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

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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

Název v anglickém jazyce

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

Popis výsledku anglicky

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

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50205 - Accounting

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2018

Kód důvěrnosti údajů

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

Název statě ve sborníku

The International Scientific Conference INPROFORUM 2017

ISBN

978-80-7394-667-8

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

196-201

Název nakladatele

University of South Bohemia in České Budějovice

Místo vydání

České Budějovice

Místo konání akce

University of South Bohemia in České Budějovice

Datum konání akce

9. 11. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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