IFRS 15: Part 2 (Performance Obligation Satisfied At a Point in Time or Overtime)

The amalgamation of IAS 11 Contract cost and IAS 18 Revenue gave birth to the International Financial Reporting Standard 15: Revenue from Contract with Customers. IFRS 15 prescribe the accounting treatment for Revenue and Contract cost. According to IFRS 15, one must follow the 5 step approach in accounting for revenue in the financial statement of the entity. This video provide detailed information and explanation of the concepts and principles in the standard as well as solved practical samples on the Step 5; Recognizing Performance Obligation At a point in time or Overtime.
Let's learn together in an environment that is conducive and convenient for all.
Ronas: Comprehending the Complication.
The questions link is below.
drive.google.com/drive/folder...
00:00 Introduction
03:30 P.O satisfied at a point in time
09:51 P.O satisfied overtime
14:16 Input and Output Method
18:45 Steps to deal with contracts performed overtime
34:46 Sample Questions Solved
1:08:03 Contract Cost
Check our channel for more valuable contents.
/ @ronasacademy
#ifrs #ias #acca #icag

Пікірлер: 21

  • @ronasacademy
    @ronasacademy2 жыл бұрын

    Thanks for learning with us. Kindly share and subscribe. RONAS: Comprehending the Complications

  • @ronasacademy

    @ronasacademy

    2 жыл бұрын

    There is actually a video uploaded on Financial Instrument. IFRS 9. kindly check pls.

  • @marthandapewa9186
    @marthandapewa91862 ай бұрын

    Thank you so much, your detailed illistration of the questions makes everything easier.

  • @yusufkalongo
    @yusufkalongo Жыл бұрын

    Your practical touches are effective in achieving the fundamental concepts of the standard,thanks Sir!

  • @ronasacademy

    @ronasacademy

    Жыл бұрын

    Thanks for the feedback. Kindly share with others

  • @gabrielntem5366
    @gabrielntem53662 жыл бұрын

    Thanks for the Knowledge

  • @luckyntem4534
    @luckyntem45342 жыл бұрын

    Great Knowledge

  • @thekingdomrona4736
    @thekingdomrona47362 жыл бұрын

    Great Content

  • @alby1742
    @alby17422 жыл бұрын

    Thanks Sir

  • @veronicaeddecy6309
    @veronicaeddecy63092 жыл бұрын

    Thanks sir please do a video for ifrs 9

  • @danieldrinkbeer5204
    @danieldrinkbeer52042 жыл бұрын

    GREAT PRESENTATION

  • @ronasacademy

    @ronasacademy

    2 жыл бұрын

    Thanks for feedback

  • @zonelearn
    @zonelearn Жыл бұрын

    Hi, thanks for this great lesson. Is there a reason why the depreciation amount wasn't less from the gross profit in the P&L account and carried forward in computing the contract asset?

  • @ronasacademy

    @ronasacademy

    Жыл бұрын

    **Thanks for the feedback. The cost of the plant form part of the total cost which was included in the cost of sale. Another treatment would be to treat it separately which will allow the treatment for the depreciation.*

  • @princefrimpong6917
    @princefrimpong69177 ай бұрын

    Please when you are reading the question you can project it on the entire screen so that we can follow as you read, when you are about to solve the question then you take it off, also you projected it again when you are referring something in the question and take it off when you are done

  • @ronasacademy

    @ronasacademy

    7 ай бұрын

    Noted

  • @siaaruna2432
    @siaaruna2432 Жыл бұрын

    Thanks for presentation. I really appreciate your videos. Should the valuation of % age progress using both methods give the same % age?

  • @ronasacademy

    @ronasacademy

    Жыл бұрын

    If there's no further info, then yes.

  • @TheEboquansah
    @TheEboquansah Жыл бұрын

    google drive is telling me that i need access

  • @ronasacademy

    @ronasacademy

    Жыл бұрын

    I have grant you access please