Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step
As users` needs become larger, entities need to adapt their provided information. Thus, financial reporting suffers permanent changes. One of the recent changes that occurred at entities that report in line with the International Financial Reporting Standards, applicable from 2018, highlights the IF...
| Format: | Article |
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| Language: | English |
| Published: |
Chamber of Financial Auditors of Romania
2019-05-01
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| Series: | Audit Financiar |
| Subjects: | |
| Online Access: |
http://revista.cafr.ro/temp/Article_9611.pdf
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| _version_ | 1818588210227314688 |
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| collection | DOAJ |
| description | As users` needs become larger, entities need to adapt their provided information. Thus, financial reporting suffers permanent changes. One of the recent changes that occurred at entities that report in line with the International Financial Reporting Standards, applicable from 2018, highlights the IFRS 15 revenue recognition approach, which amends IAS 18 and is based rather on a related approach transfer of control than on the commonly used risk transfer and benefit approach.
The areas that best reflect these changes are telecommunications, software development, real estate investment and construction.
In this paper it is emphasized the impact of the new IFRS 15 standard on income recognition, highlighting various illustrative examples. |
| first_indexed | 2024-12-16T09:21:08Z |
| format | Article |
| id | doaj.art-84c08ba274084db6b18253a39e407a6d |
| institution | Directory Open Access Journal |
| issn | 1844-8801 |
| language | English |
| last_indexed | 2024-12-16T09:21:08Z |
| publishDate | 2019-05-01 |
| publisher | Chamber of Financial Auditors of Romania |
| record_format | Article |
| series | Audit Financiar |
| spelling | doaj.art-84c08ba274084db6b18253a39e407a6d2022-12-21T22:36:47ZengChamber of Financial Auditors of RomaniaAudit Financiar1844-88012019-05-011715428329710.20869/AUDITF/2019/154/2839611Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by StepAs users` needs become larger, entities need to adapt their provided information. Thus, financial reporting suffers permanent changes. One of the recent changes that occurred at entities that report in line with the International Financial Reporting Standards, applicable from 2018, highlights the IFRS 15 revenue recognition approach, which amends IAS 18 and is based rather on a related approach transfer of control than on the commonly used risk transfer and benefit approach. The areas that best reflect these changes are telecommunications, software development, real estate investment and construction. In this paper it is emphasized the impact of the new IFRS 15 standard on income recognition, highlighting various illustrative examples. http://revista.cafr.ro/temp/Article_9611.pdf ifrs 15income recognitioncustomer contracts |
| spellingShingle | Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step Audit Financiar ifrs 15 income recognition customer contracts |
| title | Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step |
| title_full | Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step |
| title_fullStr | Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step |
| title_full_unstemmed | Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step |
| title_short | Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step |
| title_sort | perceptions regarding the impact of ifrs 15 illustrative examples step by step |
| topic | ifrs 15 income recognition customer contracts |
| url |
http://revista.cafr.ro/temp/Article_9611.pdf
|