IFRS 15 for the software industry – In brief
It has long been understood that the software industry would be one of the industries more significantly affected by the adoption of IFRS 15. The implementation of IFRS 15 in the software industry is proving to be a challenge, as expected. Even if there is no significant change to the pattern of revenue recognition, management will need to make a number of new judgements and estimates. This document provides additional insight into some of the key judgements facing the industry during the implementation phase.