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Do Czech Companies Disclose Revenue in Accordance with IFRS Requirements?

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  • Kateřina Knorová

Abstract

Revenue is one of the key indicators informing users of financial statements about company's performance. The different approaches to revenue recognition are analysed in the first part of this paper. The second part addresses the convergence of US GAAP and IFRS in the area of revenue recognition and examines the new converged revenue standard IFRS 15. The third part focuses on the IFRS disclosure requirements set by the current standard IAS 18 and compare to the new ones defined by IFRS 15. The empirical study analyses consolidated financial statements of Czech listed companies and assesses the compliance with current revenue disclosure IFRS requirements.

Suggested Citation

  • Kateřina Knorová, 2016. "Do Czech Companies Disclose Revenue in Accordance with IFRS Requirements?," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2016(3), pages 69-84.
    • Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:3:id:163:p:69-84
    DOI: 10.18267/j.efaj.163
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    References listed on IDEAS

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    1. Richard Barker, 2010. "On the Definitions of Income, Expenses and Profit in IFRS," Accounting in Europe, Taylor & Francis Journals, vol. 7(2), pages 147-158, December.
    2. Alfred Wagenhofer, 2014. "The role of revenue recognition in performance reporting," Accounting and Business Research, Taylor & Francis Journals, vol. 44(4), pages 349-379, August.
    3. Anne B. Fosbre & Ellen M. Kraft & Paul B. Fosbre, 2009. "The Globalization Of Accounting Standards : Ifrs Versus Us Gaap," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 3(1), pages 61-71.
    4. Christopher Nobes, 2012. "On the Definitions of Income and Revenue in IFRS," Accounting in Europe, Taylor & Francis Journals, vol. 9(1), pages 85-94, June.
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    More about this item

    Keywords

    IAS 18; IFRS 15; Revenue disclosure; Revenue recognition;
    All these keywords.

    JEL classification:

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

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