Post-implementation Review of IFRS 15 Revenue from Contracts with Customers

The IASB met on 20 March 2024 to analyse stakeholder feedback on the Request for Information Post-implementation Review of IFRS 15 Revenue from Contracts with Customers. The analysis covered matters raised by stakeholders in relation to:

• determining a transaction price;
• determining when to recognise revenue; and
• applying disclosure requirements.

Determining the transaction price (Agenda Paper 6A)

In response to the feedback, the IASB tentatively decided to take no further action on the matters related to:

1. variable consideration;
2. sales-based taxes;
3. non-cash consideration; and
4. other aspects of determining the transaction price.

All 14 IASB members agreed with these decisions.

The IASB also discussed matters related to the consideration payable to a customer. The IASB was not asked to make any decisions on these matters.

Determining when to recognise revenue (Agenda Paper 6B)

In response to the feedback, the IASB tentatively decided to take no further action on the matters related to:

1. the application of the concept of control and the criteria for recognising revenue over time;
2. the measurement of progress for performance obligations satisfied over time; and
3. other aspects of determining when to recognise revenue.

Thirteen of 14 IASB members agreed with decision (a) and all 14 IASB members agreed with decisions (b)–(c).

Disclosure requirements (Agenda Paper 6C)

In response to the feedback, the IASB tentatively decided to take no further action on the matters related to:

1. respondents’ concerns about the cost–benefit balance of some disclosure requirements;
2. variation in the quality of disclosed information; and
3. other aspects of disclosure requirements.

Twelve of 14 IASB members agreed with decisions (a)–(b) and all 14 IASB members agreed with decision (c).