Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step

Nicoleta Farcane (), Rodica Gabriela Blidisel (), Ovidiu Constantin Bunget () and Alin Dumitrescu ()
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Nicoleta Farcane: West University of Timi?oara, Romania
Rodica Gabriela Blidisel: West University of Timi?oara, Romania
Ovidiu Constantin Bunget: West University of Timi?oara, Romania
Alin Dumitrescu: West University of Timi?oara, Romania

The Audit Financiar journal, 2019, vol. 17, issue 154, 283

Abstract: 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.

Keywords: IFRS 15; income recognition; customer contracts (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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