Masterclass 1 - IFRS 15: Revenue from contracts with customers

Putting IFRS into practice

Understanding accounting standards is one thing, applying them in practice can be complex. Especially if your company is involved in complex transactions, applying IFRS can be challenging. The training courses of the Academy are designed to help you take on this challenge and provide you with the insights that you require to successfully apply IFRS in practice.

Update and increase your accounting knowledge efficiently by attending our IFRS masterclasses. We offer concise, practical, high quality, accredited training courses. Recent developments and examples from our daily practice are part of the programme. All our instructors have extensive experience in the practical application of IFRS and enable you to implement them in your organisation. The use of these practice-hardened instructors also ensures that our training courses remain up to date and cover the recent and upcoming developments in IFRS.

Our IFRS masterclasses consist of 5 masterclasses:

1. IFRS 15
2. IFRS 16
3. IFRS 9
4. IFRS 17 (date tba)
5. Intergrated reporting (date tba)

The subjects covered include in particular the new standards almost all of the topics that companies encounter when applying IFRS. They range for example from revenue from contracts with customers to specific accounting rules related to financial instruments and consolidation. You may subscribe to all 5 masterclasses or to separate masterclasses you deem relevant.

IFRS 15 - Revenue from contracts with customers

Before the classroomsession participants receive an e-learn ‘Revenue Standard’:
This program is designed to help you understand and apply the accounting principles of the five-step model. Upon completion of this module you will be able to decide if the item of income is in the scope of the standard; identify the contract with the customer; identify the performance obligations in the contract; allocate the transaction price and define the revenue recognition pattern.

This masterclass focuses on the introduction of IFRS 15, the revenue recognition standard, which has replaced the former standards IAS 18 and IAS 11. This new standard has been effective since 2018, the impact of the standard could be significant for many companies from both an accounting and processes perspective. The introduction of the new standard has three objectives:

  • to remove inconsistencies and weaknesses in existing revenue recognition standards by providing clear principles for revenue recognition in a robust framework;
  • to provide a single revenue recognition model which will improve comparability over a range of industries, companies and geographical boundaries;
  • to simplify the preparation of financial statements by reducing the number of requirements to which preparers must refer.

During this session we address the most important changes as compared to the former accounting requirements. It is important that companies understand the concept of IFRS15 and are able to apply this in relation to their own business and activities.

For whom?

The IFRS masterclasses are for professionals with a background in finance and who work in an accounting, reporting and/or controlling role and for everyone else who is interested in the practical application of IFRS. Basic accounting knowledge and experience is required to use the knowledge offered during these masterclasses to its utmost.

Who are the trainers?

The trainers are professionals and members of the PwC Capital Markets and Accounting Advisory Services (CMAAS) group who use the IFRS standards assisting clients with IFRS transitions and/or complex IFRS accounting topics on a daily basis.

 

Date

  • 14 may 2019 

Location

PwC Utrecht
Thomas R. Malthusstraat 5
1066 JR Amsterdam

Costs

The price for attending this training session amounts to € 595,- exempt from VAT. No other discounts apply to these costs. This amount includes course material, lunch and complementary drinks.

Programme

13:15 Welcome and introduction
13:30 Model step 1,2 and 3
15:00 Break
15:10 Model step 4 and 5
16:40 Break
16:50 Other revenue topics
17:25 Wrap up
17:30 Drinks

PE hours Accountants

The training courses of the Academy meet the requirements for Permanent Education of the NBA. By completing a masterclass, accountants (AA and RA) receive 3 PE hours. The certificate of attendance will be provided within 4 weeks after a masterclass.

PE points RC’s

By completing a masterclass, registered controllers receive 3 PE points. The certificate of attendance will be provided within 4 weeks after a masterclass.

Participation

Upon receipt of your registration we will send you a confirmation with additional information about the training session. Please note that the number of available places is limited. We therefore advise you to apply as soon as possible. If you are unable to attend, a colleague can take your place. If this is the case, please inform us by sending an e-mail to pwc-academy@nl.pwc.com.


Contact

PwC's Academy

Onderdeel van/Part of, PwC Netherlands

Tel: +31 (0)88 792 86 70

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