IFRS 15 — Revenue from Contracts with Customers

// 6 episodes · 3.0 CPD hours · intermediate level

What you'll learn 5-step model

IFRS 15 tells you when and how much revenue to record from a customer contract. It sounds simple — until you realise that "the customer paid in cash today" doesn't always mean "you've earned that revenue today." This course walks you through all five steps using businesses you already know.

Identify the contract — even when nothing is written down
Identify each performance obligation hidden inside the deal
Determine the transaction price — including discounts, refunds, and bonuses
Allocate price to each promise the seller made
Recognise revenue as each promise is fulfilled — over time, or at a point in time

Episodes 6 / 6 ready

Identifying a Contract — TerraGold & Mrs. Owusu's Off-Plan Home

A GH₵800,000 off-plan home sale. 30% deposit today, 18-month instalments, mortgage-financed. Does IFRS 15 recognise this as a contract before Step 2 can begin?

Ready 7m

Performance Obligations — Inside TerraGold's Off-Plan Deal

The contract is real — now what's inside it? Five named deliverables in TerraGold's GH₵800k SPA. Apply the distinct test and end up with three performance obligations.

Ready 6m

Transaction Price — How Much is TerraGold Really Entitled to?

GH₵800,000 stated. But IFRS 15.47 has up to five things that can move the price. Variable consideration, expected-value method, the constraint, the financing flag — landing at GH₵795,000.

Ready 8m

Allocating the Price — Splitting GH₵795,000

IFRS 15.74 — relative standalone selling prices. Three POs · three numbers. The home gets 725,438. Warranty 39,750. Maintenance 29,813. Discounts spread proportionally.