Delayed Revenue Recognition under AASB 15
Definition
In project milestone billing, failure to align revenue recognition with AASB 15's five-step model (identify contract, performance obligations, allocate price, recognise on satisfaction) causes timing mismatches, inflating deferred revenue or accelerating income prematurely.
Key Findings
- Financial Impact: 20-40 hours/month manual reconciliation; 2-5% revenue timing distortion
- Frequency: Quarterly BAS lodgements amplify errors
- Root Cause: Manual progress measurement without automated systems
Why This Matters
The Pitch: Operations Consulting firms in Australia 🇦🇺 waste 20-40 hours/month on manual AASB 15 compliance. Automation of milestone tracking eliminates this drag.
Affected Stakeholders
Finance Manager, Project Controller, Accountant
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
AASB 15 Misallocation Penalties
Unbilled Milestones in Projects
ATO Penalties for Revenue Misrecognition
Change Management Overtime Costs
Training Rework Penalties
Delayed Consulting Invoicing
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