ACCOUNTING ASPECT OF INCOME IN FINANCIAL BUSINESS

Zdravka Petković; Biljana Ivanova; Slaviša Đorđević; Biljana Ćorić; Joao Kaputo

doi:10.59864/Oditor22403ZP

Authors

Zdravka Petković Professor of Applied Studies, Belgrade Business and Arts Academy of Applied Studies, Belgrade, Serbia Author https://orcid.org/0000-0002-5607-387X
Biljana Ivanova Military Academy, University of Defense, Belgrade, Serbia Author https://orcid.org/0000-0002-4722-770X
Slaviša Đorđević Faculty of Economics in Pristina with temporary seat in Kosovska Mitrovica, University of Pristina, Serbia Author https://orcid.org/0000-0003-3202-427X
Biljana Ćorić First School of Economics, Belgrade, Serbia Author https://orcid.org/0009-0000-7914-3554
Joao Kaputo Estudante, Força Aérea Angolana, Rua 17 de Setembro, Luanada, Angola Author

DOI:

https://doi.org/10.59864/Oditor22403ZP

Keywords:

accounting treatment of income, financial operations

Abstract

Income is the gross inflow of economic benefits during the accounting period, which results from the regular activities of a business entity and which results in an increase in its capital, except for increases related to the contributions of capital owners. There are different names for certain types of income: income from sales, commissions, interest, dividends, royalties. The standard is applied for the accounting inclusion of income arising from the following transactions and events: sale of goods, provision of services and use of assets of the business entity by others, which generate income in the form of interest, royalties and dividends. The framework and almost all IAS and IFRS refer, in part, to revenues, in terms of their: definition, origin and structure: accounting coverage. Therefore, the question can be raised whether IAS 18 is not a repetition of what other accounting standards and the Framework contain about income.

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