Revenue Recognition Tool (IFRS15)

📊 IFRS 15 Revenue Recognition Calculator

Comprehensive Construction & Project Contract Revenue Calculator

Company Information

Company Name *

Report Date

Contract Management

All Contracts

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Portfolio Summary

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1

Identify Contract

2

Performance Obligations

3

Transaction Price

4

Allocate Price

5

Recognize Revenue

Step 1: Identify the contract with a customer. Ensure contract approval, rights are identifiable, payment terms are clear, commercial substance exists, and collection is probable.

Contract Information

Contract Name/Number *

Customer Name

Contract Start Date

Expected Completion Date

Contract Description

Step 3: Determine Transaction Price

Fixed Contract Price (Currency)

Variable Consideration (if any)

Expected Penalty/Bonus

Retention Amount

Contract Criteria Assessment

Verify that the contract meets IFRS 15 criteria for revenue recognition

Contract has been approved and parties are committed

Rights regarding goods/services can be identified

Payment terms are identified

Contract has commercial substance

Collection of consideration is probable

Step 2: Identify performance obligations in the contract. For construction contracts, determine if control transfers over time or at a point in time.

Performance Obligation Setup

Performance Obligation Type Satisfied Over Time (Construction) Satisfied at Point in Time

Number of Performance Obligations

Over Time Criteria (at least one must apply):
• Customer receives and consumes benefits as entity performs
• Entity's performance creates/enhances an asset customer controls
• Entity creates asset with no alternative use and has enforceable right to payment

Customer simultaneously receives and consumes benefits

Performance creates/enhances customer-controlled asset

No alternative use + enforceable payment right exists

Step 5: Recognize revenue when (or as) performance obligations are satisfied. Select measurement method for percentage of completion.

Percentage of Completion Method

Measurement Method Input Method (Costs Incurred) Output Method (Units/Milestones)

Input Method - Cost-Based Measurement

Total Estimated Contract Costs

Costs Incurred to Date

Output Method - Units/Milestones

Total Units/Milestones

Units/Milestones Completed

Billings and Cash Collection

Total Billed to Date

Cash Received to Date

Cost Adjustments (Optional)

Materials Purchased (Not Yet Used)

Inefficiencies/Wasted Costs

📈 Revenue Recognition Results

Percentage Complete

0%

Revenue Recognized to Date

$0

Contract Asset / (Liability)

$0

Accounts Receivable

$0

0%

📝 Journal Entries

Metric	Amount	Notes

Report Options

Select Contract for Report -- Select a Contract --

Report Type Single Contract Report Portfolio Summary Report

Company Name

IFRS 15 Revenue Recognition Report

IFRS 15 Five-Step Analysis

Revenue Recognition Schedule

Period	Costs Incurred	% Complete	Revenue Recognized	Billings	Contract Asset/(Liability)

Key Performance Indicators

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