Performance obligations for “revenue from contracts with customers” principle in the shipping industry

• Main Authors: Duru, Okan, Mileski, Joan P., Gunes, Ergun
• Other Authors: School of Civil and Environmental Engineering
• Format: Article
• Language: English
• Published: 2023
• Subjects: Engineering::Maritime studies; Accounting Economics; Performance Obligations
• Online Access: https://hdl.handle.net/10356/164347
• Institution: Nanyang Technological University

Purpose: The aim of this paper is to investigate the gap between cost-based and time-based revenue recognition schemes in the accounting of ship-owning corporations, and to propose cost-based revenue recognition (as in general accounting practice) in connection with the performance obligations. Desi...