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IFRS 15 Revenue from Contracts with Customers was issued by the IASB on 28 May 2014 and has a mandatory effective date of 1 January 2018. The Board has undertaken a number of activities to support consistent application of the Standard. You can find information about all of these activities by following the links below. This includes educational material prepared since the Standard was issued and information about the activities of the Transition Resource Group. In addition, Agenda Decisions published by the Interpretations Committee that relate to this Standard can be found by expanding the link below.

Transition Resource Group

In June 2014, the Board, along with the US Financial Accounting Standards Board (FASB), announced the formation of a joint Transition Resource Group (TRG). The TRG was set up to support implementation of IFRS 15, and the FASB’s Topic 606 Revenue from Contracts with Customers, by considering potential implementation issues submitted by stakeholders. After each TRG meeting, the Board and the FASB determined what action, if any, to take relating to each issue considered by the TRG.

The TRG met jointly on six occasions in 2014 and 2015. Most of the topics discussed by the TRG were determined by the TRG as sufficiently addressed by the requirements in IFRS 15. However, five topics emerging from the TRG’s discussions resulted in the Board issuing some clarifications to IFRS 15 in April 2016.

The work of the IFRS constituents of the TRG is now complete.

IFRS Interpretations Committee

The Interpretations Committee has considered a number of questions submitted to it related to the Standard.

When the Interpretations Committee decides not to add a standard-setting project to the work plan to address a question submitted, it explains why in an agenda decision. In many cases, agenda decisions also include explanatory material that explains how the applicable principles and requirements in IFRS Standards apply to the transaction or fact pattern described in the agenda decision.

Date Document


Other Board discussions and education materials

The materials below record other potential implementation issues discussed by the IASB after issuance of IFRS 15. These relate to issues that were not considered by the TRG. These discussions did not result in any Standard setting activity.

The agenda paper for the December 2015 recording can be accessed here.