IFRS 15: Disclosures - A Closer Look

Following the publication of the first annual consolidated IFRS financial statements applying IFRS 15, we examined the financial reporting (financial statements and other elements of financial communication) of a sample of 70 European groups at 31 December 2018. This has enabled us to identify the key lessons to be learned on some of the major issues relating to disclosures required in the notes.

Keywords: Mazars, Thailand, IFRS 15, Revenue from Contracts with Customers, Disclosures

09 July 2019

We decided to focus on two key requirements of the standard: the disclosures required on disaggregation of revenue and the disclosures relating to the transaction price allocated to unsatisfied performance obligations (or in other words, the “order backlog”, defined and measured in accordance with IFRS 15). These two issues raised a lot of questions from preparers of financial statements prior to initial application of IFRS 15, and regulators are therefore paying close attention to these topics. Our study aims to examine the decisions made by the groups in our sample, and to identify good practice. It also puts forward some points for consideration in the future, with a view to improving and enriching disclosures in the notes.

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