IFRS 15 establishes a five-step model for revenue recognition that can significantly impact the timing of revenue recognition, depending on the specifics of a contract with a customer. Here's how:

1. Identify the Contract with a Customer: Revenue can only be recognized when a contract is legally enforceable and certain criteria are met, such as the parties' rights, payment terms, etc. If a contract does not meet these criteria, revenue recognition is deferred until the criteria are met.
2. Identify the Performance Obligations in the Contract: If a contract involves multiple goods or services, each distinct good or service is considered a performance obligation and revenue is recognized when (or as) each performance obligation is satisfied.
3. Determine the Transaction Price: The transaction price may include variable consideration (such as discounts, rebates, bonuses, etc.) which could be estimated at the inception of the contract, potentially impacting the timing and amount of revenue recognized.
4. Allocate the Transaction Price to the Performance Obligations: If there are multiple performance obligations, the transaction price is allocated to each performance obligation based on the relative standalone selling prices. This could impact the timing of revenue recognition if the obligations are fulfilled at different times.
5. Recognize Revenue when (or as) the Entity Satisfies a Performance Obligation: Revenue is recognized when control of a good or service transfers to a customer. This can be over time (for services or long-term contracts) or at a point in time (for most goods). The timing of control transfer can have a significant impact on when revenue is recognized.

These principles can lead to earlier recognition of revenue compared to previous standards (for example, if control of a good or service transfers over time) or to deferred recognition (for example, if control transfers at a point in time, or if a contract does not initially meet the criteria for recognition).