期刊名称：Academy of Accounting and Financial Studies Journal
印刷版ISSN：1096-3685
出版年度：2018
卷号：22
期号：1
页码：1-12
语种：English
出版社：The DreamCatchers Group, LLC
摘要：In May 2014, the International Accounting Standards Board (IASB) issued the International Financial Reporting Standard 15 “Revenue from Contracts with Customers” hereafter, IFRS 15 providing firms with a five-step model that will apply to revenue earned from a contract with a customer. It was the result of a convergence project with Financial Accounting Standards Board (FASB) that started in 2002. IFRS 15 supersedes IAS 18 “Revenue” and IAS 11 “Construction Contracts” in order to introduce a new model for revenue recognition that is based on the transfer of control. It applies to revenue earned regardless of the type of revenue transaction or the industry (with limited exceptions). Although the effective date for the new standard is the beginning of a firm’s first fiscal year beginning after January 1, 2018, the new standard allows early adoption for periods beginning prior to the effective date without any conditions..
