Český finanční a účetní časopis 2011(4):43-51 | DOI: 10.18267/j.cfuc.146

Proposals of a New Standard for Revenue Recognition: Open Issues

David Procházka
Ing. David Procházka, Ph.D. - odborný asistent; Katedra finančního účetnictví a auditingu, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze; <prochazd@vse.cz>.

The paper reacts to the present development in the field of revenue recognition under IFRS and US GAAP. IASB and FASB published an Exposure Draft Revenue from Contracts with Customers under joint Revenue Recognition Project. The Draft introduces a new guidance on revenue recognition, which may significantly alter current accounting practice. The paper focuses on the project's background, main newly proposed principles for revenue recognition and their possible advantages and disadvantages.

Keywords: Revenue; Revenue Recognition Project; IFRS; US GAAP.
JEL classification: M41

Published: December 1, 2011  Show citation

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Procházka, D. (2011). Proposals of a New Standard for Revenue Recognition: Open Issues. Czech Financial and Accounting Journal, 2011(4), 43-51. doi: 10.18267/j.cfuc.146
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    References

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