This tool helps to summarize the key conditions of customer contracts under IFRS 15. You can upload Word, PDF or image and it pulls out the information needed for IFRS 15 accounting.

The program scans the document for the key inputs, such as promised goods and services, variable-consideration clauses, transfer-of-control terms, significant financing components, principal-versus-agent indicators, and more.

Finally, the script writes two tabs to Excel:

• Read Me – a brief summary about the procedure
• IFRS 15 Extract – for each contract, the reviewed list of 16 key data points, each with status, clause reference, 30-word snippet, IFRS 15 paragraph link and short reasoning

Always make sure to review the output against the source contracts.

The result looks like this: