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Explain the possible reasoning behind the advice

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Reference no: EM132972942

When IFRS 15/AASB 15 Revenue from Contracts with Customers was released, the accounting firm BDO issued a short document entitled IFRS Industry Issues:

Construction & Real Estate. In the document they stated: The adoption of IFRS 15 may lead to significant changes in the pattern of revenue and profit recognition.

Careful consideration and planning will be needed for a range of issues, including the effect on: 

Compliance with bank covenants; and Performance based compensations

Required:

Problem 1: Explain the possible reasoning behind the advice above.

Reference no: EM132972942

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