changes in ias 18 and which one to use in dec 2015 exam ias 18 or ifrs 15……

This topic has 5 replies, 3 voices, and was last updated 10 years ago by dhameelolar.

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October 8, 2015 at 4:56 pm #275575
sana855
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hello guys can any one tell me what are the recent changes in p2
and which standard we are suppose to use for dec 2015 exam ias 18 or ifrs 15
October 9, 2015 at 4:59 pm #275671
dhameelolar
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ias 18 and ias 11 are no longer applicable, they both have been replaced with ifrs 15
October 9, 2015 at 8:51 pm #275692
sana855
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So for exam purpose we have to take guidance from ifrs 15 ryt?
Anyways thanks
October 12, 2015 at 5:55 am #275935
dhameelolar
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Yea from ifrs 15
October 19, 2015 at 6:56 pm #277632
shanmalik
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is there any difference between ias 18 and ifrs 15 or its just merely a chnge of name
October 21, 2015 at 9:51 am #278036
dhameelolar
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they’re real different, ifrs 15 involves a 5 step model for revenue recognition, identifying the transaction price, performance obligations, stand alone selling price and then splitting the transaction price over the performance obligations, it’s best you read up on it with the open tuition notes
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