Analysis of Tourism Companies Listed in Istanbul Stock Exchange According to IFRS-15 Standart

A.Engin Ergüden
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A.Engin Ergüden: Department of Business Administration, University of Yeditepe, Istanbul

International Journal of Finance & Banking Studies, 2020, vol. 9, issue 1, 47-57

Abstract: Revenue is the most important accomplishment and size pointers for businesses. A new standard, which has more comprehensive and comparable feature to eliminate the deficiencies in the IFRS (International Financial Reporting Standart)-15 Revenue From Customer Contracts Standard published on 15.01.2019 and the old revenue (IAS-18 Revenue and IAS (Inernational Accounting Standarts) -11 Construction Contracts) standards to be applied in the accounting periods starting after 01.01.2018, has been introduced. The most important purpose of the standard is to eliminate the uncertainties and deficiencies in the old standards with a five-step model on important issues related to when and what amount of the revenue based on the contract with customers will be accounted. Innovation in revenue standard has an important place in measuring the financial performance of the company. Different regulations on when revenue will be recorded depending on which conditions are realized have affected the accuracy and comparability of the company financial statements in practice. With the renewed IFRS-15 standard, revenue will provide more detailed financial information to business decision makers in the future. According to IFRS-15 Revenue From Customer Contracts Standard, which is applied for the accurate reporting of revenues, comprehensive analysis of the financial table footnotes of the businesses in the tourism sector concerning, proffering of the records related to the revenue in the financial statements in the footnotes, the contracts placed with the customer of the enterprise, important evaluations in the application of the standard and the transaction costs incurred in the financial statements as an asset has been the scope of this study.

Keywords: IFRS-15; Revenue; Presentation; Explanation; Footnote (search for similar items in EconPapers)
Date: 2020
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