Open AccessThe Possibility of the Jordanian Industrial Corporations to Apply the IFRS No. 15
Author(s) -
Hasan Mahmoud AL-Shatnawi
Publication year - 2017
Publication title -
asian journal of finance and accounting
Language(s) - English
Resource type - Journals
ISSN - 1946-052X
DOI - 10.5296/ajfa.v9i1.11212
Subject(s) - commit , accounting , sample (material) , revenue , business , international financial reporting standards , audit , test (biology) , descriptive statistics , point (geometry) , revenue recognition , accounting standard , actuarial science , accounting information system , financial accounting , computer science , statistics , mathematics , database , paleontology , chemistry , geometry , chromatography , biology
The goal of this study is to explore the possibility for the Jordanian industrial corporations to apply the International Financial Reporting Standers (IFRS) No. 15 from the point of view of the financial reporting preparers. To achieve the objectives of the study, a questionnaire was designed and distributed to a sample consisting of 84 individuals. Descriptive statistics were used to describe the study sample such as the frequencies, arithmetic mean, and standard deviation. In addition, the one-sample t-test was employed to test the study hypotheses at the 0.05 level of significance. This study showed that it is possible for the Jordanian industrial corporations to commit to the requirements for revenue recognition and the accounting measurement. As well as it is not possible commit to the requirements for the accounting disclosure of the revenues according to the IFRS 15. Furthermore, this study recommended to encouraging the corporations to commit to the requirements for revenue disclosure according to the IFRS 15 in such a way as to reinforce/foster trust of the users of the accounting information in the financial reports.