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Revenue Recognition Paper
Task:
The primary goal of this assignment is to examine and analyze the selected case, Revenue Recognition: Understanding the Impact of IFRS 15 – Revenue from Contracts with Customers. The secondary goal is to compare US GAAP recognizing revenue on long-term contracts.
Required Readings:
- Differences and Similarities Between IFRS and GAAP –
- The real effects of a new accounting standard: the case of IFRS 15 Revenue from Contracts with Customers –
- Attention: Be sure to review pages 480 – 488; section 3. The new revenue accounting standard
- Attention: Be sure to review pages 494-501; sections 4.3 (information effects) through 5 (conclusions).
Submission Instructions:
- The paper is to be clear and concise, and students will lose points for improper grammar, punctuation, and spelling.
- The text is to be 10 pages in length (typed, double-spaced), excluding the title page and reference pages. The student will automatically lose points if these guidelines are not followed.
