Accounting aspects of revenues in double entry accounting of Slovakia and comparison with international accounting standards

Abstract

Revenue is the basic information needed to calculate the profit or loss of an entity that accounts in the underlying accounting system. The aim of the presented article is to point out the definition of revenues according to international accounting standards and their comparison with revenues in the Slovak Republic. The article is based on the requirements of the European Union and takes into account 2 assumptions: the accrual basis and the revenues according to IAS (for business entities) and IPSAS (for public administration entities). We used the method of comparison and the method of analysis. The article also contains the results of the control activities of the Financial Administration of the Slovak Republic, as revenues are the basic attribute for calculating the corporate income tax base. This is the initial phase of general analysis, in which we will continue with more detailed intentions in other published articles.