Abstract

RAMIREZ TORRES, Gabriel; PEREZ FALCO, Grisel; RAMOS ALVAREZ, Andrés  and  IGLESIAS MORAN, Jessica Alejandra. Improved revenue recognition under IFRS 15 in Ecuador. RCUISRAEL [online]. 2018, vol.5, n.1, pp.53-64.  Epub Apr 08, 2018. ISSN 2631-2786.  https://doi.org/10.35290/rcui.v5n1.2018.64.

The Superintendency of Companies, Securities and Insurance on August 21, 2006 through resolution 06.Q.ICI.004 established the mandatory application of International Financial Reporting Standards (IFRS) in Ecuador (Superintendencia de Compañías, 2006). This resolution determines that any change or update to these international standards will be of local application and mandatory. In May 2014, the Board issued IFRS 15 referring to Income from Ordinary Activities from Contracts with Customers that provides a comprehensive framework for the recognition of income, so that the application and transition of this new standard will affect all businesses , in varying degrees according to the operation and business direction of each company, such that with an effective transition date that began on January 1, 2017, provided the entities the opportunity to carefully consider the new requirements and solve in advance potential problems in each area that affects (Deloitte, 2017).

Keywords : IFRS; income ordinary activities; client contracts; transaction price..

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