The Impact of IFRS 15 on Earnings Quality in businesses such as hotels: critical evidence from the Iraqi environment.

Abstract

The aim of this study is to investigate the effect of IFRS 15 adoption on contracts’ revenue from customers in the amount and the quality of accounting profits in the Iraqi environment which are known for their volatility, essential continuity and improved predictive value. To achieve the objective of this study, a questionnaire was distributed to a sample of academics and professionals who are teaching applications of accounting standards in the specific area of international accounting and financial reporting standards. This study revealed that there was no significant impact in the effect of IFRS 15 on the quality of net profits and the study proposed that, generally, the international financial accounting and reporting standards in Iraq are not applicable under the specific criterion of IFRS 15. Thus, at the present time, the outcomes of the study are not ideal or in fact even suitable, and when applying the standards in the future, the level of impact may hopefully improve rather than focusing primarily on the related questionnaire tool.

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