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Revenue from Contracts with Costumers
[Výnosy ze smluv se zákazníky]

Author

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  • Dana Dvořáková

Abstract

The target of this article is the comparison of accounting approaches to recognition, measurement, presentation and disclosure of revenues from contracts with costumers. Primarily, the approach of the new standard IFRS 15 Revenue from Contracts with Costumers is compared to standards which regulated this area before the adoption of this standard - namely IAS 18 Revenues and IAS 11 Construction Contracts. The significant benefit of IFRS 15 is the requirement for decomposition of transaction price on particular performance obligations, which are derived from the contract and the recognition of the revenue when a performance obligation is satisfied. The contribution of IFRS 15 is also the restriction on the use of the percentage of completion method (respectively input method).

Suggested Citation

  • Dana Dvořáková, 2015. "Revenue from Contracts with Costumers [Výnosy ze smluv se zákazníky]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2015(3), pages 80-96.
    • Handle: RePEc:prg:jnlcfu:v:2015:y:2015:i:3:id:451:p:80-96
    DOI: 10.18267/j.cfuc.451
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    References listed on IDEAS

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    1. David Procházka, 2011. "Proposals of a New Standard for Revenue Recognition: Open Issues [Otevřené otázky novelizace účetních standardů pro vykazování výnosů]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2011(4), pages 43-51.
    2. David Procházka, 2014. "The Failure of Decision Usefulness Approach on an Example of the New Standard for Revenue Recognition [Selhání užitečnostního přístupu k formulaci účetních pravidel na příkladu nového standardu pro," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(3), pages 7-19.
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    More about this item

    Keywords

    Costumer; Revenue; Measurement; Contract; International Financial Reporting Standards; Zákazník; Výnos; Oceňování; Smlouva; Mezinárodní standardy účetního výkaznictví;
    All these keywords.

    JEL classification:

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

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