IAS 7 at a glance
Insights into IAS 7IAS 7 sets out the requirements for presenting statements of cash flows. This article provides an overview of its objective, scope and key requirements.
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Step 3: Determining the transaction price
Insights into IFRS 15Accurate and consistent revenue recognition is a cornerstone of sound financial reporting for all businesses, ensuring comparability across industries and markets. The objective of determining the transaction price under IFRS 15 is to identify the amount of consideration an entity expects to be entitled to in exchange for transferring goods or services to a customer.
Principal versus agent considerations
Insights into IFRS 15IFRS 15 ‘Revenue from Contracts with Customers’ was jointly developed by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) to harmonise revenue reporting under IFRS and US GAAP. In this article, we explore how to assess principal versus agent relationships and their impact on revenue recognition.
What is IFRS 2?
Insights into IFRS 2Our ‘Insights into IFRS 2’ series explains the fundamentals of accounting for share-based payments and helps reporting entities navigate the complexities of the Standard. This article provides an overview of the objective and scope of IFRS 2, including the types of transactions to which it applies.
Step 2: Identifying a performance obligation
Insights into IFRS 15Accurate and consistent revenue recognition is a cornerstone of sound financial reporting for all businesses, ensuring comparability across industries and markets. The objective of IFRS 15 ‘Revenue from Contracts with Customers’ is not to alter the definition of revenue, but to improve comparability by establishing a clear framework for recognising and measuring revenue.
Example Interim Condensed Consolidated Financial Statements 2026
IFRSOur ‘Example Interim Condensed Consolidated Financial Statements 2026’ publication provides practical guidance and illustrative disclosures to support reporting entities in preparing interim financial statements in accordance with IFRS. This article focuses on the application of IAS 34 for a six-month interim reporting period ending 30 June 2026.
Step 1: Identifying a contract with a customer
Insights into IFRS 15Our 'Insights into IFRS 15' series summarises the key areas of the Standard, highlighting some areas that are challenging to apply in practice, to assist reporting entities in understanding how to apply IFRS 15's requirements. This article focuses on identifying a contract with a customer and the criteria that must be met before revenue can be recognised.
IFRS Example Consolidated Financial Statements 2025
IFRSOur 'IFRS Example Consolidated Financial Statements 2025' publication provides practical guidance and illustrative disclosures to help reporting entities understand and apply the latest IFRS Accounting Standards. This article highlights key presentation and disclosure requirements, including the impact of IFRS 18 on financial reporting.
Overview and scope
Insights into IFRS 15Our ‘Insights into IFRS 15’ series summarises the key areas of the Standard, highlighting some areas that are challenging to apply in practice, to assist reporting entities in understanding how to apply IFRS 15’s requirements. This article focuses on the objective and scope of IFRS 15.
IFRS Alerts
IFRS AlertsIFRS Alerts covering the latest International Financial Reporting Standards (IFRS), Interpretations of Standards (IFRIC) or amendments to existing IFRS Standards published by the International Accounting Standards Board (IASB).
Example Sustainability-related Financial Disclosures 2025
IFRS Sustainability Disclosure StandardsWe have released the first Grant Thornton International IFRS Sustainability Disclosure Standards - Example Sustainability-related Financial Disclosures.
Classification of income and expenses in the statement of profit or loss
Insights into IFRS 18IFRS 18 replaces IAS 1 ‘Presentation of Financial Statements’ for annual reporting periods beginning on or after 1 January 2027. Our ‘Insights into IFRS 18’ series explains the new requirements of IFRS 18, highlighting some areas of the standard that we believe will be challenging to apply in practice.
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