REVENUE DISCLOSURES IN FINANCIAL STATEMENTS IN ACCORDANCE WITH IFRS 15 „REVENUE FROM CONTRACTS WITH CUSTOMERSâ€

Nicolai Jieri (), Simona-Maria TANASÄ‚ (brãžnzaru) (), Veronica Grosu () and Svetlana Mihailä‚ ()
Additional contact information
Nicolai Jieri: "Åžtefan cel Mare" University of Suceava, Romania
Simona-Maria TANASÄ‚ (brãžnzaru): "Åžtefan cel Mare" University of Suceava, Romania
Veronica Grosu: "Åžtefan cel Mare" University of Suceava, Romania
Svetlana Mihailä‚: Academy of Economic Studies of Moldova, Republic of Moldova

The USV Annals of Economics and Public Administration, 2021, vol. 21, issue 2(34), 165-171

Abstract: Each economic entity is entitled and, at the same time, obliged to monitor its assets that are exposed to a series of flows, which directly contribute to the achievement of the primary objective - profit generation. Financial statements are the basic element that diagnoses the state of economic "health" of an entity, respectively that this assessment is correct, accurate and transparent - those responsible for preparing financial statements must comply with certain rules, instructions, policies, so that this report to generate maximum utility to users, such as shareholders, investors, society, state, etc. In the context of reporting entities in accordance with International Financial Reporting Standards, it is important to note that there is both a general standard for the preparation and presentation of financial statements and identifiable information on the minimum required to disclose specific areas depending on the nature of the economic element. IFRS 15 "Revenue from Contracts with Customers" is a relatively new standard and comes with radical provisions for some industries, in terms of revenue recognition-assessment and details on revenue disclosure in the integrated set of financial statements, both on the side of the Profit and Loss Statements, as well as in separate notes intended strictly for income.

Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.annals.seap.usv.ro/index.php/annals/article/view/1316/1084 (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:scm:usvaep:v:21:y:2021:i:2(34):p:165-171

Access Statistics for this article

The USV Annals of Economics and Public Administration is currently edited by Editura Universitatii Stefan cel Mare din Suceava

More articles in The USV Annals of Economics and Public Administration from Stefan cel Mare University of Suceava, Romania, Faculty of Economics and Public Administration Contact information at EDIRC.
Bibliographic data for series maintained by Liviu Scutariu ().