REVENUE DISCLOSURES IN FINANCIAL STATEMENTS IN ACCORDANCE WITH IFRS 15 „REVENUE FROM CONTRACTS WITH CUSTOMERS'
| Autor: | Nicolai JIERI, Simona-Maria TANASĂ (BRÎNZARU), Veronica GROSU, Svetlana MIHAILĂ |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: | |
| Zdroj: | USV Annals of Economics and Public Administration, Vol 21, Iss 34, Pp 165-171 (2021) |
| Druh dokumentu: | article |
| ISSN: | 2285-3332 2344-3847 |
| Popis: | Each economic entity is entitled and, at the same time, obliged to monitor its assets that are exposed to a series of flows, which directly contribute to the achievement of the primary objective - profit generation. Financial statements are the basic element that diagnoses the state of economic "health" of an entity, respectively that this assessment is correct, accurate and transparent - those responsible for preparing financial statements must comply with certain rules, instructions, policies, so that this report to generate maximum utility to users, such as shareholders, investors, society, state, etc. In the context of reporting entities in accordance with International Financial Reporting Standards, it is important to note that there is both a general standard for the preparation and presentation of financial statements and identifiable information on the minimum required to disclose specific areas depending on the nature of the economic element. IFRS 15 "Revenue from Contracts with Customers" is a relatively new standard and comes with radical provisions for some industries, in terms of revenue recognition-assessment and details on revenue disclosure in the integrated set of financial statements, both on the side of the Profit and Loss Statements, as well as in separate notes intended strictly for income. |
| Databáze: | Directory of Open Access Journals |
| Externí odkaz: |
|