IFRS 15 has significantly impacted the financial reporting and disclosures of companies. Here are some of the implications:

1. Revenue Recognition: IFRS 15 introduced a new five-step model for revenue recognition that is based on the transfer of control of goods or services to customers. This could lead to changes in the timing and amount of revenue recognized, which will directly impact the income statement.
2. Contract Costs: IFRS 15 also provides guidance on accounting for costs related to a contract. Some costs that were previously recognized as expenses might need to be capitalized under the new standard. This affects the balance sheet and the income statement.
3. Disclosures: The new standard requires more comprehensive and detailed disclosures about revenue and contract balances. Companies are required to provide information about the disaggregation of revenue, contract balances, performance obligations, and significant judgments made in applying IFRS 15.
4. Impact on Financial Ratios:

• • Profit Margin: Changes in the timing and amount of revenue and contract costs recognized could impact the company's reported profit and thus the profit margin.
  • Asset Turnover: Changes in the balance of contract assets and contract liabilities will affect the total assets and could impact the asset turnover ratio.
  • Current Ratio: If a significant part of the company's liabilities are contract liabilities (unearned revenue), changes in when these are recognized as revenue could impact the current ratio.
  • Return on Assets: Changes in profit and total assets, as mentioned above, will also affect the return on assets ratio.

1. Transition Impacts: The transition to IFRS 15 could be a significant effort for many companies. They might need to modify their IT systems, educate their staff about the new standard, and possibly renegotiate contracts with customers. The effects of these changes could also have temporary impacts on reported results and financial ratios.

Given the complexity of IFRS 15, it's important for companies to understand its implications on their specific circumstances and consider these in their financial reporting and analysis. Similarly, users of financial statements should consider these implications when interpreting and comparing the financial results of different companies.