Tryb rozpoznawania przychodów z umów o budowę zgodnie z MSSF 15 „Przychody z umów z klientami”
Recognition of Revenue from Construction Contracts as per IFRS 15 “Revenue from Contracts with Customers”

Summary/Abstract: Objective: To conduct an analysis of the methodology used to recognise revenue from construction contracts as per IFRS 15 “Revenue from contracts with customers.” An auxiliary goal is to compare and contrast IFRS 15 and the superseded IAS 11 “Construction contracts”. Research Design & Methods: A critical analysis of Polish and foreign professional literature and International Financial Reporting Standards. The article also draws on the author’s personal experience with implementing IFRS 15. Findings: IFRS 15 provides a five-step revenue recognition model which introduces two new important elements: 1) in the case of multiple deliverables – the obligation to split the contract into separate performance obligations, 2) the obligation to determine if transfer of control over the goods provided or services rendered takes place at a specific point in time or over a period of time. Implications / Recommendations: Implementation of IFRS 15 requires coordination of financial management with operating activities as well as a focus on forecasting and budgeting supported by IT systems which are tailored to the needs of construction project management. Contribution: IFRS 15 is a standard indicating the prospective orientation of financial accounting. It emphasises the key role of forecasts and budgets in the preparation of financial statements. It also integrates financial and management accounting.

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