IFRS 15 Real Estate Sector | KPMG | OM

IFRS 15 Real Estate Sector

IFRS 15 Real Estate Sector

In May 2014, the International Accounting Standards Board (IASB) published a new standard, IFRS 15 Revenue from contracts with customers (IFRS15), which significantly impacts real estate companies.

1000

Author

Partner and Head of Accounting Advisory Services

KPMG in the United Arab Emirates

Contact

Related content

construction

Are you ready for the new standard?

The new revenue standard requires entities to review the terms and conditions of their existing contracts to identify all goods and services sold to customers. Do you fully understand the financial and accounting implications of your contracts? IFRS 15 contains new guidance in determining whether a cost should be capitalized or expensed when incurred. Have you assessed their practical impacts on your planning?

Under the new standard, revenue recognition overtime (percentage of completion) is not an automatic right but subject to conditions. One or more of the new requirements will affect revenue recognition for UAE companies. 

pdf Download pdf (276.2 KB)

Connect with us

 

Request for proposal

 

Submit

pdf Download pdf (276.2 KB)