Legal Issues in IFRS 15

About this course

This course explains how legal concepts affect the practical application of IFRS 15 in revenue recognition. IFRS 15 is built around enforceable contractual rights and obligations, and many of its key requirements cannot be applied properly without understanding basic legal ideas such as contracts, enforceability, right to payment, penalties, warranties, and principal versus agent.The course is designed for accounting and finance professionals who already work with IFRS 15 and want to improve the quality and robustness of their revenue judgements. It focuses on situations where accounting outcomes depend on whether contractual rights are legally effective, rather than on abstract legal theory. Through practical examples, the course shows why a signed agreement may not qualify as a contract for IFRS 15 purposes, how customary business practices can change legal rights, when penalty clauses should be ignored in measuring transaction price, and why legal and accounting concepts of agency often differ.The lectures combine clear explanations with realistic scenarios drawn from practice, helping you recognise when legal issues matter and when they do not. By the end of the course, you will be able to apply IFRS 15 more accurately, avoid common revenue recognition errors, and communicate more effectively with lawyers when contractual issues arise.