Accounting for your revenue: what you need to know

Through the IFRS 15, the International Accounting Standards Board provided guidance on accounting for revenue from contracts with customers.
From accounting to incentive given to staff through systems and metrics, everything might be impacted.

Our course is designed to give you the keys of this revenue recognition model. Training will be pedagogic and based on real life examples.

By the end of this training, the participants will be able to:

• understand and asses the main impacts of IFRS 15;
• apply their knowledge to their IFRS reporting.

• 5 steps approach:
• Contract identification
• Performance obligation identification
• Transaction price determination
• Transaction price allocation
• Revenue recognition
• Other consideration
• Pervasive business impact

This training is coordinated by Philippe Foerster, Lead Partner of IFRS Learning Solutions of PwC Luxembourg. It will be animated by experts of PwC Luxembourg daily involved in the implementation of the IFRS norms.

Philippe Foerster is the IFRS leader for PwC Luxembourg and is a partner in the Assurance practice.

Philippe has over 18 years experience in serving financial and multinational institutions providing audit and advisory services. He is part of the PwC Global Accounting and Consulting Services (GACS) and is a partner specialised in accounting for financial instruments and consolidation under IFRS. He is member of several PwC international IFRS working groups: GACS, Financial Instruments Topical Team (FITT) and Corporate Treasury Technical Committee (CTTC). He participated in the elaboration of our global guide: hedge accounting in practice.

Philippe graduated from HEC-University of Liège-Belgium. He is a qualified “réviseur d’entreprises” in Luxembourg.