Revenue – ifrs 15 handbook

Greater specificity in the revenue standard
IFRS 15.BC355
IFRS has general requirements on disclosing an entity’s significant accounting 
estimates and judgements, but the revenue standard provides specific areas for 
which disclosures are required about the estimates used and judgements made 
in determining the amount and timing of revenue recognition.

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© 2019 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved.
12 Disclosure | 325
12.2 Interim disclosures
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12.1.5 
Assets recognised for costs to obtain or fulfil a contract 
with a customer
IFRS 15.127–128
An entity discloses the closing balance of assets that are recognised from the 
costs incurred to obtain or fulfil a contract with a customer, separating them by 
their main category – e.g. acquisition costs, pre-contract costs, set-up costs 
and other fulfilment costs – and the amount of amortisation and any impairment 
losses recognised in the reporting period. An entity describes the judgements 
made in determining the amount of the costs incurred to obtain or fulfil a contract 
with a customer and the method used to determine the amortisation for each 
reporting period.
12.2 
Interim disclosures
IAS 34.16A(g)
IFRS requires entities to include information about disaggregated revenue in their 
interim financial reporting.
Extent of interim revenue disclosures requires judgement 
IAS 1.17(c), 34.15–15C, 16A(l)
The interim reporting standard includes only one explicit requirement related 
to revenue from contracts with customers – i.e. to provide information about 
disaggregated revenue. However, to meet other requirements in the interim 
reporting standard – e.g. to provide an explanation of events and transactions 
that are significant to an understanding of the changes in the entity’s financial 
position and performance since the most recent annual reporting period – other 
revenue disclosures in addition to disaggregated information may be relevant. 
An entity considers its specific facts and circumstances, including guidance 
provided by a local regulator, and exercises judgement in determining the extent 
of additional revenue disclosures in the interim period.

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© 2019 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved.
326 | Revenue – IFRS 15 handbook
13 
Effective date and 
transition