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Version date: 26 February 2020 - onwards
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Costs of analysis for users of financial statements (paras. BC489-BC490)

BC489 The boards note that, as with all new requirements, there will be an educational and adjustment period for users of financial statements, during which they may incur costs. Those costs may include costs to modify their processes and analyses. However, the costs are likely to be non-recurring and are likely to be offset by a longer-term reduction in costs from the additional information that would be provided by the improved disclosure requirements. Users of financial statements may also observe a longer-term reduction in education costs, because of the common framework created by IFRS 15, which applies across jurisdictions, industries and transactions.

BC490 In the boards' view, the significant benefits to users of financial statements from IFRS 15 will justify the costs that the users may incur. Those benefits include:

(a) greater comparability and consistency of reporting revenue from contracts with customers;

(b) a better depiction of entities' performance; and

(c) improved un

Comparing proposed amendment...