IFRS 15 definition

IFRS 15 means IFRS 15, Revenue from Contracts with Customers.
Sample 1Sample 2Sample 3
IFRS 15 means the International Financial Reporting Standard (IFRS) 15 issued by the International Accounting Standards Board which provides guidance on accounting for revenue from contracts with customers. IFRS 15 is available at https://www.ifrs.org/issued- standards/list-of-standards/ifrs-15-revenue-from-contracts-with-customers/;
Sample 1

Examples of IFRS 15 in a sentence

  • IFRS 15 is effective for annual periods beginning on or after January 1, 2018.

  • Under IFRS 15, revenue is recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer.

  • Under IFRS 15, revenue is recognized at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer.

  • Early application is permitted, provided the entity also applies IFRS 9 and IFRS 15 on or before the date it first applies IFRS 17.

  • IFRS 15 establishes a comprehensive framework for determining whether, how much and when revenue is recognised.

  • IFRS 15 clarifies the principles for recognizing revenue from contracts with customers.

  • The standard is effective for annual periods beginning on or after January 1, 2019, with early application permitted for entities that apply IFRS 15.

  • Far more prescriptive guidance has been added in IFRS 15 to deal with specific scenarios.

  • IFRS 15 establishes a single five-step model framework for determining the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer.

  • IFRS 15 establishes a single revenue recognition framework that applies to contracts with customers.

Related to IFRS 15

  • IFRS means International Financial Reporting Standards as issued by the International Accounting Standards Board.

  • UK GAAP means generally accepted accounting principles in the United Kingdom.

  • U.S. GAAP means United States generally accepted accounting principles consistently applied.

  • IFR means the symbol used to designate the instrument flight rules;

  • IASB means the International Accounting Standards Board;

  • PRC GAAP means the generally accepted accounting principles in the PRC.

  • Brazilian GAAP means, collectively, the accounting principles prescribed by Brazilian Corporate Law, the rules and regulations issued by applicable regulators, including the CVM, as well as the technical releases issued by the Brazilian Institute of Accountants (Instituto Brasileiro de Contadores), in each case as in effect from time to time.

  • HKFRS Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants

  • FASB means the Financial Accounting Standards Board.

  • Australian Accounting Standards means the accounting standards made by the Australian Accounting Standards Board in accordance with section 227 of the Australian Securities and Investments Commission Act 2001 (Cth).

  • International Financial Reporting Standards or “IFRS” means the accounting standards issued or endorsed by the International Accounting Standards Board.

  • IAS means International Accounting Standards;

  • GAAP means generally accepted accounting principles in the United States of America.

  • Fixed GAAP Date means the Issue Date; provided that at any time after the Issue Date, the Company may by written notice to the Trustee elect to change the Fixed GAAP Date to be the date specified in such notice, and upon such notice, the Fixed GAAP Date shall be such date for all periods beginning on and after the date specified in such notice.

  • Pro Forma means producing a balance sheet that reflects a reasonably accurate financial statement of the Failed bank through the date of closing. The pro forma financial statements serve as a basis for the opening entries of both the Assuming Institution and the Receiver.

  • Accounting Principles means the international financial reporting standards (IFRS) within the meaning of Regulation 1606/2002/EC (or as otherwise adopted or amended from time to time).

  • Fixed GAAP Terms (a) the definitions of the terms “Capitalized Lease Obligation,” “Consolidated Depreciation and Amortization Expense,” “Consolidated Interest Expense,” “Consolidated Net Income,” “Consolidated Tangible Assets,” “Consolidated Working Capital,” “EBITDA,” “ECF CNI,” “Excess Cash Flow,” “Fixed Charge Coverage Ratio,” “Fixed Charges,” “Funded Debt,” “Indebtedness,” “Investments,” “Net Income,” “Senior Secured Indebtedness” and “Senior Secured Indebtedness to EBITDA Ratio,” (b) all defined terms in this Agreement to the extent used in or relating to any of the foregoing definitions, and all ratios and computations based on any of the foregoing definitions, and (c) any other term or provision of this Agreement or the other Loan Documents that, at the Borrower’s election, may be specified by the Borrower by written notice to the Administrative Agent from time to time.

  • Canadian GAAP means Generally Accepted Accounting Principles as provided in the Handbook of the Canadian Institute of Chartered Accountants.

  • Most Recent Financial Statements has the meaning set forth in Section 4(g) below.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • International Accounting Standards means the accounting standards approved by the International Accounting Standards Board from time to time.

  • UK generally accepted accounting principles and practices means the principles and practices prevailing from time to time in the United Kingdom which are generally regarded as permissible or legitimate by the accountancy profession irrespective of the degree of use.

  • Accounting Policies means the accounting policies and procedures set out in Part C of Schedule 4 (Accounting Policies);

  • Year-End Financial Statements has the meaning set forth in Section 3.06.

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Unaudited Financial Statements has the meaning set forth in Section 3.4(a).