volume 2, issue 3, P211-223 2017
DOI: 10.1108/mabr-02-2017-0009
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Okan Duru, Joan P. Mileski, Ergun Gunes

Abstract: 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. Design/methodology/approach-For a comparative analysis of time-based (traditional approach) and cost-based schemes, a sample of dry bulk ships is selected and voyage estimations are performed by certified professional sh…

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