Country Garden boasted that revenues grew 36% in 1H17 but neglected to tell investors that this was primarily due to an accounting change: the early adoption of IFRS 15. When introduced fully in 2018, this new standard will result in major changes to how revenue is recognised. Moreover, the transition could create confusion as companies are not obliged to restate prior periods. A small number of companies have implemented the standard early or quantified the impact on their financials. However, not all companies will be revising up profits. Some have experienced large profit declines: aero engine maker, Rolls-Royce, would have seen operating profit drop by nearly two-thirds. Few Asian companies have given any indication of the potential impact of IFRS 15: for some it may be substantial. Companies that could be most affected include Chinese property developers, telcos, those with long-term contracts, and software providers.