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The effects of real estate business on revenue accounting in Vietnam’s real estate enterprises

Author

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  • Nguyen Ngoc Hien

    (Electric Power University, Hanoi, Vietnam)

Abstract

International Financial Reporting Standards (IFRS) 15, which was issued and has taken effect since 2018, replaced IAS 18 - Revenue, International Accounting Standards (IAS) 11 -Construction Contract. On March 16, 2020, the Ministry of Finance (2017) issued Decision 345/QD-BTC approving the project to apply IFRS in Vietnam. The roadmap for applying IFRS to 2025, which will be extended to businesses in order to ensure provision complete, clear, and transparent information about the financial position of the business. The application of IFRS 15 will affect the recognition of revenue in enterprises, especially in the real estate business because their characteristics are different from normal businesses. Due to the importance of applying IFRS 15 and the specifics of the real estate business, the author has studied the influence of the characteristics of the real estate industry on revenue accounting in real estate enterprises.

Suggested Citation

  • Nguyen Ngoc Hien, 2024. "The effects of real estate business on revenue accounting in Vietnam’s real estate enterprises," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 14(1), pages 76-83.
    • Handle: RePEc:bjw:econen:v:14:y:2024:i:1:p:76-83
    DOI: 10.46223/HCMCOUJS.econ.en.14.1.2556.2023
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    More about this item

    Keywords

    IFRS 15; real estate; revenue;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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