PFRS 15 Revenue Recognition: Overview and Practical Application

In this course you will learn how to apply in 5 steps the new revenue recognition standard, PFRS 15 Revenue Recognition issued in May 2014 applicable for accounting period effective for an entity's first annual PFRS financial statements for periods beginning on or after 1 January 2018.

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Access for 3 months

1.5 CPD Units

Enrollment closed

Course description

This online course provides discussion of the new PFRS 15, Revenue from Contracts with Customers. This course will also update learners on how the new standard has changed the application of revenue recognition.

The course has a ‘Check Your Understanding’ Course Quiz for every section, and a Final Assessment at the end of the course, which will allow you to test what you have learned throughout the course and put your learning into practice.
The learner gets CPD units upon completion of the course.

Why take this course?

Completing the course will enable learners to apply the five-step model of the new revenue recognition standard. It will also enable them to apply the new revenue recognition standard in a practical manner by using common transactions and various industry examples. Lastly, learners will be able to learn how the new revenue recognition will change the presentation and disclosure requirements in the financial statements.

The course is aimed at those who have working knowledge of the current revenue recognition standards under PFRS/IFRS and will be useful for:

· Finance Directors/Controllers/Head of Finance

· Accountants/Bookkeepers

· Auditors

· Business Owners and Managers

· Entrepreneurs, Professionals and Learners

What will I learn?

This e-learning course of the will help you to keep updated of the new revenue recognition standards.

Frequently asked questions

When does the course begin?

This class is self paced. You can begin whenever you like and then follow your own pace. It's a good idea to set goals for yourself to make sure you stick with the course.

How long will the course be available?

This class will always be available!

Can I skip individual videos? What about entire lessons?

Yes! The point is for you to learn what YOU need (or want) to learn. If you already know something, feel free to skip ahead. If you ever find that you're confused, you can always go back and watch something that you skipped.

What should I do while I'm watching the videos?

Learn actively! You will retain more of what you learn if you take notes, draw diagrams, make notecards, and actively try to make sense of the material.

This course cannot be used and distributed freely by those registering with the site, as well as altered from the original form, subject to the terms of the CPDPhilippines instructor’s copyright over the material.