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2010 | 2010(54(110)) | 117-128
Article title

Incomes as a category in the accounting law

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EN
Income is one of the most important financial categories in entity's operations. The financial result and profitability often depend on income. The Polish Account-ing Act and IAS 18 define income in a very similar way. The main difference is that in Polish regulations it is stressed that economic benefits should be properly sub-stantiated. IAS 18 prescribes that income should be measured at the fair value of the payment received or due.In 2008 the IASB issued a discussion paper addressing the problem of income recognition. This is a joint project of IASB and FASB, one of the priorities in the convergence plan, which should be completed by 2011.
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bwmeta1.element.ceon.element-a162bb28-5db7-3ae4-af3e-c927036066eb
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