The Effect of Adopting the International Financial Reporting Standard (IFRS 15) In the Financial Statements and its Reflection on the Value of the Enterprise (Applied Research in the Contracting Sector)

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Haider Nehme Kazem, Dr. Saad Salman Awad Al-Maaini

Abstract

The research aims to describe the methods and practices of revenue recognition in accordance with International Accounting Standards (IAS) and local accounting practices (IQGAAP), past and present, which are reflected in the accounting treatments for revenue recognition in accordance with the International Financial Reporting Standard (15FRS), and its impact on the financial statements and its reflection on the value of the facility.


To achieve the objectives of the research, the researcher used a case study in the Middle East Creativity and Real Estate Investments Company to apply the International Financial Reporting Standard (15FRS) at the later date and to show the impact of adopting the standard and the differences that appeared within the financial figures and measuring their reflection on the value of the facility before and after the adoption of the standard.

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