KEY THEORETICAL ASPECTS OF APPLYING IFRS 15

Cristina Gabriela Cosmulese ()
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Cristina Gabriela Cosmulese: Stefan cel Mare University of Suceava, 720229, Romania

European Journal of Accounting, Finance & Business, 2021, vol. 17, issue 27, 87-94

Abstract: The permanent updating of obsolete standards by the International Accounting Standard Board (IASB) must be taken over by companies using the International Financial Reporting Standards (IFRS) which, at first, generates certain situations of misinterpretation of these financial accounting policies having a direct impact on the distortion of the reported information to the stakeholders. The purpose of this article is to identify the key elements of applying IFRS 15 based on the industry to which the entity operates. The findings highlight potential changes in timing of recognition, measurement (including allocation of revenue between goods and services provided) and disclosure.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:17:y:2021:i:27:p:87-94

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