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 provide you with the keys to understanding this revenue recognition model. and will be based on real life examples. The 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

The 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 Förster, Lead Partner of IFRS Learning Solutions of PwC Luxembourg.

It will be led by experts of PwC Luxembourg who are actively engaged in the daily implementation of the IFRS norms.

Philippe Förster is the IFRS leader for PwC Luxembourg and a partner in the Assurance practice. With over 20 years of experience serving financial and multinational institutions by providing audit and advisory services, he is a member of various PwC International IFRS working groups, including GACS (Global Accounting and Consulting Services), Financial Instruments Topical Team (FITT), and Corporate Treasury Technical Committee (CTTC). Philippe played a crucial role in developing our global guide: Hedge Accounting in Practice.

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