Objective of the Paper: The aim of this semester paper is a detailed analysis, i

Objective of the Paper:
The aim of this semester paper is a detailed analysis, interpretation, and application of the International Financial Reporting Standards (IFRS) No. 15 titled ″Revenue from Contracts with Customers″ in a real corporate environment. The student will be tasked not only with understanding the content of this standard but also with applying it to specific situations and examples in the business context.
Structure of the Paper:
1.Introduction to the IFRS 15 Standard
Basic principles
Objectives of the standard
2. Analysis of the main elements of the standard
Identification of contractual parties
Identification of contracts
Determination of contract price
Recognition of revenues
3. Application of the standard in practice
– Case Study 1: Application of IFRS 15 in Company X
Desсrіption of Company X and its revenue recognition practices before implementing IFRS 15
Steps taken to implement IFRS 15 in Company X
Analysis of the impact of implementing IFRS 15 on Company X′s financial statements
Lessons learned and recommendations for other companies
– Case Study 2: Application of IFRS 15 in Company Y
Desсrіption of Company Y and its revenue recognition practices before implementing IFRS 15
Challenges faced during the implementation of IFRS 15 in Company Y
Strategies adopted by Company Y to overcome these challenges
Evaluation of the effectiveness of these strategies and the overall impact on Company Y′s financial performance
Discussion and Conclusion
-Assessment of the significance of the IFRS 15 standard for corporate practice
-Possibilities for further development and utilization