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Are you ready for IFRS 15?

Last updated: Wednesday March 22nd 2017

IFRS 15 is coming. Businesses will need to apply the new IFRS 15 Revenue from Contracts with Customers standard for accounting periods beginning on or after 1 January 2018. IFRS 15 will replace IAS 18 Revenue and IAS 11 Construction Contracts, establishing a comprehensive framework for determining when and how much revenue to recognise. Most firms will be affected and you should begin preparing now to avoid challenges at the transition date.