Research Paper (postgraduate) from the year 2021 in the subject Business economics - Accounting and Taxes, grade: 88%, Manchester Metropolitan University Business School, course: Corporate Reporting, language: English, abstract: The International Financial Reporting Standard 15 (IFRS 15) - Revenue from Contracts with Customers, announced in May 2014 by the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB), has widely changed the way how companies recognise, measure and disclose revenues. This article investigates the question of whether the objectives to eliminate inconsistencies, improve comparability and increase revenue levels were achieved in practice. The aim is to synthesize previous research on the various effects of the IFRS 15 implementation, specifically the accounting and information effects, and provide empirical evidence for the impact on financial statements. As available literature has identified the effects for the Retail sector only superficially without any quantification, this article aims to bridge current knowledge gaps by focusing on Retail companies. To carry out this research, the author has selected four multinational Retail companies to review qualitative and quantitative information on the IFRS 15 implementation from their annual reports to determine possible accounting and information effects. Results show that IFRS 15 had no significant but slightly positive impact on the financial figures of the selected companies, leading to the conclusion that the persued goal to improve revenue levels turned effective in the Retail sector.

Introduction to IFRS 15 and SAP revenue accounting and reporting -- Project execution approach -- Configuring SAP revenue accounting and reporting -- Transition strategy and options -- Business cases: telecom and high tech -- Conclusion

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.

IFRS 15 Explained: A Practical Handbook for Revenue Recognition Delve into the intricate realm of IFRS 15 with this comprehensive guide tailored for both novices and experts. Unlike conventional technical manuals, this book provides a unique blend of detailed theoretical understanding and real-world application. Key Features: Understand the Core: Embark on a journey from the foundational principles of IFRS 15 to its nuanced applications in diverse scenarios. Practical Scenarios & Case Studies: Discover real-world examples that demystify complex revenue recognition challenges. Dynamic Tools: Equip yourself with robust templates and checklists, ensuring you're always IFRS 15 compliant. FAQs & Recent Developments: Stay updated and resolve common queries with a dedicated section on frequently asked questions and the latest amendments to the standard. Whether you're an accounting professional, a business owner, or a student, this handbook promises a lucid understanding of the pivotal standard that has redefined revenue recognition. Crafted with precision and a commitment to clarity, it's an indispensable resource in the ever-evolving landscape of financial reporting.