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Cofin Habana
On-line version ISSN 2073-6061
Abstract
CARVAJAL- LUISA SALGADO, Ana. Theoretical Review of the Five Steps of IFRS 15: New Revenue Recognition Model. Cofin [online]. 2021, vol.15, n.2, e22. Epub July 29, 2021. ISSN 2073-6061.
Revenue is the most important and critical item when analyzing the administrative management and financial position of a company. The main accounting standard for revenue is IFRS 15, which came into force in 2018 to leave behind IAS 18. The objective of this paper is to analyze the five steps for the recognition of revenue from ordinary activities from contracts with customers through a theoretical interpretation of IFRS 15. The documentary method was used to determine whether the new standard can generate modifications in the recognition of revenue and significant changes in the accounting processes applied by companies.
Keywords : customers; contracts; obligations..