PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT
The conditional element of the price included in the performance-bonus contract is a frequent component of contracts concluded with customers in some sectors. It is a deferred component of the price, which may never (in whole or in part) become a consideration due. Due to lack of unambiguous provisi...
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| Format: | Article |
| Language: | English |
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Rzeszow University of Technology
2018-12-01
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| Series: | Humanities and Social Sciences |
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| Online Access: | https://hss.prz.edu.pl/hss/article/view/186 |
| _version_ | 1818732449381744640 |
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| author | Ewa MARUSZEWSKA |
| author_facet | Ewa MARUSZEWSKA |
| author_sort | Ewa MARUSZEWSKA |
| collection | DOAJ |
| description | The conditional element of the price included in the performance-bonus contract is a frequent component of contracts concluded with customers in some sectors. It is a deferred component of the price, which may never (in whole or in part) become a consideration due. Due to lack of unambiguous provisions in this respect in Polish domestic law and the entry into force of IFRS 15, the author raises the issue of accounting for such defined revenues. The aim is to analyze the provisions of IFRS 15 in the scope of a delivery contract with a performance bonus against the background of the provisions of the Polish Accounting Act. The verified thesis assumes that, although both regulations are consistent with the theoretical foundations of accounting, each of them differently recognizes the above-mentioned revenues. The goal was achieved by analyzing the regulations of IFRS 15, Polish Accounting norms and the presentation of a case study. The results confirmed a different recognition of revenues based on two analyzed legal regulations and indicated a large role of estimates in terms of revenue disclosures under IFRS 15. |
| first_indexed | 2024-12-17T23:33:45Z |
| format | Article |
| id | doaj.art-83228a66665a41838fe64bde50d56350 |
| institution | Directory Open Access Journal |
| issn | 2300-5327 2300-9918 |
| language | English |
| last_indexed | 2024-12-17T23:33:45Z |
| publishDate | 2018-12-01 |
| publisher | Rzeszow University of Technology |
| record_format | Article |
| series | Humanities and Social Sciences |
| spelling | doaj.art-83228a66665a41838fe64bde50d563502022-12-21T21:28:36ZengRzeszow University of TechnologyHumanities and Social Sciences2300-53272300-99182018-12-0125419520410.7862/rz.2018.hss.78186PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACTEwa MARUSZEWSKA0Business Informatics and International Accounting Department, University of Economics in KatowiceThe conditional element of the price included in the performance-bonus contract is a frequent component of contracts concluded with customers in some sectors. It is a deferred component of the price, which may never (in whole or in part) become a consideration due. Due to lack of unambiguous provisions in this respect in Polish domestic law and the entry into force of IFRS 15, the author raises the issue of accounting for such defined revenues. The aim is to analyze the provisions of IFRS 15 in the scope of a delivery contract with a performance bonus against the background of the provisions of the Polish Accounting Act. The verified thesis assumes that, although both regulations are consistent with the theoretical foundations of accounting, each of them differently recognizes the above-mentioned revenues. The goal was achieved by analyzing the regulations of IFRS 15, Polish Accounting norms and the presentation of a case study. The results confirmed a different recognition of revenues based on two analyzed legal regulations and indicated a large role of estimates in terms of revenue disclosures under IFRS 15.https://hss.prz.edu.pl/hss/article/view/186revenuesifrs 15performance-bonus contract |
| spellingShingle | Ewa MARUSZEWSKA PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT Humanities and Social Sciences revenues ifrs 15 performance-bonus contract |
| title | PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT |
| title_full | PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT |
| title_fullStr | PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT |
| title_full_unstemmed | PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT |
| title_short | PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT |
| title_sort | performance bonus contract in light of ifrs 15 and the polish accounting act |
| topic | revenues ifrs 15 performance-bonus contract |
| url | https://hss.prz.edu.pl/hss/article/view/186 |
| work_keys_str_mv | AT ewamaruszewska performancebonuscontractinlightofifrs15andthepolishaccountingact |