Determine when a contract is in force
- Grouping contracts
- Identify performance obligations and assess their distinctiveness
- Dealing with specific performance obligations (options, guarantees, etc.)
✔ UNDERSTANDING | Illustration: review of consolidated group financial statements
✔ APPLY | Case study: when is a contract "in force"?
✔ ASSESS | Quiz: are the following performance obligations distinct?
◗ Determining and allocating the transaction price
Identify the components of the transaction price (discounts, financing, customer payments
barter, etc.)
- Understand the cautious nature of IFRS15 and its impact on the recorded price
✔ UNDERSTAND | Illustration: price component analysis
✔ APPLY | Case study: allocation and expected value calculation
◗ Transfer of control and recognition of sales
Analyze the concept of transfer of control
- Determine whether sales are recognized on an ongoing basis (overtime) or on a point-in-time basis.
(point in time)
- Recognize sales using the percentage-of-completion method
✔ UNDERSTANDING | Illustration: review of consolidated group financial statements
✔ APPLY | Case study: impact on the financial statements of a one-off or progress recognition
of a one-off or percentage-of-completion recognition; monitoring of a percentage-of-completion contract.
✔ UNDERSTANDING | Group discussion: what treatment of costs under IFRS15?
◗ Information to be provided
- Definition and monitoring of contract assets/liabilities
- Ancillary information: order book, schedules, key assumptions
✔ UNDERSTAND | Illustration: review of consolidated group financial statements
✔ UNDERSTANDING | Group discussions: segment appendix practices
Why choose this IFRS 15 training course?
Sales are a key indicator of a company's financial performance. IFRS 15, applicable since 2018, imposes a sometimes counter-intuitive sales analysis and recognition process.
In just one day, this training course enables you to understand and apply this standard.
Teaching and assessment methods
Before: self-assessment quiz
During the session: technical presentation of concepts and practical illustrations drawn from real-life situations. Case studies, interactive quizzes and discussions during the session ensure that knowledge is acquired.
Afterwards: documentary contributions.
The trainer is available to answer any questions relating to the training.
Price
1 295 € EXCL. TAX
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IFRS 15 training
IFRS 15 training
IFRS 15 training
IFRS 15 training
Jonathan C.
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