DEFINITION: Laws pertaining to an agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other's duty or a remedy for the breach of the other's duty.
IFRS 15 has been widely publicized as a fundamental change in the way that businesses recognize and report revenue. But what do you really need to know about revenue from contacts with customers under IFRS 15? Learn why the IFRS 15 was issued, the 5-step process for recognizing revenue, industries likely to be affected, and more.
The purpose of this white paper is to highlight best practices of identifying and managing changes that might occur on a construction project, and provide a process to effectively manage changes on construction projects.
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