Scientific paper ID 2597 : 2024/3

There are many similarities in the preparation of financial statements in different countries, but also many differences. There is a need to harmonize the content and presentation of financial statements worldwide in relation to the differences. For this purpose, the International Financial Reporting Standards are created and they ensure compatibility between national and international standards. International financial reporting standards contain general accounting rules that relate to the initial measurement and initial recognition of assets and liabilities, income and expenses, subsequent measurement, write-off, presentation and disclosure in financial statements and others.

The purpose of this report is to make a comparative analysis of the main statements and concepts of International Financial Reporting Standard 15 (IFRS 15) - Revenue from contracts with customers and the repealed International Accounting Standard 18 (IAS 18) - Revenue and the (Bulgarian) National Accounting Standard 18 - Revenue.