EconPapers    
Economics at your fingertips  
 

Revenue from Contracts with Customers under IFRS 15: New Perspectives on Practice

Ionica Oncioiu () and Julija Avakumovic ()
Additional contact information
Ionica Oncioiu: Titu Maiorescu University
Julija Avakumovic: Titu Maiorescu University

EuroEconomica, 2016, issue 2(35), 31-40

Abstract: This article offer an overview of the characteristics of IFRS 15 requirements regarding revenue. Revenue is the gross inflow of economic benefits during the period arising in the course of the ordinary activities of an entity when those inflows result in increases in equity, other than increases relating to contributions from equity participants. This new standard intends to cover the gaps from the previous standards such as IAS 18 and IAS 11. IAS 18 provided limited guidance on many important revenue topics such as accounting for multiple-element arrangements. Fair value measurement and impairment methodology based on the incurred loss model are discussed in this context. This new standard offers detailed guidelines for different type of transactions such as sale with a right of return, like non-refundable upfront fees (and some related costs), principal versus agent considerations and consignment arrangements, others. Based on the results of this analysis, will show these views suggest practitioners ‘confusion about IFRS 15.

Keywords: gross inflow of economic benefits; fair value measurement; accounting estimates (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/3636/3687 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:dug:journl:y:2016:i:2:p:31-40

Access Statistics for this article

More articles in EuroEconomica from Danubius University of Galati Contact information at EDIRC.
Bibliographic data for series maintained by Florian Nuta ().

 
Page updated 2025-03-19
Handle: RePEc:dug:journl:y:2016:i:2:p:31-40