IMPLEMENTATION OF TFRS 15 “REVENUE FROM CONTRACTS WITH CUSTOMERS: A CASE STUDY ON CONSTRUCTION CONTRACTS
Journal Title: Muhasebe ve Vergi Uygulamaları Dergisi - Year 2019, Vol 12, Issue 1
Abstract
Public Oversight Accounting and Auditing Standarts Authority (KGK) has issued a new Standard on revenue recognition – TFRS 15 “Revenue from Contracts with Customers”. Companies are required to apply TFRS 15 to their annual reporting periods beginning on or after 1 January 2018. TFRS 15 brings a different perspective to revenue concept than current practices regarding amount of revenue to be recognize and accounting treatment. The standard involves a five-step model and two new approaches as recognition of revenue at a point in time or over time. The aim of this study is to examine these two approaches by way of case study on construction contracts.
Authors and Affiliations
Metin SABAN, Serhan GÜRKAN, Hakan VARGÜN
Keywords
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- EP ID EP414607
- DOI 10.29067/muvu.340990
- Views 113
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