THE ACCRUAL PRINCIPLE IN LIGHT OF THE INNOVATIONS CONTAINED IN THE NEW IFRS’s Cover Image

THE ACCRUAL PRINCIPLE IN LIGHT OF THE INNOVATIONS CONTAINED IN THE NEW IFRS’s
THE ACCRUAL PRINCIPLE IN LIGHT OF THE INNOVATIONS CONTAINED IN THE NEW IFRS’s

Author(s): Gianfranco Capodaglio, Vanina Dangarska
Subject(s): Economy, Supranational / Global Economy, Financial Markets, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: accounting practice; financial statements;
Summary/Abstract: In 2018 we have witnessed two events that can profoundly mark the accounting practice of the persons who prepare the financial statements according to the IAS/IFRS: the European endorsement and the entry into force of IFRS 15, concerning the revenues from contracts with customers, and the newConceptual Framework for Financial Reporting, which replaces the previous Framework for the Preparation and Presentation of Financial Statements. There are many innovations contained in the two documents, but here we want to highlight some aspects concerning one of the principles underlying the financial statements that has always represented and represents a fundamental rule: the accrual basis.

  • Page Range: 123-128
  • Page Count: 6
  • Publication Year: 2020
  • Language: English
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