IFRS 15
[aɪ-ɛf-ɑːr-ɛs fɪfˈtiːn]
noun
IFRS 15 - Receitas de Contratos com Clientes
1. International Financial Reporting Standard 15, the global accounting standard that establishes principles for recognizing revenue from contracts with customers
Companies must comply with IFRS 15 to ensure consistent revenue recognition across financial statements.
As empresas devem estar em conformidade com a IFRS 15 para garantir o reconhecimento consistente de receitas nas demonstrações financeiras.
2. A framework that replaces previous revenue recognition standards and provides a single comprehensive model for recognizing revenue
The implementation of IFRS 15 requires significant changes to revenue accounting processes in multinational corporations.
A implementação da IFRS 15 requer mudanças significativas nos processos de contabilização de receitas em corporações multinacionais.
3. A standard issued by the International Accounting Standards Board (IASB) that became effective on January 1, 2018
IFRS 15 fundamentally changed how contract modifications and performance obligations are treated in accounting.
A IFRS 15 mudou fundamentalmente como modificações de contrato e obrigações de desempenho são tratadas na contabilidade.
IFRS 15 is a critical regulatory requirement for publicly listed companies and multinational corporations in Brazil and globally. Since its effective date in 2018, it has become essential knowledge for accountants, auditors, and financial professionals. The standard is particularly significant in Brazil where it aligns local accounting practices with international standards, affecting how companies in diverse sectors (technology, retail, manufacturing, services) report their financial results.
Related Idioms & Phrases
revenue recognition framework
five-step model of IFRS 15
performance obligation
contract modification under IFRS 15
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