Overview

  • Providing a summary of the most important items in IFRS 15
  • Providing the background and purpose of the new standard
 

Detailed Objectives

A) Scope of IFRS 15 (for banks)

  • Identify contracts not in scope of IFRS 15
  • Identify the banking specific PL items in scope of IFRS 15

 

B) Application of the revenue model

  • Apply the 5 step approach of IFRS 15
  • Identify the customer in the asset management industry
  • Identify performance obligations in customer contracts

 

C) Up-front fees

  • Determine timing of revenue recognition for upfront fees
  • Understand the potential impact of IFRS 15

 

D) Variable consideration

  • Apply the ‘constrained’ threshold
  • Apply the IFRS 15 guidance on management fees
  • Apply the IFRS 15 guidance on performance based fees