The Impact of Applying International Financial Reporting Standard No. 15 (Revenue from Contracts with Customers) on Revenue Recognition and Profit Quality

The research aimed to identify International Accounting Standard No. 15 and demonstrate its potential to resolve accounting problems related to revenue recognition. This study thus explores the impact of this recognition on the quality of profits achieved by the economic unit. 80 questionnaires were distributed to a group of accounting professors and auditors, 70 of which were approved and the rest excluded. The questionnaires included two sections: the first on the accounting problems that can be resolved through this standard, and the second on the quality of profits achieved through its implementation. The statistical results indicated that implementing the requirements of this standard has a significant impact on resolving accounting problems related to revenue recognition, which in turn impacts the quality of profits by providing quality information in the financial statements, thus proving the research hypothesis.