IFRS 15 – A clearer view - KPMG Denmark
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IFRS 15 – A clearer view of the new revenue standard

IFRS 15 – A clearer view of the new revenue standard

Proposed amendments to IFRS 15 clarify four key aspects of the new revenue standard.



KPMG in Denmark


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By taking a second look at IFRS 15, the IASB hopes to respond to feedback that the new revenue standard lacks clarity in some areas.

Users and preparers of financial statements have said they find aspects of IFRS 15's revenue requirements unclear.

Following its announcement of a one-year deferral of the effective date to 2018, the IASB has now published proposed amendments to the new standard.

The FASB plans several detailed exposure drafts, but the IASB expects to issue just this one set of targeted amendments.

Our suite of publications can help you to understand the proposals and the possible impacts for your business – from high-level visual summary to detailed commentary.


“When the Boards published their new joint standard, on revenue recognition we said that the real work was just beginning – and so it has proved. The new standard has been the subject of intense scrutiny and interpretative focus, years before it becomes effective.”

How do the Boards’ proposals compare?

Both the IASB and the FASB are addressing:

  • licences of intellectual property;
  • principal vs agent considerations;
  • identifying performance obligations; and
  • transition,

but each is proposing different clarifications.

The FASB is also proposing clarifications on sales taxes, collectibility and non-cash consideration.

However, while the two Boards are taking slightly different approaches to clarifying the requirements, they do not expect to see significant differences in practice.

What could this mean for you?

Now that the IASB’s proposals are out, the big question is how they might affect your implementation plan.

If you would like to discuss the possible impacts for your business, please speak with your usual KPMG contact.

You have until 28 October 2015 to provide your comments on the proposals to the IASB.

Find out more

View our SlideShare presentation for a high-level visual summary of the proposals. If you're unable to view the presentation online, you can download a PDF version.

Our publication New on the Horizon: Clarifications to IFRS 15 can help you assess the potential impact of the proposed changes on your business, and how to respond to the IASB.

We will continue to report on significant developments and further decisions by the IASB on the new revenue standard. 

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