Český finanční a účetní časopis 2015(3):80-96 | DOI: 10.18267/j.cfuc.451

Revenue from Contracts with Costumers

Dana Dvořáková
Doc. Ing. Dana Dvořáková, Ph.D. - docentka; Katedra finančního účetnictví a auditingu, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3; <ddvorak@vse.cz>.

The target of this article is the comparison of accounting approaches to recognition, measurement, presentation and disclosure of revenues from contracts with costumers. Primarily, the approach of the new standard IFRS 15 Revenue from Contracts with Costumers is compared to standards which regulated this area before the adoption of this standard - namely IAS 18 Revenues and IAS 11 Construction Contracts. The significant benefit of IFRS 15 is the requirement for decomposition of transaction price on particular performance obligations, which are derived from the contract and the recognition of the revenue when a performance obligation is satisfied. The contribution of IFRS 15 is also the restriction on the use of the percentage of completion method (respectively input method).

Keywords: Costumer; Revenue; Measurement; Contract; International Financial Reporting Standards.
JEL classification: M41

Published: October 1, 2015  Show citation

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Dvořáková, D. (2015). Revenue from Contracts with Costumers. Czech Financial and Accounting Journal, 2015(3), 80-96. doi: 10.18267/j.cfuc.451
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