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Our Financial Reporting Advisory team helps clients understand changes in accounting standards and develop change strategies.
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Every business is different, the challenges they face vary but all need bespoke solutions. Businesses also share common ground when it comes to striving for reducing costs and improving efficiencies.
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Grant Thornton’s audit methodology harnesses proven processes and cutting-edge technology to deliver business benefits.
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Transactions are significant events in the life of a business, so the stakes are high for both buyers and sellers.
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IFRS
A new global standard on revenue – construction
31 Jul 2014In May 2014 the International Accounting Standards Board and the US Financial Accounting Standards Board issued IFRS 15 'Revenue from Contracts with Customers'. This new Standard will be effective from 1 January 2017. It explains how to recognise revenue and provides additional guidance in areas not covered by existing IFRSs.
Our Industry Insights series summarises IFRS 15 and explores what it means for various industries. This issue looks at the construction industry and talks you through the implications in five steps.
