Preliminary Views On Revenue Recognition In Contracts With Customers
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Preliminary Views On Revenue Recognition In Contracts With Customers
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Author : International Accounting Standards Board
language : en
Publisher:
Release Date : 2008
Preliminary Views On Revenue Recognition In Contracts With Customers written by International Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Contracts categories.
And invitation to comment -- Revenue recognition based on changes in assets and liabilities -- A contract-based revenue recognition principle -- Performance obligations -- Satisfaction of performance obligations -- Measurement of performance obligations -- Potential effects on present practice.
Preliminary Views On Revenue Recognition In Contracts With Customers
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Author :
language : en
Publisher:
Release Date : 2008
Preliminary Views On Revenue Recognition In Contracts With Customers written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Das Discussion Paper Preliminary Views On Revenue Recognition In Contracts With Customers
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Author : Mike Tucesku
language : de
Publisher: GRIN Verlag
Release Date : 2010-04-12
Das Discussion Paper Preliminary Views On Revenue Recognition In Contracts With Customers written by Mike Tucesku and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-12 with Business & Economics categories.
Bachelorarbeit aus dem Jahr 2010 im Fachbereich BWL - Sonstiges, Hochschule für Wirtschaft und Recht Berlin, Sprache: Deutsch, Abstract: Eine Hauptaufgabe des International Accounting Standards Board (IASB) ist es, eine weltweite Konvergenz mit den länderspezifischen Rechnungslegungssystemen zu erreichen. Mit der Unterzeichnung des sog. Norwalk-Abkommens im September 2002 wurde eine enge Zusammenarbeit zwischen dem IASB und dem Financial Accounting Standards Board (FASB) vereinbart. Ziel war die Abschaffung der bisherigen Unterschiede zwischen den International Financial Reporting Standards (IFRS) und den United States Generally Accepted Accounting Principles (US-GAAP) bis zum Jahr 2005. Ebenfalls im Jahr 2002 wurde das Konvergenzprojekt „Revenue Recognition“ des IASB und FASB ins Leben gerufen. Die bisherigen Regelungen zur Ertragsvereinnahmung (revenue recognition) sind in den Stan-dards IAS 11 (Construction Contracts) und IAS 18 (Revenue) verankert. Diese wurden vom IASB und FASB im Rahmen des „Revenue Recognition Projects“ überprüft und überarbeitet. Es wurden Inkonsistenzen zwischen dem IAS 18 und dem Rahmenkonzept (framework) sowie bei der Anwendung der beiden Standards identifiziert. Ebenso mangelt es in den IFRS an Vorschriften zur bilanziellen Behandlung von Mehrkomponentengeschäften (multiple element arrangements). Zwar wird durch die Vorschriften in den IFRS auf die US-GAAP ausgewichen, allerdings sind die über 200 branchen- und fallspezifischen Regelungen weniger prinzipienbasiert. Durch diese Inkonsistenzen existieren beim Bilanzierenden teilweise große Ermessensspielräume. Dadurch bekommen Unternehmen eine einfache Möglichkeit, die Ertragsvereinnahmung bewusst oder durch Unvermögen zu manipulieren. Dabei nehmen Erträge insbesondere für externe Bilanzadressaten wie Investoren oder Gläubiger eine wichtige Rolle ein.
Die Bilanzierung Von Mehrkomponentengesch Ften Nach Geltenden Ifrs Sowie Dem Exposure Draft 2010 6 Revenue Recognition In Contracts With Customers
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Author : Gerald Sauer
language : de
Publisher:
Release Date : 2012
Die Bilanzierung Von Mehrkomponentengesch Ften Nach Geltenden Ifrs Sowie Dem Exposure Draft 2010 6 Revenue Recognition In Contracts With Customers written by Gerald Sauer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Auf Grund jüngerer Entwicklungen im Wirtschaftsleben kommt es immer öfter zum Auftreten sogenannter Mehrkomponentengeschäfte. Da weder deren Definition noch deren Behandlung in den bestehenden IAS/IFRS konkrete Regelung erfahren, werden diese nach den üblichen Bedingungen des IAS 11 und IAS 18 bilanziert. Dieser Rege-lungsmangel führt zwangsläufig zu einem erheblichen Ermessensspielraum beim Ansatz der betroffenen Umsatzerlöse durch die bilanzierenden Unternehmen und damit auch einer eingeschränkten Vergleichbarkeit der Jahresabschlüsse. Das Konvergenzprojekt ED 2010/6, das gemeinsam von FASB und IASB während einer achtjährigen Bearbeitungszeit entstanden ist, sollte diesem Regelungsmangel Rechnung tragen. Gegenstand dieses Projekts waren die Erfassung von Umsatzerlösen auf Grund von Kundenverträgen. Es sollten global anwendbare, prinzipienbasierte und vereinheitlichte Bilanzierungsregelungen geschaffen werden. Diese sollten Regelungslücken innerhalb der IFRS schließen und die mangelnde Vergleichbarkeit der nach US-GAAP aufgestellten Abschlüsse beseitigen. Der ED 2010/6 basiert grundsätzlich auf dem Asset/Liability - Approach. Trotz der zunächst postiven Reaktionen zum Discussion Paper Preliminary Views on Revenue Recognition Contracts with Customers im Jahre 2008 erfuhr der anschließend im Jahre 2010 präsentierte ED 2010/6 herbe Kritik, die sich vor allem auf seine zu detaillierten Regelungen, hohen Dokumentationsanforderungen und eine praktische Aufgabe des PoC-Verfahrens im Rahmen von Fertigungsaufträgen bezog. Auf Grunde dieser heftigen Kritik kam es im Zuge einer Re-Exposure zur Veröf-fentlichung eines neuen Drafts ED 2011/6, der einigen der Schwachpunkte des ED 2010/6 Rechnung trug. *****On account of new developments in economic activities so called multiple element ar-rangements have become more and more frequent. As existing IAS/IFRS rules regulate neither their definition nor their financial treatment, reporting practice follows the general provisions of IAS 11 and IAS 18. A lack of specific regulations, however inevi-tably allows companies a wide discretion concerning the reporting of these revenues, which limits the comparability of annual accounts. The convergence project ED 2010/6, which was developed by FASB and IASB working together for eight years, was designed to identify such shortcomings. The subject of this project was the recognition of revenues based on customer contracts in the balance sheet. The aim was to create globally useful, principle-based and standardized principles of proper accounting and, as a consequence, to close gaps in the regulations of IFRS and improve the comparability of financial statements prepared under the US-GAAP. ED 2010/6 is fundamentally based on the Asset/Liability-Approach. While initial reactions to the discussion paper called Priliminary Views on Revenue Recognition Contracts with Customers in 2008 were positive, the following ED 2010/6, which was presented in 2010, was heavily crit-icised, in particular due to its detailed regulations, high standards of documentation and the virtual abolition of the PoC-method for construction contracts. Due to this harsh criticism a new draft ED 2011/6 was published after a re-exposure, to address the weaknesses of ED 2010/6.
Das Discussion Paper Preliminary Views On Revenue Recognition In Contracts With Customers Der Richtige Weg F R Eine Einheitliche Umsatzrealisation
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Author :
language : de
Publisher:
Release Date : 2010
Das Discussion Paper Preliminary Views On Revenue Recognition In Contracts With Customers Der Richtige Weg F R Eine Einheitliche Umsatzrealisation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Welcoming The New Revenue Recognition Standard
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Author : C. A. Ambalika Singh
language : en
Publisher: Independently Published
Release Date : 2018-06-17
Welcoming The New Revenue Recognition Standard written by C. A. Ambalika Singh and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-17 with categories.
The New Revenue Recognition Standard is a joint bold move made by both the FASB and the IASB to give top-lines of companies, across industries, a common denominator. It is a ground-breaking shift from the fair value measure of vendor specific objective evidence ('VSOE') to measure revenue, to one which takes into account what consideration the entity really expects to be entitled to receive from the contract with a 'customer'. Collaborative arrangements would come under the scanner as the collaborator may not be acting as a 'customer'. Moreover, the terms 'client' and 'customer' would no longer be fungible.ASC 606 provides guidance that will apply to all entities, including non-public entities that previously did not have extensive guidance. IFRS differs in this respect as IFRS for Small and Medium-sized Entities is available for entities that do not have public accountability.The new standard broadens the definition of revenue to include newer concepts like costs to obtain and fulfil a contract, material rights and gain and loss from sale of non-financial assets. The revenue is recognised upon control transfer rather than on delivery/ transfer of risks and rewards and the standard introduces the concept of 'control transferred at a point in time' and 'control transferred over time'. The standard requires management to increase exercise of judgment and estimate variable consideration, after applying constraints. The hierarchy for estimating stand-alone selling prices has been done away with. Allocation of discounts and assessing collectability may undergo a change as the two would be analysed at the worm's eye view level of the performance obligation and not at the bird's eye view level of the contract. Early in 2017, we saw ASU 2017-01 and ASU 2017-05 narrowing the definition of 'business' and defining an 'In Substance Non financial asset', respectively. The new definition of business disqualifies a set as a business when all or substantially all of the fair value of the gross assets (acquired or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets- think early stage life sciences companies, real estate and shipping companies. Further the new definition of business requires an input and a substantive process that together significantly contribute to the ability to create output- all of which should be acquired and evaluation of whether a market participant is able to replace the missing elements has been done away with. Further cost savings would not qualify as an output, which would be aligned with outputs described in ASC 606. The overall assessment of a business however still continues to be done from a market participant's angle and the buyer's and seller's intentions do not affect the analysis- same as today, except that the requirement of assessing whether a market participant would be able to replace missing elements has been done away with. These two ASUs impact the new revenue recognition standard from the point of view of a sale of non-financial assets to a customer- where the interest in an entity does not fall under the new definition of business but within the definition of essentially a non-financial asset.The new revenue recognition standard affects more than just revenue and impacts the business processes and results in dual SOX testing during the transition phase. With sufficient training, discussion and planning, all managements will be able to do the 'heavy lifting'.
Die Geplanten Neuregelungen Zur Ertrags Und Umsatzrealisierung Nach Dem Discussion Paper Preliminary Views On Revenue Recognition In Contracts With Customers Im Vergleich Zur Konzeption Gem Ias 11 Und Ias 18
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Author : Philipp Lessner
language : de
Publisher:
Release Date : 2010
Die Geplanten Neuregelungen Zur Ertrags Und Umsatzrealisierung Nach Dem Discussion Paper Preliminary Views On Revenue Recognition In Contracts With Customers Im Vergleich Zur Konzeption Gem Ias 11 Und Ias 18 written by Philipp Lessner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Frs 102
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Author :
language : en
Publisher:
Release Date : 2015
Frs 102 written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Revenue From Contracts With Customers Topic 606
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Author : Financial Accounting Standards Board
language : en
Publisher:
Release Date : 2016
Revenue From Contracts With Customers Topic 606 written by Financial Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Accounting categories.
Intermediate Accounting Ifrs International Adaptation
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Author : DONALD E.. WEYGANDT KIESO (JERRY J.. WARFIELD, TERRY D.)
language : en
Publisher: John Wiley & Sons
Release Date : 2024-10-06
Intermediate Accounting Ifrs International Adaptation written by DONALD E.. WEYGANDT KIESO (JERRY J.. WARFIELD, TERRY D.) and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-10-06 with categories.