International Financial Reporting Standard 15 Revenue from Contracts with Customers
(IFRS 15) is set out in paragraphs 1–129 and Appendices A–D. All the paragraphs have
equal authority. Paragraphs in bold type state the main principles. Terms defined in
Appendix A are in italics the first time that they appear in the Standard. Definitions of
other terms are given in the Glossary for International Financial Reporting Standards.
The Standard should be read in the context of its objective and the Basis for Conclusions,
the Preface to International Financial Reporting Standards and the Conceptual Framework for
Financial Reporting. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
provides a basis for selecting and applying accounting policies in the absence of explicit
guidance.