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mining sector ifrs 15

31 July 2017 Utilitywise plc Utilitywise the Company or the Group Early Adoption of IFRS 15 Utilitywise a leading independent utility cost management consultancy today announces that it will adopt the accounting standard IFRS 15 Revenue from Contracts with Customers on 1 August 2017

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    of IFRS 15 IFRS 15 Revenue from Contracts with Customers Rights held under licensing agreements in scope of IAS 38 for items such as motion picture films video recordings plays manuscripts patent and copyrights IAS 38 Intangible Assets for leases of other types of intangible asset a lessee is permitted to apply IFRS 16 but not

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    Revenue standard Mining industry supplement Revenue recognition in the mining industry might appear to be simple but complexities can arise from common contractual arrangements This supplement to our revenue recognition publication highlights some of the key areas of challenge for mining entities

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    May 11 2017 Early Preparation is the key for successful implementation A well planned implementation approach could bring the desired results and It may impact the entire Organization its strategy and business model and Each industry has different dynamics and will have different implications of IFRS 15 and First Time Adoption of IFRS impact more than

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  • IFRS 15 Revenue from Contracts with Customers

    IFRS 15 Revenue from Contracts with Customers 2 Defined terms IFRS 15 defines the following terms that form an integral part of this IFRS Contract An agreement between two or more parties that creates enforceable rights and obligations Customer A party that has contracted with an entity to obtain goods or services that are an output of the

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  • IFRS 15 Times up

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    IFRS 15 is applicable for entities reporting in accordance with IFRS for periods beginning on or after 1 January 2018 with earlier application permitted The Standard is the result of a joint project of IASB and FASB to develop a converged set of accounting principles for revenue recognition

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  • All You Wanted to Know About IFRS 15 LedgerBench

    The IFRS 15 helps entities and organizations take this call by demarcating a clear and concise process of recognizing revenue Its 5 step model can help your business determine the nature of transactions conditions of transactions pricing and the parties of association that come together to make revenue

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  • Identify a Contract with a Customer IFRS 15

    Paragraph IFRS 46E states that it was not the intention that many contracts should fail the collectability of consideration condition as this condition only aims at assuring that revenue will be recognised from valid contracts that represent genuine transactions IFRS 43 See also Examples 1 2 and 3 accompanying IFRS 15

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    IFRS 15 is only applied to contracts or charters that are not completed as at the date of initially applying the standard which in many instances will be 1 January 2018 and

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  • IFRS Industries PwC

    IFRS 15 Revenue from contracts with customers this standard supersedes the current IAS 11 Construction Contracts and IAS 18 Revenue standard and imposes new regulations on reporting turnover from projects Implementing this standard in businesses in the construction sector requires a considerable implementation effort

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    Several groups in the GCC real estate sector elected to adopt IFRS 15 as early as 2015 The new standard allowed for early adoption and if real estate contracts met certain conditions it allowed real estate companies to recognise their offplan real estate sales earlier than under International Financial Reporting Interpretations Committee IFRIC 15

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  • Early Adoption of IFRS 15 Company Announcement

    31 July 2017 Utilitywise plc Utilitywise the Company or the Group Early Adoption of IFRS 15 Utilitywise a leading independent utility cost management consultancy today announces that it will adopt the accounting standard IFRS 15 Revenue from Contracts with Customers on 1 August 2017

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    5 Background on IFRS 15 26 IFRS 15 Revenue from Contracts with Customers will replace IAS 18 Revenue IAS 11 Construction Contracts and related IFRIC and SIC interpretations The standard will be adopted from 1 January 2018 and is expected to commence in the public sector with effect from 1

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  • IFRS 15 Revenue from Contracts with Customers Course

    From 1 January 2018 all companies applying IFRS must adopt IFRS 15 This new standard revolutionises the way that companies look at their revenue and can impact on the timing and amount of revenue that is recognised The impact of this new standard on your organisation may be significant especially in construction with the potential for revenue to be deferred and any organisation that sells

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  • PwC HK IFRS 15 Revenue

    IFRS 15 Revenue from Contracts with Customers was issued in May 2014 It applies to an annual reporting period beginning on or after 1 January 2018 The standard specifies how and when an IFRS reporter will recognise revenue It also requires such entities to provide financial statement users with more informative and relevant disclosures

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  • Metsos restated financial information for 2017 IFRS 15

    Metsos restated financial information for 2017 IFRS 15 and Flow Controls services business Metso Corporation stock exchange release April 16 2018 at 945 am EEST As of January 1 2018 Metso has adopted the IFRS 15 Revenue from Contracts with Customers standard by using the full retrospective method

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