Accounting scandals and deficiencies in standards have persuaded international accounting standard-setters to rethink revenue recognition. The proposals of the joint IASB/FASB-project Revenue Recognition feature an asset-liability approach relying on measurement at fair values or at allocated...

Accounting scandals and deficiencies in standards have persuaded international accounting standard-setters to rethink revenue recognition. The proposals of the joint IASB/FASB-project Revenue Recognition feature an asset-liability approach relying on measurement at fair values or at allocated...

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 concerns models of profit and loss measurement in accordance with various approaches to revenue definition and recognition. First part defines different models as a result of a theoretical experiment, regardless postulates and axioms applied in any economic disciplines. It aims to show...

An International Financial Reporting Standards innovations process and its connections with theoretical fundamentals of balancing in accounting systems is the contents of this critique. Major problematic of new issue of revenue recognition is discussed. The new, so called ‚asset-liability...