Analysis To Financial Statement

2. LAYOUT
• IFRS STANDARD
• SUPERSEDED STANDARDS
• COMPARISION OF IFRS 15 & IAS 18
• TIMELINE OF IFRS STANDARD
• IMPACT OF IFRS STANDARD
• LIVE EXAMPLE FROM MANUFACTURING AND SERVICE SECTOR

3. • SPECIFIES HOW AND WHEN AN IFRS REPORTER WILL
RECOGNIZE REVENUE AS WELL AS REQUIRING SUCH ENTITIES TO
PROVIDE USERS OF FINANCIAL STATEMENTS WITH MORE
INFORMATIVE, RELEVANT DISCLOSURES.

4. IFRIC 15
Agreements for
the Construction
of Real Estate
IFRIC 18
Transfers of
Assets from
Customers
IFRIC
13 Customer
Loyalty
Programmes
SIC-31 Revenue
- Barter
Transactions
Involving
Advertising
Services
IAS 18 Revenue
IAS 11
Construction
contracts

5. IFRS 15
IAS 18

6. IFRS 15 VS IAS 18
IFRS 15 :SPECIFIES HOW AND WHEN AN IFRS REPORTER WILL RECOGNIZE REVENUE AS
WELL AS REQUIRING SUCH ENTITIES TO PROVIDE USERS OF FINANCIAL STATEMENTS WITH
MORE INFORMATIVE, RELEVANT DISCLOSURES. THE STANDARD PROVIDES A SINGLE,
PRINCIPLES BASED FIVE-STEP MODEL TO BE APPLIED TO ALL CONTRACTS WITH CUSTOMERS.
IAS 18: REVENUE OUTLINES THE ACCOUNTING REQUIREMENTS FOR WHEN TO RECOGNIZE
REVENUE FROM THE SALE OF GOODS, RENDERING OF SERVICES, AND FOR INTEREST,
ROYALTIES AND DIVIDENDS

7. COMPARISION
IFRS 15: FOCUS ON
CONTROL
SPECIFIES HOW AND WHEN AN IFRS REPORTER
WILL RECOGNIZE REVENUE AS WELL AS
REQUIRING SUCH ENTITIES TO PROVIDE USERS
OF FINANCIAL STATEMENTS WITH MORE
INFORMATIVE, RELEVANT DISCLOSURES
IAS 18 FOCUS ON RISK &
REWARDS
APPLIES TO ACCOUNTING FOR REVENUE ARISING
FROM THE FOLLOWING TRANSACTIONS AND
EVENTS:
• THE SALE OF GOODS
• THE RENDERING OF SERVICES
• THE USE BY OTHERS OF ENTITY ASSETS
YIELDING INTEREST, ROYALTIES AND DIVIDEND

9. IDENTIFY CONTRACT WITH CUSTOMERS
IDENTIFY SEPARATE PERFORMANCE OBLIGATIONS IN CONTRACT
DETERMINE TRANSACTION PRICE
ALLOCATE TRANSACTION PRICE TO SEPARATE PO,S
RECOGNIZE REVENUES WHEN ENTITY SATISFIES WITH POS

10. 28 May
2014(Issuance)
22 July 2015(Effective
Date)
30 July 2015(IASB
proposals)
28 Oct
2015(Comment
deadline)
1 January 18(Revised
effective Date)