Features of Recognizing and Accounting for Revenue in Accordance with IFRS 15

Abstract

This article analyzes the provisions of IFRS 15 regarding the recognition and reporting of sales revenue in various situations. The article examines the provisions for reflecting revenue when providing discounts, gift certificates, warranties, etc. in accordance with the provisions of IFRS 15. A comparative analysis of the provisions for recognizing and measuring revenue in accordance with the provisions of IFRS 15 and NAS Revenue is also provided. It should be noted that Moldova signed the Agreement on Accession to the European Union, which requires bringing the country's regulatory and legislative acts into line with the requirements of the European Union. It should be emphasized that a number of provisions of NAS Revenue are already outdated and do not meet the requirements of IFRS 15. Therefore, the author proposes supplementing the balance sheet with a number of line items, introducing additional accounts into the chart of accounts, and modifying NAS Revenue in accordance with the provisions of IFRS 15. CZU: 657.44:006.44(478); JEL: М41