ScholarLens Back to search
2012•Unpublished venueRequires access

RECONOCIMIENTO DE INGRESOS Y OBLIGACIONES DE PRESTACIÓN ONEROSAS REVENUE RECOGNITION AND ONEROUS PERFORMANCE OBLIGATIONS

Catalina Piña Garau

Open publisher page 0 citations

Abstract

Revenue is a key number to users of financial information in assessing an entity’s financial performance and position. Nevertheless, revenue recognition requirements in US GAAP diverge from those in IFRSs and both need updating. US GAAP include detailed revenue recognition concepts and a guidance for particular industries and transactions that can generate a different accounting for economically similar transactions. IFRSs are less detailed, however, the two main revenue recognition standards, IAS 18 “Revenue” and IAS 11 “Construction Contracts”, are not easy to understand and implement. Moreover, IAS 18 does not provide a detailed guidance on significant questions such as revenue recognition for multi-element contracts. This paper studies the pros and cons of the accounting model for revenue recognition and onerous performance obligations published by the FASB and the IASB in their revised exposure draft on “Revenue from Contracts with Customers” (November 2011).

About this research paper

What this paper is about

Revenue is a key number to users of financial information in assessing an entity’s financial performance and position. Nevertheless, revenue recognition requirements in US GAAP diverge from those in IFRSs and both need updating. US GAAP include detailed revenue recognition concepts and a guidance for particular industries and transactions that can generate a different accounting for economically similar transactions. IFRSs are less detailed, however, the two main revenue recognition standards, IAS 18 “Revenue” and IAS 11 “Construction Contracts”, are not easy to understand and implement. Moreover, IAS 18 does not provide a detailed guidance on significant questions such as revenue recognition for multi-element contracts. This paper studies the pros and cons of the accounting model for revenue recognition and onerous performance obligations published by the FASB and the IASB in their revised exposure draft on “Revenue from Contracts with Customers” (November 2011).

Why it matters

A significance statement is not available in the OpenAlex record.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

Revenue is a key number to users of financial information in assessing an entity’s financial performance and position. Nevertheless, revenue recognition requirements in US GAAP diverge from those in IFRSs and both need updating. US GAAP include detailed revenue recognition concepts and a guidance for particular industries and transactions that can generate a different accounting for economically similar transactions. IFRSs are less detailed, however, the two main revenue recognition standards, IAS 18 “Revenue” and IAS 11 “Construction Contracts”, are not easy to understand and implement. Moreover, IAS 18 does not provide a detailed guidance on significant questions such as revenue recognition for multi-element contracts. This paper studies the pros and cons of the accounting model for revenue recognition and onerous performance obligations published by the FASB and the IASB in their revised exposure draft on “Revenue from Contracts with Customers” (November 2011).

Key concepts: Revenue recognition, Revenue, Revenue model, Business, Accounting, Revenue assurance, Position (finance), Key (lock)

Back to paper searchBrowse research topicsOriginal source
RECONOCIMIENTO DE INGRESOS Y OBLIGACIONES DE PRESTACIÓN ONEROSAS REVENUE RECOGNITION AND ONEROUS PERFORMANCE OBLIGATIONS — Research Paper | ScholarLens