IFRS 15 - Revenue from Contracts with Customers

14 March, 2019

IFRS 15 applies to financial periods beginning on or after 1 January 2018. All IFRS reporters are impacted by this new revenue. Some industries will experience greater changes than others. However, the impacts to your business, systems, data needs and financial reporting are expected to be far reaching. This alert serves as a reminder of how IFRS 15 would impact to your business.

  1. IFRS 15 introduces a new 5-step model with a focus on when ‘transfer of control’ occurs (rather than when ‘risk and rewards’ are passed to customers)
  2. The impact extends beyond accounting (e.g. contracts, executive compensation agreements, tax, debt covenants, investor relations, operational processes and systems, business models, pricing, etc.).

For more details on IFRS 15, please download our IFRS Alert below.


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Tran Hong Kien

Partner, Assurance Services, PwC Vietnam

Tel: +84 24 3946 2246

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