EFFECTS AND IMPLICATIONS OF THE IMPLEMENTATION OF IFRS 15 - REVENUE FROM CONTRACTS WITH CUSTOMERS

Grosu Veronica () and Socoliuc Marian ()
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Grosu Veronica: Faculty of Economic Sciences and Public Administration, Stefan cel Mare University, Suceava, Romania
Socoliuc Marian: Faculty of Economic Sciences and Public Administration, Stefan cel Mare University, Suceava, Romania

Management Strategies Journal, 2016, vol. 34, issue 4, 95-106

Abstract: The Standard IFRS 15 - Revenues from Contracts with Customers was developed by the IASB in order to replace some of the IAS and US GAAP standards still in force, as well as to introduce significant changes to the accounting of revenues. For most companies, the implementation of this standard will result in significant effects on accounting and reporting techniques, on the business processes and the IT systems, as it practically changes the reasoning used for revenue recognition. This paper is focused on the future implementation of the IFRS 15 and on its impact on the company's performance.

Keywords: IFRS 15; revenue; recognition and measurement; IAS/IFRS (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:34:y:2016:i:4:p:95-106

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