–– IFRS 15 Revenue from Contracts with Customers (not yet adopted by
the EU) – this standard applies to annual reporting periods beginning
on or after 1 January 2017 (in the case of H&M, from the 2017/2018
financial year). The standard replaces all previously issued standards
and interpretations dealing with revenue (i.e. IAS 11 Construction
Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes,
IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18
Transfers of Assets from Customers and SIC 31 Revenue: Barter Transactions
Involving Advertising Services).