The real effects of a new accounting standard: the case of IFRS 15 Revenue from Contracts with Customers

References

• Accounting Standards Board, 1994. Financial reporting standard 5 (FRS 5). Reporting the substance of transactions.
   Google Scholar
• Accounting Standards Board, 1999. Statement of principles for financial reporting.
   Google Scholar
• Accounting Standards Board, 2003. Amendment to FRS 5 ‘reporting the substance of transactions’. Revenue recognition (Application Note G).
   Google Scholar
• Ball, R. 1972. Changes in accounting techniques and stock prices. Journal of Accounting Research, 10 (Empirical research in accounting: selected studies), 1–38.
   Google Scholar
• Barker, R., 2010. On the definitions of income, expenses and profit in IFRS. Accounting in Europe, 7 (2), 147–158. doi: 10.1080/17449480.2010.511892
   Google Scholar
• Barth, M.E., Cahan, S.F., Chen, L., and Venter, E.R., 2017. The economic consequences associated with integrated report quality: capital market and real effects. Accounting, Organizations and Society, 62, 43–64. doi: 10.1016/j.aos.2017.08.005
   Web of Science ®Google Scholar
• Benson, H., 1989. Accounting for Life. London: Kogan Page.
   Google Scholar
• Bereskin, F.L., Hsu, P.-H., and Rotenberg, W., 2018. The real effects of real earnings management: evidence from innovation. Contemporary Accounting Research, 35 (1), 525–557. doi: 10.1111/1911-3846.12376
   Web of Science ®Google Scholar
• Briloff, A.J., 1972. Unaccountable Accounting. New York: Harper and Row.
   Google Scholar
• Briloff, A.J., 1976. More Debits Than Credits: The Burnt Investor’s Guide to Financial Statements. New York: Harper and Row.
   Google Scholar
• Camfferman, K. and Zeff, S.A., 2015. Aiming for Global Accounting Standards: The International Accounting Standards Board, 2011–2011. Oxford: OUP.
   Google Scholar
• Christensen, H.B., Floyd, E., Liu, L.Y., and Maffett, M., 2017. The real effects of mandated information on social responsibility in financial reports: evidence from mine-safety records. Journal of Accounting and Economics, 64 (2-3), 284–304. doi: 10.1016/j.jacceco.2017.08.001
   Web of Science ®Google Scholar
• Christensen, H.B. and Nikolaev, V.V., 2017. Contracting on GAAP changes: large sample evidence. Journal of Accounting Research, 55 (5), 1021–1050. doi: 10.1111/1475-679X.12175
   Web of Science ®Google Scholar
• Dechow, P.M., Ge, W., Larson, C.R., and Sloan, R.G., 2011. Predicting material accounting misstatements. Contemporary Accounting Research, 28 (1), 17–82. doi: 10.1111/j.1911-3846.2010.01041.x
   Web of Science ®Google Scholar
• De Lacy, J., 1995. Romalpa theory and practice under retention of title in the sale of goods. Anglo-American Law Review, 24 (3), 327–368.
   Google Scholar
• Dicksee, L.R., 1903. Advanced Accounting. London: Gee & Co.
   Google Scholar
• Dou, Y., Ryan, S.G., and Xie, B., 2018. The real effects of FAS 166/167 on banks’ mortgage approval and sale decisions. Journal of Accounting Research, 56 (3), 843–882. doi: 10.1111/1475-679X.12204
   Web of Science ®Google Scholar
• Dou, Y. and Zou, Y., 2019. The real effects of geographic lending disclosure on banks. Available from: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3435099 [Accessed 29 November 2019].
   Google Scholar
• Ernstberger, J., Link, B., Stich, M., and Vogler, O., 2017. The real effects of mandatory quarterly reporting. The Accounting Review, 92 (5), 33–60. doi: 10.2308/accr-51705
   Web of Science ®Google Scholar
• European Community, 1978. Fourth council directive of 25 July 1978 based on article 54 (3) (g) of the treaty on the annual accounts of certain types of companies (78/660/EEC) (Fourth Directive on Company Law).
   Google Scholar
• Fields, T.D., Lys, T.Z., and Vincent, L., 2001. Empirical research on accounting choice. Journal of Accounting and Economics, 31 (1-3), 255–307. doi: 10.1016/S0165-4101(01)00028-3
   Web of Science ®Google Scholar
• Financial Accounting Standards Board, 1980. Statement of financial accounting concepts no. 3 (SFAC 3). Elements of financial statements of business enterprises.
   Google Scholar
• Financial Accounting Standards Board, 1984. Statement of financial accounting concepts no. 5 (SFAC 5). Recognition and measurement in financial statements of business enterprises.
   Google Scholar
• Financial Accounting Standards Board, 2008. Preliminary views on revenue recognition in contracts with customers.
   Google Scholar
• Financial Accounting Standards Board, 2014. Accounting standards classification topic 606 (ASC 606). Revenue from contracts with customers.
   Google Scholar
• Financial Reporting Council, 2018. Financial reporting standard 102 (FRS 102). The Financial Reporting Standard applicable in the UK and Republic of Ireland.
   Google Scholar
• Francis, J., 2001. Discussion of empirical research on accounting choice. Journal of Accounting and Economics, 31 (1–3), 309–319. doi: 10.1016/S0165-4101(01)00017-9
   Web of Science ®Google Scholar
• Hart, O., 2009. Regulation and Sarbanes-Oxley. Journal of Accounting Research, 47 (2), 437–445. doi: 10.1111/j.1475-679X.2009.00329.x
   Web of Science ®Google Scholar
• Healy, P.M. and Wahlen, J.M., 1999. A review of the earnings management literature and its implications for standard setting. Accounting Horizons, 13 (4), 365–383. doi: 10.2308/acch.1999.13.4.365
   Google Scholar
• Hines, R.D. 1988. Financial accounting: in communicating reality, we construct reality. Accounting, Organizations and Society, 13 (3), 251–261. doi: 10.1016/0361-3682(88)90003-7
   Web of Science ®Google Scholar
• Institute of Chartered Accountants in England and Wales, 1964. Recommendation on accounting principles 23 (N23). Hire purchase, credit sale and rental transactions. In: Zeff, S.A., ed., 2009. Principles Before Standards: The ICAEW's ‘N Series’ of Recommendations on Accounting Principles 1942–1969. London: ICAEW, 142–150.
   Google Scholar
• Institute of Chartered Accountants in England and Wales, 1971. Survey of Published Accounts 1969–70. London: ICAEW.
   Google Scholar
• Institute of Chartered Accountants in England and Wales, 1976. Accounting recommendation V24. Accounting for goods sold subject to reservation of title.
   Google Scholar
• International Accounting Standards Board, 2010. Exposure draft ED/2010/6. Revenue from contracts with customers.
   Google Scholar
• International Accounting Standards Board, 2011. Exposure draft ED/2011/6. Revenue from contracts with customers.
   Google Scholar
• International Accounting Standards Board, 2014. International financial reporting standard 15 (IFRS 15). Revenue from contracts with customers.
   Google Scholar
• International Accounting Standards Board, 2018. Conceptual framework for financial reporting.
   Google Scholar
• International Accounting Standards Committee, 1979. International accounting standard 11 (IAS 11). Accounting for construction contracts.
   Google Scholar
• International Accounting Standards Committee, 1982. International accounting standard 18 (IAS 18). Revenue recognition.
   Google Scholar
• International Accounting Standards Committee, 1989. Framework for the preparation and presentation of financial statements.
   Google Scholar
• International Accounting Standards Committee, 1993a. International accounting standard 11 (IAS 11). Construction contracts.
   Google Scholar
• International Accounting Standards Committee, 1993b. International accounting standards 18 (IAS 18). Revenue.
   Google Scholar
• Kanodia, C., 1980. Effects of shareholder information on corporate decisions and capital market equilibrium. Econometrica, 48 (4), 923–953. doi: 10.2307/1912940
   Web of Science ®Google Scholar
• Kanodia, C., 2006. Accounting disclosure and real effects. Foundations and Trends® in Accounting, 1 (3), 167–258. doi: 10.1561/1400000003
   Google Scholar
• Kanodia, C. and Mukherji, A., 1996. Real effects of separating investment and operating cash flows. Review of Accounting Studies, 1 (1), 51–71. doi: 10.1007/BF00565412
   Google Scholar
• Kanodia, C. and Sapra, H., 2016. A real effects perspective to accounting measurement and disclosure: implications and insights for future research. Journal of Accounting Research, 54 (2), 623–676. doi: 10.1111/1475-679X.12109
   Web of Science ®Google Scholar
• Leftwich, R., 1981. Evidence of the impact of mandatory changes in accounting principles on corporate loan agreements. Journal of Accounting and Economics, 3 (1), 3–36. doi: 10.1016/S0165-4101(81)80001-8
   Google Scholar
• Levitt, A., 1998. The ‘numbers game’. Speech at New York University Center for Law and Business, 28 September. Available from: https://www.sec.gov/news/speech/speecharchive/1998/spch220.txt [Accessed 30 November 2019].
   Google Scholar
• Leuz, C. and Wysocki, P.D., 2016. The economics of disclosure and financial reporting regulation: evidence and suggestions for future research. Journal of Accounting Research, 54 (2), 525–622. doi: 10.1111/1475-679X.12115
   Web of Science ®Google Scholar
• Nobes, C.W., 2012. On the definitions of income and revenue in IFRS. Accounting in Europe, 9 (1), 85–94. doi: 10.1080/17449480.2012.664395
   Google Scholar
• Oxford English Dictionary, 2011. Revenue. Oxford English Dictionary. Oxford: OUP. On-line edition. Available from: https://www.oed.com/view/Entry/164734 [Accessed 30 November 2019].
   Google Scholar
• Paton, W.A., 1922. Accounting Theory: With Special Reference to the Corporate Enterprise. New York: Ronald Press.
   Google Scholar
• Paton, W.A. and Littleton, A.C., 1940. An Introduction to Corporate Accounting Standards. New York: American Accounting Association.
   Google Scholar
• Previts, G.J. and Merino, B.D., 1998. A History of Accountancy in the United States: The Cultural Significance of Accounting. Columbus: Ohio State University Press.
   Google Scholar
• Roberts, C.B., Salter, S.A., and Kantor, J., 1996. The IASC comparability project and current financial reporting reality: an empirical study of reporting in Europe. The British Accounting Review, 28 (1), 1–22. doi: 10.1006/bare.1996.0001
   Google Scholar
• Roychowdhury, S., 2006. Earnings management through real activities manipulation. Journal of Accounting and Economics, 42 (3), 335–370. doi: 10.1016/j.jacceco.2006.01.002
   Web of Science ®Google Scholar
• Trainer, D., 2019. How companies implemented the new revenue recognition standard. Forbes, 10 October. Available from: https://www.forbes.com/sites/greatspeculations/2019/10/10/how-companies-implemented-the-new-revenue-recognition-standard/#4375caba920e [Accessed 30 November 2019].
   Google Scholar
• Turner, L.E., 1998. Towards higher values in financial reporting. Speech at the Financial Executives Institute 1998 Annual Conference, 22 October. Available from: https://www.sec.gov/news/speech/speecharchive/1998/spch231.htm [Accessed 30 November 2019].
   Google Scholar
• Wüstemann, J. and Kierzek, S., 2005. Revenue recognition under IFRS revisited: conceptual models, current proposals and practical consequences. Accounting in Europe, 2 (1), 69–106. doi: 10.1080/09638180500379111
   Google Scholar
• Zeff, S.A., 1978. The rise of ‘economic consequences’. Journal of Accountancy, 146 (6), 56–63.
   Web of Science ®Google Scholar
• Zeff, S.A., 2018. An Introduction to Corporate Accounting Standards: detecting Paton’s and Littleton’s influences. Accounting Historians Journal, 45 (1), 45–67. doi: 10.2308/aahj-10578
   Web of Science ®Google Scholar