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Possible Impacts of Application of the New Accounting Standard IFRS 15 Revenue from Contract s with Customers: A Case Study

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F18%3A76512" target="_blank" >RIV/60460709:41110/18:76512 - isvavai.cz</a>

  • Result on the web

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Possible Impacts of Application of the New Accounting Standard IFRS 15 Revenue from Contract s with Customers: A Case Study

  • Original language description

    The new accounting standard IFRS 15, issued in 2014 and effective from 2018, brings a consistent guidance of revenue recognition and reporting. The aim of the paper is to point out the possible implications of the application of the new International Financial Reporting Standard 15 to the entities accounting and to demonstrate on case study examples the possible accounting treatment. The case study is based on the practice of a prominent joint stock company operating in the Czech Republic, where existing customer contracts were analysed and areas with need of modification were identified. The results proved that the application of IFRS 15 brings changes into the current practice as to the amount and the time of the revenue recognition in the chosen company, where the most significant changes are related to the allocation of a transaction price, to the sales with the right of return and licences with the right to use. IFRS 15 provides a more systematic view of revenue recognition, and addition

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • OECD FORD branch

    50205 - Accounting

Result continuities

  • Project

  • Continuities

    S - Specificky vyzkum na vysokych skolach

Others

  • Publication year

    2018

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    The International Scientific Conference INPROFORUM 2017

  • ISBN

    978-80-7394-667-8

  • ISSN

  • e-ISSN

  • Number of pages

    6

  • Pages from-to

    196-201

  • Publisher name

    University of South Bohemia in České Budějovice

  • Place of publication

    České Budějovice

  • Event location

    University of South Bohemia in České Budějovice

  • Event date

    Nov 9, 2017

  • Type of event by nationality

    WRD - Celosvětová akce

  • UT code for WoS article