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The main focus of IFRS 15 is on revenue recognition from contracts with customers. This standard provides a comprehensive framework for recognizing revenue and aims to standardize how revenue is reported across different entities and industries. It establishes the principles for recognizing revenue when control of goods or services is transferred to the customer, which is essential for providing a clearer understanding of a company's financial performance.

IFRS 15 introduces a five-step model that companies must follow to determine when and how much revenue to recognize. This model includes identifying contracts with customers, identifying the performance obligations in the contract, determining the transaction price, allocating that price to the performance obligations, and recognizing revenue when the performance obligations are satisfied.

Understanding this framework is crucial for proper financial reporting, ensuring consistency, transparency, and comparability across organizations. It also enhances the relevance of revenue figures in the financial statements, which stakeholders rely on for making informed decisions.