IFRS 15: A critical evaluation of the newly issued revenue recognitions standard’s ability to reflect economic reality
(2020) BUSN79 20201Department of Business Administration
- Abstract
- Purpose: The purpose of this study has been to critically evaluate the newly issued revenue
recognition standard’s ability to reflect economic reality.
Methodology: To fulfil the purpose of this study, a qualitative document analysis of how
different wide-spread perceptions of economic reality have been accommodated by the IASB
under the development of IFRS 15 has been conducted with a backdrop in the developed
framework.
Framework: The framework of this study entails an in-depth background to the new revenue
recognition standard, IFRS 15, and the notions of the central accounting concepts used for the
study.
Empirical foundation: The empirical foundation in this study rests on four documents and
one collection of received... (More) - Purpose: The purpose of this study has been to critically evaluate the newly issued revenue
recognition standard’s ability to reflect economic reality.
Methodology: To fulfil the purpose of this study, a qualitative document analysis of how
different wide-spread perceptions of economic reality have been accommodated by the IASB
under the development of IFRS 15 has been conducted with a backdrop in the developed
framework.
Framework: The framework of this study entails an in-depth background to the new revenue
recognition standard, IFRS 15, and the notions of the central accounting concepts used for the
study.
Empirical foundation: The empirical foundation in this study rests on four documents and
one collection of received letters. These are described in further detail under section 2.3.
Conclusions: During the standard-setting process of IFRS 15, different wide-spread
perceptions of economic reality have, seemingly, been acknowledged by IASB. Different
degrees and ways of accommodation, per area of critique, could be found. However, as the
notion of economic reality is highly dependent on perceptions, and is frequently a subject of
change, IFRS 15 ability to reflect economic reality is hard to adequately determine. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9016741
- author
- Wärnlund, Albin and Klein, Tobias
- supervisor
- organization
- course
- BUSN79 20201
- year
- 2020
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Revenue recognition, IFRS 15, Economic reality, Economic substance over legal form, True and Fair view
- language
- English
- id
- 9016741
- date added to LUP
- 2020-08-21 14:02:40
- date last changed
- 2020-08-21 14:02:40
@misc{9016741,
abstract = {{Purpose: The purpose of this study has been to critically evaluate the newly issued revenue
recognition standard’s ability to reflect economic reality.
Methodology: To fulfil the purpose of this study, a qualitative document analysis of how
different wide-spread perceptions of economic reality have been accommodated by the IASB
under the development of IFRS 15 has been conducted with a backdrop in the developed
framework.
Framework: The framework of this study entails an in-depth background to the new revenue
recognition standard, IFRS 15, and the notions of the central accounting concepts used for the
study.
Empirical foundation: The empirical foundation in this study rests on four documents and
one collection of received letters. These are described in further detail under section 2.3.
Conclusions: During the standard-setting process of IFRS 15, different wide-spread
perceptions of economic reality have, seemingly, been acknowledged by IASB. Different
degrees and ways of accommodation, per area of critique, could be found. However, as the
notion of economic reality is highly dependent on perceptions, and is frequently a subject of
change, IFRS 15 ability to reflect economic reality is hard to adequately determine.}},
author = {{Wärnlund, Albin and Klein, Tobias}},
language = {{eng}},
note = {{Student Paper}},
title = {{IFRS 15: A critical evaluation of the newly issued revenue recognitions standard’s ability to reflect economic reality}},
year = {{2020}},
}