In this video, we discuss the key findings from a survey of revenue disclosures in 2018 financial statements.
The survey was conducted to learn more about emerging presentation and disclosure practices, as well as the transition effect of IFRS 15 on entities.
IFRS 15 Revenue from Contracts with Customers includes extensive disclosure requirements that affect all entities.
Key areas of impact on the transition to IFRS 15 entities included changes to presentation within the balance sheet, identification of performance obligations and the timing of revenue recognition.
Most Mining & Metals, Construction and Asset Management entities surveyed disaggregated revenue by two dimensions. Entities from the Aerospace & Defence, Life Sciences and the Media & Entertainment sector usually disaggregated by three or more dimensions.
