Accounting for revenue is changing

Accounting for revenue is changing

IFRS 15 Revenue from Contracts with Customerswas, replacing the existing IFRS revenue guidance, and introducing a new revenue recognition model.

Also on KPMG.com

Accounting for revenue is changing

Now that the IASB and FASB have published a new joint standard on revenue recognition, the real work for transport companies is just beginning. IFRS 15 Revenue from Contracts with Customerswas issued in May 2014, replacing the existing IFRS revenue guidance, and introducing a new revenue recognition model.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG’s new-look website