Accounting for retro discounts, bonuses and guarantees in accordance with International Financial Reporting Standards

Abstract

The article is devoted to the recognition in the accounting and reporting of enterprises of revenue from the sale of goods and services, taking into account the discounts provided for the additional volume of purchases. Emphasis is placed on taking into account in the accounting and reporting prepared according to the requirements of IFRS, the conditions, after the fulfillment of which the enterprise-seller of goods and services has the right to recognize discounts and guarantees in the accounting during the corresponding reporting period. Recommendations are provided, that allow for the uniform recognition of revenue from the sale of goods during the reporting periods, taking into account the retro discounts and guarantees provided in accordance with the requirements of IFRS 15. It is established, that usually discounts and guarantees, that provide for the presence of a commercial component for the seller of goods are expressed in the provision of bonuses to buyers for further purchases Therefore, the algorithms for the correct recognition in the accounting and reporting of discounts for the volume of purchases, bonuses and guarantees in the form of obligations to be fulfilled are given. CZU: [657.372.2:006.32](477); JEL: M41; DOI: https://doi.org/10.53486/isca2024.10