Abstract:

Revenues are one of the most important concepts in accounting, and their recognition is particularly important according to various standards, because they affect the amount of benefits achieved, and thus shape the financial result. The aim of the paper is to present the principles of recognizing revenues according to US GAAP and IFRS and to analyze how recognized revenues according to various standards will affect the financial result. The research methods used are based on the  studies of professional articles and legal acts, including  Accounting Standards and relevant IAS/IFRS and US GAAP and the presentation of the income statement according to US GAAP and IFRS, as well as an analysis of what revenues have been taken into account and how they affect the financial result.