Revenue recognition is a multifaceted and pervassive area of financial reporting, particularly in service industries whose operations are characterised by bundled contracts and variable pricing structures. This study examines how IFRS 15 -Revenue from Contracts with Customers- is being implemented within Zimbabwe’s private security sector, focusing on how firms interpret and apply the standard’s five-step revenue recognition model. While International Financial Reporting Standards exist to improve transparency, Zimbabwean security firms have unique struggles with revenue recognition. The  multi-currency regime which ultimately leads to dual pricing systems make translating transactions under IAS 21 tricky and high inflation which then requires IAS 29 adjustments. These economic realities, coupled with regulatory challenges, make reporting multi-service contracts far from straightforward. The study assesses compliance levels and explores practical difficulties in identifying performance obligations, allocating transaction prices, and recognizing revenue. Grounded in Revenue Recognition Theory and Institutional Theory, the research highlights technical factors influencing IFRS 15 application. Employing a mixed-methods approach, data was collected through structured questionnaires, document reviews, and audit reports from selected security. Results indicate that over 75% of firms fail to properly disaggregate bundled services, resulting in misstated revenues and audit discrepancies, while multi-currency billing, inflation reporting and outdated systems further hinder adherence. The study concludes that although IFRS 15 enhances financial transparency, effective implementation in Zimbabwe’s private security industry requires targeted staff training, system modernization, and sector-specific guidance.