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Revenue recognition in software industry
Marušáková, Tereza ; Vašek, Libor (advisor) ; Vácha, Petr (referee)
Diploma thesis is dedicated to software revenue recognition under IFRS and US GAAP. It aims to address all specifics related to software industry as well as challenges which arise from sales of intangible assets and intellectual property in form of licenses. Thesis covers both standard software delivery (OnPremise) and delivery in cloud for Software as a service. Significant portion is dedicated to multiple element arrangements which are very common for software industry. It also analyses new revenue recognition standard IFRS 15 Revenues from contracts with customers, which is a result of joined convergence project of IASB and FASB and how it will impact current revenue recognition practices in the industry.
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Financial reporting of software companies under IFRS
Blažek, Michal ; Vašek, Libor (advisor) ; Vácha, Petr (referee)
The thesis focuses on financial reporting under IFRS in comparison with US GAAP. It defines a software company and characterizes the business segment as very dynamic, rich in business combinations. The thesis describes methods of financial reporting of intangible assets, research and development and external sources for obtaining software. In-house created software is rarely capitalized that cause undervaluation of assets. In particular assets from business combination are reported. The thesis describes software revenue recognition according to current IFRS/US GAAP and the new revenue standard. It compares chosen aspects of reporting in segments: B2C, B2B, social networks, information security and search engines. In the conclusion, the thesis evaluates current situation in described segments regarding relevance of the standard to monetization models and intangible assets of software companies and it provides possible outlines in the future.
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Harmonization of accounting and financial reporting focussed on convergence process between IFRS and US GAAP
Vlčková, Zuzana ; Žárová, Marcela (advisor) ; Černý, Václav (referee)
This thesis explains the main purposes and aims of the convergence process between International Financial Reporting Standards and the American Generally Accepted Accounting Prinicples in a join projects between IASB (International Accounting Standards Board) and FASB (Financial Accounting Standard Board). In respect of the join projects, two are described. These are: "Revenue recognition" and "Presentation of financial statements". A major part of the financial statement element is the draft of statement of comprehensive income. Readers of this thesis will find included information about IFRS conceptual framework and in addition details of its planned replacement, which comes from convergence process.
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