IFRS 15 – A Closer Look

On 12 April 2016, two years after the publication of the new standard on revenue recognition, the IASB issued clarifications to IFRS 15, Revenue from Contracts with Customers.

Keywords: Mazars, Thailand, IFRS 15, Revenue, Intellectual Property, IASB, US standard, Transition Resource Group

30 May 2016

These clarifications relate to:

  • identifying the performance obligations;
  • the agent/principal distinction;
  • licences of intellectual property;
  • transitional arrangements.

These amendments are, generally speaking, the result of the discussions that took place in the joint Transition Resource Group. They do not affect the general principles of the standard, but simply bring clarification to some particular aspects of application.

Hitherto, IFRS 15 has been broadly convergent with the US standard, Topic 606, which was issued simultaneously.

The report is completely free of charge to you. Simply click on the link below to download your copy.


IFRS 15 – A Closer Look