Disaggregated revenue disclosures

Article

Disaggregated revenue disclosures

Clarity in financial reporting

Exploring the relevance and value of more transparent revenue disclosures

To date, many entities’ revenue disclosures under AASB 15 Revenue from Contracts with Customers have been quite simplistic. As a result, ASIC has made several enquiries of entities challenging the adequacy of revenue disaggregation disclosures. In many cases, entities were questioned about apparent inconsistencies in the disaggregation categories selected compared to other (and in many instances more detailed) information available in the market.

The current economic environment resulting from the impact of COVID-19 also serves as a perfect example demonstrating the importance of providing users of the financial statements with appropriately considered disaggregated revenue disclosures.

Download this edition of our Clarity publication, where we:

  • Consider what is required by the standard
  • Reflect on the disclosures seen in the Australian market, and ASIC’s response
  • Provide disclosure examples for entities to consider when preparing their own transparent disclosures.

Published: February 2021

Disaggregated revenue disclosures
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