The study focuses on issues related to the implementation
of the new IFRS 15 Revenue from Contracts with
Customers. The most debatable issues regarding the
requirements of the new five-step revenue recognition
approach are discussed, as well as the conceptual basis
of this approach and its relationship with the IFRS
Conceptual Framework and the purposes of the general
purpose financial statements. On the basis of manually
collected empirical data, two samples of Bulgarian
enterprises are examined: the first covers nine firms from different industries (listed on the Large taxpayers and insurers list), and the second – the 4 largest Bulgarian mobile operators. Both quantitative and qualitative approaches are used in order to analyze how IFRS 15 is applied in the sample of companies and the effects of its adoption (on equity and financial results) in the first year of its application – 2018 (as well as the comparative period 2017)
