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Key Theoretical Aspects Of Applying Ifrs 15

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  • Cristina Gabriela COSMULESE

    (Stefan cel Mare University of Suceava, 720229, Romania)

Abstract

The permanent updating of obsolete standards by the International Accounting Standard Board (IASB) must be taken over by companies using the International Financial Reporting Standards (IFRS) which, at first, generates certain situations of misinterpretation of these financial accounting policies having a direct impact on the distortion of the reported information to the stakeholders. The purpose of this article is to identify the key elements of applying IFRS 15 based on the industry to which the entity operates. The findings highlight potential changes in timing of recognition, measurement (including allocation of revenue between goods and services provided) and disclosure.

Suggested Citation

  • Cristina Gabriela COSMULESE, 2021. "Key Theoretical Aspects Of Applying Ifrs 15," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 17(27), pages 87-94, October.
    • Handle: RePEc:scm:ejafbu:v:17:y:2021:i:27:p:87-94
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    References listed on IDEAS

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    1. Alexandra Fontes & Lúcia Lima Rodrigues & Russell Craig, 2016. "A theoretical model of stakeholder perceptions of a new financial reporting system," Accounting Forum, Taylor & Francis Journals, vol. 40(4), pages 300-315, December.
    2. Kalieva О.М. & Karelin N.V., 2019. "Marketing Management in Urban Passenger Transportation Innovations," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 2), pages 211-220.
    3. Nicoleta FARCANE & Rodica Gabriela BLIDISEL & Ovidiu Constantin BUNGET & Alin DUMITRESCU, 2019. "Perceptions Regarding the Impact of IFRS 15 - Illustrative Examples Step by Step," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 17(154), pages 283-283.
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    Cited by:

    1. Monica-Laura ZLATI & Cristina Gabriela COSMULESE, 2023. "Assessing the CFO'S Perspective on IFRS 15 Implementation," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 3, pages 148-156.

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