Question
When IFRS 15/AASB 15 Revenue from Contracts with Customers was released, the accounting firm BDO issued a short document entitled IFRS Industry Issues: Construction &
When IFRS 15/AASB 15 Revenue from Contracts with Customers was released, the accounting firm BDO issued a short document entitled IFRS Industry Issues: Construction & Real Estate. In the document they stated: The adoption of IFRS 15 may lead to significant changes in the pattern of revenue and profit recognition. Careful consideration and planning will be needed for a range of issues, including the effect on: Compliance with bank covenants; and Performance based compensations
Required: Explain the possible reasoning behind the advice above.
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Supply Chain Management Accounting Managing Profitability Working Capital And Asset Utilization
Authors: Simon Templar
1st Edition
0749472995, 978-0749472993
