PERFORMANCE-BONUS CONTRACT IN LIGHT OF IFRS 15 AND THE POLISH ACCOUNTING ACT

The conditional element of the price included in the performance-bonus contract is a frequent component of contracts concluded with customers in some sectors. It is a deferred component of the price, which may never (in whole or in part) become a consideration due. Due to lack of unambiguous provisions in this respect in Polish domestic law and the entry into force of IFRS 15, the author raises the issue of accounting for such defined revenues. The aim is to analyze the provisions of IFRS 15 in the scope of a delivery contract with a performance bonus against the background of the provisions of the Polish Accounting Act. The verified thesis assumes that, although both regulations are consistent with the theoretical foundations of accounting, each of them differently recognizes the above-mentioned revenues. The goal was achieved by analyzing the regulations of IFRS 15, Polish Accounting norms and the presentation of a case study. The results confirmed a different recognition of revenues based on two analyzed legal regulations and indicated a large role of estimates in terms of revenue disclosures under IFRS 15.

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LEGAL ACTS

1. Ustawa z 23 kwietnia 1964 r. – Kodeks cywilny (tekst jedn. Dz.U. z 2017 r, poz. 459 ze zm.)
2. Ustawa z 29 września 1994 roku o rachunkowości (tekst jedn. Dz.U. z 2017 r., poz. 2342 ze zm.)