An evaluation of the impacts of the adoption of IFRS 15 Revenue from Contracts with Customers

Onie, S; Ma, L; Spiropoulos, H; Wells, P

An evaluation of the impacts of the adoption of IFRS 15 Revenue from Contracts with Customers

Onie, S Ma, L

Spiropoulos, H

Wells, P

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Publisher:: Wiley
Publication Type:: Journal Article
Citation:: Accounting and Finance, 2023, 62, (S1), pp. 953-973
Issue Date:: 2023-01-01

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Field	Value	Language
dc.contributor.author	Onie, S
dc.contributor.author	Ma, L https://orcid.org/0000-0003-1115-5051
dc.contributor.author	Spiropoulos, H https://orcid.org/0000-0002-7748-6577
dc.contributor.author	Wells, P https://orcid.org/0000-0001-6822-4826
dc.date.accessioned	2024-02-13T21:17:48Z
dc.date.available	2024-02-13T21:17:48Z
dc.date.issued	2023-01-01
dc.identifier.citation	Accounting and Finance, 2023, 62, (S1), pp. 953-973
dc.identifier.issn	0810-5391
dc.identifier.issn	1467-629X
dc.identifier.uri	http://hdl.handle.net/10453/175647
dc.description.abstract	This paper evaluates the impact of IFRS 15 Revenue from Contracts with Customers on the value relevance of financial reports for Australian listed firms. We find that for most firms the impacts of transition were immaterial, however some firms experienced a significant reduction in earnings and/or retained earnings and for these firms the value relevance of earnings was generally lower in the pre-adoption period compared to firms in which there was no material impact. Post adoption, there is little evidence that the standard improved the relevance of earnings generally.
dc.language	English
dc.publisher	Wiley
dc.relation.ispartof	Accounting and Finance
dc.relation.isbasedon	10.1111/acfi.12978
dc.rights	info:eu-repo/semantics/openAccess
dc.subject	1402 Applied Economics, 1501 Accounting, Auditing and Accountability, 1502 Banking, Finance and Investment
dc.subject.classification	Accounting
dc.subject.classification	3501 Accounting, auditing and accountability
dc.subject.classification	3502 Banking, finance and investment
dc.subject.classification	3801 Applied economics
dc.title	An evaluation of the impacts of the adoption of IFRS 15 Revenue from Contracts with Customers
dc.type	Journal Article
utslib.citation.volume	62
utslib.for	1402 Applied Economics
utslib.for	1501 Accounting, Auditing and Accountability
utslib.for	1502 Banking, Finance and Investment
pubs.organisational-group	University of Technology Sydney
pubs.organisational-group	University of Technology Sydney/Faculty of Business
pubs.organisational-group	University of Technology Sydney/Faculty of Business/Accounting Discipline
utslib.copyright.status	open_access	*
pubs.consider-herdc	false
dc.date.updated	2024-02-13T21:17:47Z
pubs.issue	S1
pubs.publication-status	Published
pubs.volume	62
utslib.citation.issue	S1

Abstract:

This paper evaluates the impact of IFRS 15 Revenue from Contracts with Customers on the value relevance of financial reports for Australian listed firms. We find that for most firms the impacts of transition were immaterial, however some firms experienced a significant reduction in earnings and/or retained earnings and for these firms the value relevance of earnings was generally lower in the pre-adoption period compared to firms in which there was no material impact. Post adoption, there is little evidence that the standard improved the relevance of earnings generally.

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http://hdl.handle.net/10453/175647