revenue recognition has proved to be difficult and time consuming. (20 marks)
iv) A summary of how the new standard IFRS 15 would deal with a construction contract where construction activity took place over more than one accounting period. (20 marks)
20 marks are available for structure, presentation and referencing.
Details about the development of the new standard are available on the IFRS website
The word limit is 1,500 words maximum. You will be asked to include your word count on the coversheet when you submit your coursework.
Structure: You have been asked for a briefing document. They often start by setting out the scope of the briefing – that is similar to an intruction. You may find examples of briefing documents that conclude by summarising the main points. To that extent they are like a report and like an essay. You could look at some breifing documents on the internet to see how they are structured