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Recognition of Revenues. IAS 18 ”Revenue” versus OMFP 3055/2009 Regarding the Approval of Accounting Regulations in Compliance with European Directives

Author

Listed:
  • Luþã Dorina

    (”Constantin Brâncoveanu” University of Piteºti)

  • Grigorescu Sorin

    (”Constantin Brâncoveanu” University of Piteºti)

  • Popa Ionela

    (”Constantin Brâncoveanu” University of Piteºti)

Abstract

Enterprise financial performance is measured by the difference between revenues and the expenses incurred to achieve the revenues. Revenue recognition and evaluation take place according to applicable accounting regulations. The present paper envisages the way to recognize revenues in compliance with IAS 18 ”Revenue” and OMFP 3055/2009 regarding the approval of accounting regulations compliant with European Directives.

Suggested Citation

  • Luþã Dorina & Grigorescu Sorin & Popa Ionela, 2012. "Recognition of Revenues. IAS 18 ”Revenue” versus OMFP 3055/2009 Regarding the Approval of Accounting Regulations in Compliance with European Directives," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1208-1212, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1208-1212
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    More about this item

    Keywords

    revenues; recognition; IFRS; accounting policies;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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