The International Accounting Standards Committee issued the the International Accounting Standard 18, Revenue. The objective of IAS 18 The objective of IAS 18 is to prescribe the accounting treatment of revenue arising from certain types of transactions and events, namely the sale of goods, the...

We investigate the disciplining role of analysts’ revenue forecasts on firms’ discretionary revenues. We analyze quarterly data and find evidence that initiation of analysts’ revenue forecasts reported in IBES is associated with a decrease in the magnitude of discretionary revenues. Our...

These The main goal of the economic activity in the hotel industry is the provision of services to meet customer needs in the best conditions and at a high level of service quality. The paper contains a series of case studies that highlight the accounting treatment of the main operations related...

The aim of non-profit entities is not that of obtaining economic benefits or advantages but that of mainly carrying on charity actions, respectively of helping certain social categories of people. In specialty literature we find rather scarce articles referring to accounting treatments of...

This paper presents some fiscal and accounting aspects of income tax like payers, applicability. It describe fiscal and accounting treatments of income tax and also IAS 12 treatment of tax income. Income taxes are an expense incurred in operating most businesses, and as such are to be reflected...

The SEC issued Staff Accounting Bulletin No. 101 regarding the revenue recognition. Critics of the bulletin stated that it would eliminate industry-accepted revenue recognition practices and reduce quality of reported earnings because revenues recorded prior to the completion of the earnings...

The paper reacts to the present development in the field of revenue recognition under IFRS and US GAAP. IASB and FASB published an Exposure Draft Revenue from Contracts with Customers under joint Revenue Recognition Project. The Draft introduces a new guidance on revenue recognition, which may...

The paper shortly introduces the outcomes of a research project “New Approaches to Revenue Recognition in the World and the Possibilities of Their Utilisation in the Czech Republic” registered by Internal Grant Agency of University of Economics, Prague. The findings of the project will be...

This paper focused on detailed characterization of some basic elements of accounting science. The author highlighted the necessity of understanding basic terms, categories and constitution of accounting theory for next development of the standardization process by financial reporting. The...

This paper presents a statistical analysis confirming the former empirical findings that positive differences between the growth rates of P-Score and Z-score appears in financial statement data of companies involved in major financial fraud. The paper examines firms that engaged in fraud in the...