Perception of accountants on IFRS 15 ‘Revenue from Contracts with Customers’ in the Republic of Ireland post implementation

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Fernandes, Jonathan
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MSc in International Accounting and Finance
Dublin Business School
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This research is focused on the views and opinions of Accountants, in the Republic of Ireland, on IFRS 15 – ‘Revenue from Contracts with Customers.’ This paper is about IFRS 15 from the perspective of accountants and how satisfied they are with the change in the way Revenue is recognised. For this paper the researcher adopted a qualitative research with a sample of 4 Accountants, by conducting interview sessions. The selection of participants was through a purposive sampling technique. All participants hold professional Accountancy positions in their respective organisation and could make a relevant contribution to this research. The researcher found that although, the accountants appreciated IFRS 15 and how it would lead to transparent reporting, they were less confident with the level of subjectivity involved in decision making. Secondly, how the implementation of IFRS 15 has been costly to organisations. Lastly, there were unable to give their opinions on IFRS 15 contribution to global comparable reporting. In their view, IFRS 15 was still an evolving standard and global comparability was a long way ahead.