HKFRS 15 “Revenue from Contracts with Customers” establishes principles for reporting useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. HKFRS 15 supersedes HKAS 11 “Construction Contracts”, HKAS 18 “Revenue” and four other Interpretations and became effective from 1 January 2018. This 1.5-hour seminar is a practical sharing of some common pitfalls of applying HKFRS 15 and it includes some sharing on specific guidance in HKFRS 15: 

§ Principal versus agent considerations

§ Significant financing component in contract

§ Original Equipment Manufacturing (OEM)

§ Input method or output method of measuring progress

Deloitte specialist, Mr. Ernest Lee, has pleasure in sharing the HKFRS 15 with us.  

Event details:

Mr. Lee is a Technical Partner of Deloitte China.  He has over 25 years of experience in auditing and providing technical advice on accounting and auditing related matters in a wide range of industries.  Ernest leads the Firm's Technical Accounting Group on revenue recognition in the Asia-Pacific Area, and is part of Deloitte Global's Expert Advisory Panel on revenue recognition.

Ernest is currently the Deputy Chairman of the Financial Reporting Standards Committee ("FRSC") of the Hong Kong Institute of Certified Public Accountants (“HKICPA”).  He is also a member of various Advisory Panels of the HKICPA on financial reporting subject matters.  Ernest is a member of the Financial Reporting Review Panel of the Financial Reporting Council .  He is also a Council Member and the Treasurer of the Hong Kong Institute of Chartered Secretaries.

Please [e-register] immediately and send in your cheques payable to “AWAHK” (with the names of participant marked at the back of the cheque) to our office at 8/F, Chinachem Tower, 34-37 Connaught Road Central, Hong Kong.  Enrollment is made on a first come first served basis with priority to AWAHK members.

For further information, please contact Sam Chak, Office Manager of AWAHK at 6229 9628 or 86 178 1749 9143.  You can also email to info@awahk.hk.