Assignment First


为使IASB和FASB会计准则协调一致,各方做出了重大努力。已经采取的步骤之一是在收入确认的情况下从与客户的合同中引入收入。2014年指南发布后,AASB根据这些变化对AASB 118进行了修改。本报告旨在讨论这一变化对不同部门的公司会计核算的影响,以及采用这些会计准则可能遇到的问题。








代写招聘 :IASB和FASB会计准则的协调

There have been significant efforts to bring IASB and FASB accounting standard in harmony. One of the steps that have been taken is the introduction of revenue from contract with customers under revenue recognition. Subsequent to the issuance of guidelines in 2014 AASB has modified AASB 118 in line with these changes. The report has been prepared to discuss the impact of this change on the accounting by companies in different sections and what issues can be there in adopting these accounting standards.
AASB 118 provides the accounting treatment of revenue in case of certain type of transactions. The three different types of revenue recognition mechanism include
Revenue from Sales
Revenue from Services
Revenue from Interest, Royalty and Dividend
Based on these accounting standards, in accordance with the guidelines, the revenue is shown in the financial statements that are prepared. The accounting standard provides mechanism that has been put in place for recognition of revenue under these three heads.
In case of retail and oil and gas industry, there are specific issues. In retail sector, there might not be any contract, but additional services such as loyalty bonus may be provided. Handling such obligations that are fulfilled under contracts as additional benefits is important as additional revenue may not be considered as a result of these. Similar is the case with discounts being provided by the retailers but the handling of these will be different. In Oil & Gas industry, the issue with respect to production imbalances is there as the consideration of revenue for excess production has to be there wherein the compensation for such imbalances has to be studied and may differ with contracts.
The above discussion on the change in the recognition of revenue from contract has been discussed. As elaborated, there are certain issues that need to be addressed. IASB has also been updated on these issues and thus have provided clarification and even deferred the implementation. However, AASB has finally implemented it. In view of the above discussion, it can be said that these aspects, which have been discussed above, need to be handled carefully as it can result in anomalies that will have significant impact on the performance assessment.