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Hi Mike,
IFRS 15 Revenue from contracts needs to be applied for reporting periods beginning on or after 1 January 2017.
So for Dec exams if there is questions on revenue or construction contracts should we be using IAS 11 and IAS 18
IAS 11 and IAS 18 no longer exist! They are as relevant to your exams as are the dinosaurs! They’re dead. Gone. Extinct. No more. They are ex-standards
In your syllabus, firmly placed in your syllabus, is IFRS 15
Forget the applicable date from whence it must be followed. Early adoption is allowed
OK?
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