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Effects And Implications Of The Implementation Of Ifrs 15 - Revenue From Contracts With Customers

Author

Listed:
  • Veronica, Grosu

    (Faculty of Economic Sciences and Public Administration, Stefan cel Mare University, Suceava, Romania)

  • Marian, Socoliuc

    (Faculty of Economic Sciences and Public Administration, Stefan cel Mare University, Suceava, Romania)

Abstract

The Standard IFRS 15 - Revenues from Contracts with Customers was developed by the IASB in order to replace some of the IAS and US GAAP standards still in force, as well as to introduce significant changes to the accounting of revenues. For most companies, the implementation of this standard will result in significant effects on accounting and reporting techniques, on the business processes and the IT systems, as it practically changes the reasoning used for revenue recognition. This paper is focused on the future implementation of the IFRS 15 and on its impact on the company's performance.

Suggested Citation

  • Veronica, Grosu & Marian, Socoliuc, 2016. "Effects And Implications Of The Implementation Of Ifrs 15 - Revenue From Contracts With Customers," Management Strategies Journal, Constantin Brancoveanu University, vol. 34(4), pages 95-106.
    • Handle: RePEc:brc:journl:v:34:y:2016:i:4:p:95-106
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    More about this item

    Keywords

    IFRS 15; revenue; recognition and measurement; IAS/IFRS;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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