Scientific paper ID 1802 : 2019/3

Emiliya Vaysilova

It is an indisputable fact that the global economy is booming and the scale of operations of transnational and multinational companies is increasing. There is an increase in overseas investment activity. This phenomenon necessitates the increasingly consistent reporting of companies, whether they prepare their financial statements on the basis of International Financial Reporting Standards (IFRS) or on the basis of Generally Accepted Accounting Principles (US GAAP).

At present, there are still significant differences between these two bases for the preparation of financial statements. This leads to a lot of inconsistencies and difficulties when comparing companies that prepare financial statements in accordance with different accounting frameworks. None of these financial reporting bases are considered to be tailored to the new reality. Due to this fact, steps are gradually being taken towards the harmonization of certain rules. After many years of joint work by the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), the first standard to fully integrate the accounting solutions of both accounting systems emerged (IFRS 15 Revenue from Contracts with Customers).

The purpose of present paper is to track the changes resulting from the new standard, on the basis of a comparative analysis with the repealed, existing revenue provisions and at the same time to present the key aspects of the new recognition of sales revenue.

транспортно предприятие приходи признаване и оценяване на приход договори с клиенти.transportation company revenue revenue recognition and valuation customer contracts.Emiliya Vaysilova


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[5] Prihodi ot dogovori s klienti. ...
( [5] Приходи от договори с клиенти. ... )

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