Is the asset-liability approach a significant change to revenue recognition?
Is the asset-liability approach a significant change to revenue recognition?

Author(s): Hana Bohušová, Patrik Svoboda
Subject(s): Business Economy / Management, Accounting - Business Administration
Published by: Masarykova univerzita nakladatelství
Keywords: revenues; asset-liability approach; contracts with customers;
Summary/Abstract: In November 2011, the exposure draft of a new common standard regarding the revenue recognition from contracts with customers was published. The main objective is to unify the principles for revenue recognition and the possibility of its consistent application across sectors. This paper is focused on the identification of areas where we can assume that there will be the most significant differences in reported revenue compared to the current treatment.

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