IFRS 15 for the construction industry

Entities in the construction industry have previously followed their own standard (IAS 11 Construction Contracts) that contained specific guidance for the recognition of revenue from construction contracts. This has now been replaced by a generic revenue standard called IFRS 15 Revenue from Contracts with Customers. The new revenue standard will likely bring about additional complexities for accountants who prepare financial reports for construction entities in addition to potentially changing the pattern of revenue recognition.

Articles

1. IFRS 15 for the construction industry – Overview
2. IFRS 15 for the construction industry – Timing of revenue recognition
3. IFRS 15 for the construction industry – Multiple contracts that should be combined
4. IFRS 15 for the construction industry – Contracts that contain multiple goods or services
5. IFRS 15 for the construction industry – Long-term contracts
6. IFRS 15 for the construction industry – Contract Modifications
7. IFRS 15 for the construction industry – Contracts that have variable consideration
8. IFRS 15 for the construction industry – Tender costs.