Özet:

In 2014, the International Accounting Standards Board published a new standard for the accounting of the revenue as "UFRS 15 - Customer Contracts Resolution" in order to eliminate the shortcomings of the previous revenue standard. The new standard has developed a five-step model for the accounting of revenue and aims to ensure consistency and comparability between this standard and different sectors. This study aims to address the existence of the important financing component of the new income standard, the variable price, discounts and the right to return, the original-member assessment and guarantees, and to contribute to a better understanding of the new standard from different aspects.

Özet:

In 2014, International Accounting Standards Board released the new standard on revenue recognition as “IFRS 15 – Revenue from Contracts with Customers” to overcome the deficiencies of current standard. It creates a five-step model for revenue recognition from contracts with customers and it is aimed that this new standard can promote consistency and comparability across different kinds of industries. This study examines the new revenue standard from the viewpoints of special issues; significant financing component, variable consideration, discounts and sales with a right of return, principal vs. agent consideration and warranties. It is expected that the study would contribute to the better understanding of the new standard by giving supportive examples. 

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