Making IFRS 15 revenue recognition easy

Navigating the intricacies of revenue recognition requires more than just basic tools. It requires a sophisticated approach, addressing complexities in ongoing IFRS 15 compliance and delivering precise note disclosures.

Envoria’s IFRS 15 software module combines advanced contract management and revenue recognition software to helo you easily identify, record, and disclose diverse revenue streams.

With proven expertise in IFRS 15 accounting, Envoria is your trusted partner for IFRS 15 compliance and seamless revenue recognition.

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Cover all IFRS 15-related work steps

Identify contracts

Capture and manage contracts with customers.

  • Contract details
  • Customer information
  • Start and end dates

Identify performance obligations

Determine the performance obligations within each contract.

  • Contract components
  • Additional options
  • Delivery timeline

Determine the transaction price

Establish the price the company will receive for providing the service.

  • Fixed prices
  • Variable components
  • Discounts and bonuses

Allocate the transaction price

Distribute the transaction price among the identified performance obligations.

  • Relative standalone selling
    prices
  • Allocation method
  • Documentation

Recognize revenue

Record revenue when a performance obligation is satisfied.

  • Timing of satisfaction
  • Recording revenue entries
  • IFRS 15 reporting processes

Meet disclosure requirements

Prepare financial statement disclosures and reports in accordance with IFRS 15.

  • Notes to the financial statements
  • Segment reporting
  • Comparative figures

Real-world application of IFRS 15 revenue recognition

Envoria’s IFRS 15 software module has been used extensively
in real-world applications. Find best practices here:

  • Revenue allocation between performance
    obligations/contract components
  • Allocations of transactions prices
  • Mapping of additional performance obligations
  • Revenue recognition by percentage of completion
  • Revenue recognition over time
  • Consideration of costs and commissions
  • Contract asset/ liability allocation
  • Combination with lease components under IFRS 16
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Special revenue accounting features

Designed to reduce IFRS 15 reporting complexity and increase efficiency.

Full integration

Full API capability (Web/REST) and tool-specific interfaces allow you to seamlessly integrate our SaaS revenue recognition solution into your existing system landscape.

Automation

Use manual data entry or semi-automated (Excel upload) and automated processes to
accommodate diverse workflows and data availability scenarios.

(Pre) Configuration

Choose from preconfigured reporting templates, or customize KPI dashboards to monitor your data and make insightful comparisons over time.

Certification & auditability

Envoria is audit-proof and ISAE 3402 certified, ensuring that the software meets the highest standards for security, data management, and audit checks.

Show all cross-modul features

3 reasons to choose Envoria as IFRS 15 software

Envoria’s IFRS 15 revenue recognitiong software is designed for seamless IFRS 15 alignment with revenue recognition standards, offering fast implementation, full integration, and flexibility to suit your unique needs.

IFRS 15 alignment

Envoria's revenue recognition software is specifically designed to align seamlessly with the principles and requirements of IFRS 15. lts robust features and functionalities cater to the intricate revenue recognition guidelines outlined in the standard, ensuring compliant reporting and minimizing potential errors.

Full integration

Envoria offers a user-friendly interface and customizable options, allowing your company to tailor the software to your unique processes and system landscape. This adaptability ensures a smooth integration of the software into existing (ERP) systems, enhancing efficiency and reducing the learning curve for your employees.

Fast implementation

Initiating the IFRS 15 implementation journey with a 2 hours kick-off meeting, Envoria
will get your new IFRS 15 process up and running in just four weeks. The timeline may
vary based on different factors such as the number of contracts and amendments, as well as your account structures and required reports.