‘Old Hens Make the Best Soup’: Accounting for the Earning Process and the IASB/FASB Attempts to Reform Revenue Recognition Accounting Standards

Autor: Jonathan Glover, Bjorn N. Jorgensen, John M Lacey, Richard Macve, Eiko Tsujiyama, Yuri Biondi, Nicole Thorne Jenkins
Rok vydání: 2014
Předmět:
Zdroj: Accounting in Europe. 11:13-33
ISSN: 1744-9499
1744-9480
DOI: 10.1080/17449480.2014.903718
Popis: By developing a synthesis of documents that have been released officially under the revenue recognition project jointly run by the International Accounting Standards Board and Financial Accounting Standards Board, this article points out that the earning generation and realization process over time (that is to say, the traditional accounting model) is in reality still playing an important role without losing its raison d'etre. Although this model is supposed to have been consistently rejected since the outset on the premise of the adoption of the assets and liabilities approach amid the Boards' attempt to establish a new revenue recognition model, this article aims to reconfirm the significance and validity of this earning process – that is, the corporate process of generating and realizing earnings over time – as the representational focus of accounting for revenue recognition. Through an internal critique, our article summarizes and discusses successive Boards' proposals under the same asset–lia...
Databáze: OpenAIRE
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