Abstract:

The dynamism and magnitude of the evolution of economic and social life have led to the development of society as a whole and the progress of economic structures. In these circumstances, the needs of users of financial-accounting information become more and more extensive, so that the entities have the obligation to adapt their information to the market requirements. This paper aims to highlight the main issues arising from the adoption and application of IFRS 15 „Revenues from contracts with customers”. At the same time, the aim is to analyze the main sectors on which the standard has had a considerable impact in terms of revenue recognition methodology, such as the aerospace industry, construction, licensors, software, telecommunications, real estate and others. Therewith, some examples have been illustrated to highlight the impact of this standard.