An Evaluation of the Impacts of the Adoption of IFRS 15 Revenue From Contracts With Customers

40 Pages Posted: 16 Nov 2021 Last revised: 15 Jun 2022

See all articles by Le Ma

Le Ma

University of Technology Sydney (UTS)

Sebastian Onie

University of Technology Sydney (UTS)

Helen Spiropoulos

University of Technology Sydney (UTS)

Peter Alfred Wells

University of Technology Sydney, Accounting Discipline Group ; Financial Research Network (FIRN)

Date Written: November 3, 2021

Abstract

The objective of this paper is to evaluate the impact of the adoption of IFRS 15 Revenue from Contracts with Customers on the relevance of general purpose financial reports for Australian listed firms. There was considerable variation in the impacts and the disclosures made relating to transition to the new standard, and that many firms transitioned with minimal disclosures. This included firms where the impacts were material. There is some evidence that the impacts of transitioning to the new accounting standard were targeted at firms where earnings were less relevant. However, there is little evidence that the new standard improved the relevance of earnings generally, and whether it resolved issues with the relevance of earnings is doubtful.

Keywords: Revenue, IAS 15

JEL Classification: M41, G32

Suggested Citation

Ma, Le and Onie, Sebastian and Spiropoulos, Helen and Wells, Peter Alfred, An Evaluation of the Impacts of the Adoption of IFRS 15 Revenue From Contracts With Customers (November 3, 2021). Available at SSRN: https://ssrn.com/abstract=3963462 or http://dx.doi.org/10.2139/ssrn.3963462

Le Ma (Contact Author)

University of Technology Sydney (UTS) ( email )

15 Broadway, Ultimo
PO Box 123
Sydney, NSW 2007
Australia

Sebastian Onie

University of Technology Sydney (UTS) ( email )

15 Broadway, Ultimo
PO Box 123
Sydney, NSW 2007
Australia

Helen Spiropoulos

University of Technology Sydney (UTS) ( email )

15 Broadway, Ultimo
PO Box 123
Sydney, NSW 2007
Australia
+61295143286 (Phone)
+61295143669 (Fax)

Peter Alfred Wells

University of Technology Sydney, Accounting Discipline Group ( email )

P.O. Box 123
Broadway NSW 2007
Australia
+61 (02) 9514 3628 / 3629 (Phone)
+61 (02) 9514 5515 (Fax)

Financial Research Network (FIRN)

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