IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxvy2015i1p852-857.html
   My bibliography  Save this article

The Accounting for Revenues and Impact of Fair Value

Author

Listed:
  • Nicolae Traian Cristin

    (Department of Finance and Accounting , Faculty of Economic Sciences, University “Ovidius”, Constantza, Romania)

Abstract

On 28 May 2014, the IASB (International Accounting Standards Board) and FASB (the US accounting regulatory body) have jointly issued a new standard contains requirements for recognizing revenue from contracts with customers. IFRS 15 "Revenue from contracts with customers" will apply to financial years beginning 1 January 2017. Earlier application is permitted for entities applying IFRS (International Financial Reporting Standards). Global financial developments have increased the interest of economic actors on accounting. This paper investigates the impact of applying IFRS 15 and the fair value measurement. Fair value accounting is appropriate when available reliable estimates of fair value. Compared with historical cost accounting, revenue recognition may be accelerated or postponed sales consisting of several transactions. Key financial indicators, turnover, financial result, rates of return are influenced by the application of IFRS 15, this standard impacts the annual financial statements.

Suggested Citation

  • Nicolae Traian Cristin, 2015. "The Accounting for Revenues and Impact of Fair Value," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 852-857, May.
    • Handle: RePEc:ovi:oviste:v:xv:y:2015:i:1:p:852-857
    as

    Download full text from publisher

    File URL: http://stec.univ-ovidius.ro/html/anale/RO/2015/ANALE%20vol%2015_issue_1_pt%20site.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    revenue; customer contracts; fair value.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xv:y:2015:i:1:p:852-857. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.