PwC guide in applying IFRS 15 to investment companies

IFRS 15 Revenue from Contracts with Customers, which became effective on 1 January 2018, may change the way investment management companies account for their services. In the past, when major IFRS change has led to large-scale implementation projects, management at companies – usually group financial controllers – have a critical question in mind ‘How will I know when we’re done?’.To help to answer that question, I’ve created this course to highlight the key considerations that all investment management companies need to focus on to get to the finish line. This course will help investment management companies to understand how to apply IFRS 15’s five-step model, providing examples that illustrate how to apply the standard to common fact patterns. Each section within this course deals with a different issue and considers the new requirements and how they differ from previous requirements.By following each section, you will learn a five-step model to determine when to recognise revenue, and at what amount. The model specifies that revenue is recognised when or as an entity transfers control of goods or services to a customer at the amount to which the entity expects to be entitled. Also, you will learn how to allocate transaction price as well as understanding deeply about contract cost and so much more.