THE EFFECT OF APPLYING IFRS 15 ON THE INCOME STATEMENT: AN APPLY STUDY ON AL-KHAYATE AL- HADYTHA FIRM

an apply study on Al-Khayata Al-Hadytha firm

المؤلفون

  • Basheer Y. Ismail Duhok Polytechnic University
  • Najat W. Khalid University of Nawroz

DOI:

https://doi.org/10.26436/hjuoz.2024.12.1.1334

الكلمات المفتاحية:

Revenues recognition، IFRS 15، Performance obligation

الملخص

This research paper aims to explore the impact of IFRS 15 on the income statement, and describe the accounting process according to GAAP. To achieve research aims, the financial statements (2019 – 2022) of Al-Khayata Al-Hadytha as a joint firm in Iraqi securities exchange have been used as an apply study, and apply IFRS 15 on its statements, as well as the paper discusses the key principles of IFRS 15 and examines its effects on financial reporting, disclosure requirements, and the potential challenges faced by organizations during the implementation process.

The research finds out that the recognition of revenues according to IFRS 15 has positively affected on the accounting process of firms, and leads to enhance of financial reporting quality by using the principles of IFRS.

المراجع

Bernoully, M., & Sensi Wondabio, L. (2019). Impact of Implementation of IFRS 15 on the Financial Statements of Telecommunication Company (Case Study of PT XYZ). 89(Apbec 2018), 141–148. https://doi.org/10.2991/apbec-18.2019.19

Fangshu, Z. (2015). Review of U.S. GAAP and IFRS Convergence: Revenue Recognition Aspects. Research Journal of Management Sciences, 4(5), 21–36. www.isca.me

Haggenmüller, S. (2019). Revenue Recognition under IFRS 15: A Critical Evaluation of Predefined Purposes and Implications for Improvement. University of Gloucestershire, April, 1–424.

Liong, T. (2014). A Review of IFRS 15 Revenue from Contracts with Customers. Malaysian Accounting Standards Board, 15, 1–21. https://masb.org.my/press_list.php?id=4

Mattei, G., & Paoloni, N. (2018). Understanding the Potential Impact of IFRS 15 on the Telecommunication Listed Companies, by the Disclosures’ Study. International Journal of Business and Management, 14(1), 169. https://doi.org/10.5539/ijbm.v14n1p169

Napier, C. J., & Stadler, C. (2020). The real effects of a new accounting standard: the case of IFRS 15 Revenue from Contracts with Customers. Accounting and Business Research, 50(5), 474–503. https://doi.org/10.1080/00014788.2020.1770933

Sahputra, I., Noveriansi, R. (2022). The Principle of Measurement of Revenue based on International Financial Reporting Standard (IFRS) in Pharmaceutical Corporation. Journal of Pharmaceutical Negative Results, 13(3), 1631–1637. https://doi.org/10.47750/pnr.2022.13.S03.251

Saptono, P. B., & Khozen, I. (2021). Tax Administration Issues on Revenue Recognition after IFRS 15 Adoption in Indonesia. Jurnal Borneo Administrator, 17(2), 169–182. https://doi.org/10.24258/jba.v17i2.877

Sedki, S. S., Smith, A., & Strickland, A. (2014). Differences and Similarities Between IFRS and GAAP on Inventory, Revenue Recognition and Consolidated Financial Statements. Journal or Accounting and Finance, 14(2), 120–123. http://t.www.na-businesspress.com/JAF/SedkiSS_Web14_2_.pdf

Tillet, A. (2022). Revenue Recognition Comparability and Analysts’ Disclosure Processing Costs. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.4294063

منشور

2024-03-26

كيفية الاقتباس

Ismail, B. Y., & Khalid, N. W. (2024). THE EFFECT OF APPLYING IFRS 15 ON THE INCOME STATEMENT: AN APPLY STUDY ON AL-KHAYATE AL- HADYTHA FIRM: an apply study on Al-Khayata Al-Hadytha firm. مجلة العلوم الانسانیة لجامعة زاخو, 12(1), 156–164. https://doi.org/10.26436/hjuoz.2024.12.1.1334

إصدار

القسم

مجلة العلوم الانسانیة لجامعة زاخو