Are you ready for IFRS 15?

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.