Application of the revenue standard from customer contracts of TFRS 15 on enterprises in the service industry

Economic borders between countries have been removed to a great extent and a wide investment portfolio has been created for investors around the world from past to present thanks to the technology. There was a need for a financially common language and due to this need, International Accounting Standards and International Financial Reporting Standards were created. Turkey has started to implement these standards as IAS and IFRS. One of the most important information that companies/businesses report is their revenues from their activities. TMS 18 Revenue Standard was published as the first standard for monitoring revenue, but it was insufficient in the face of changing needs over time. For this reason, TFRS 15 Revenue Standard from Customer Contracts was published later. In this study, the accounting of revenues of companies operating in the service sector within the scope of TFRS 15 will be illustrated with separate examples from the Hotel Management and Software sector. Differences will be evaluated by comparing with the Tax Procedure Law. Keywords: Revenue, IFRS 15, Revenue, Service, Hospitality, Software