THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
IFRS 15- Accounting for Revenue from Contracts with Customers Webinar
Date: 17th March 2022
Venue: Webinar
Time: 04.00pm – 06.00pm
OVERVIEW
IFRS 15 establishes principles that an entity is to apply in reporting useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and revenue and cashflows arising from contracts with customers. The standard specifies how and when to recognize revenue. It provides a five-step model which is applied to all contracts. It was issued in My 2014 and applies to an annual reporting period beginning on or after 1st January 2018.
Learning Objectives
To guide the discussion during the Webinar, the following areas will form the focus of discussion:
- Overview of IFRS 15
- Introduction and background
- Definition and scope under IFRS 15
- The five-step model
- Recognizing revenue and Contract costs
- Contract modifications and accounting treatment
- Presentation and disclosure
- How to account for contracts that include a right of return and/or warranty arrangements.
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 2 Structured CPD Units upon successfully completion of the Webinar.
FINANCIAL COMMITMENT:
The Webinar charges are Kshs. 1,000. Charges will cater for online video access fees, learning materials, and e-certificates of attendance
ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for webinar is mandatory on https://www.icpak.com/event-registration/Online Booking
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory.
NATIONAL INDUSTRIAL TRAINING AUTHORITY (NITA) REIMBURSEMENT:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
Further requests can be channeled to us via telephone calls on +254 719 074 000, (+254) 733 856262 or via email to onlinelearning@icpak.com.
We encourage members to regularly visit our website https://www.icpak.com for updates.
