Academic literature on the topic '‖Revenue from Contracts with Customers‖'
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Journal articles on the topic "‖Revenue from Contracts with Customers‖"
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NASHKERSKA, Halyna. "THE EFFECTS OF IFRS 15 "REVENUE FROM CONTRACTS WITH CUSTOMERS" ON REFLECTING THE REVENUES OF ENTERPRISES FROM OPERATIONAL ACTIVITIES." Scientific Bulletin of Flight Academy. Section: Economics, Management and Law 8 (2023): 66–71. http://dx.doi.org/10.33251/2707-8620-2023-8-66-71.
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Objective. The purpose of this research is to carry out a comparative analysis of the advantages and possibility of using IFRS 15 ?Revenue from Contracts with Customers? in comparison with the accounting of revenues according to national accounting standards at Ukrainian enterprises. Methods. The main research methods were general and special scientific approaches to theoretical generalization and grouping, systematization, comparative analysis, logical generalization. Results. The application IFRS 15 ?Revenue from contracts with customers? has the potential to increase the efficiency of the process of accounting of revenues compared to as a traditional system. IFRS 15 is based on the balance sheet approach. Revenue, expenses, and income are recognized as a result of changes in the values of these assets and liabilities. The article analyzes the main characteristics of which are directly relevant for revenue recognition. They include recognition and measurement revenue, presentation and disclosure of items related to customer�s contracts. IFRS 15 has greatly extended the scope of disclosure. To achieve that an entity shall disclose qualitative and quantitative information about all of the following: its contracts with customers, the significant judgements, and changes in the judgements, any assets recognized from the costs to obtain or fulfil a contract with a customer. Scientific novelty. The author substantiates that the use of IFRS 15 ?Revenue from contracts with customers? for revenue accounting will make accounting more efficient and transparent, will ensure increases usefulness and faithfully represent information in financial statements. Practical significance. Revenue from customer�s contracts purports to be a highly reliable outcome from the company�s activities. As such it carries important confirmatory information about actual performance and useful information to forecast future revenues. Key words: revenue, contract, customers, recognition, measurement, disclosure, submission, compensation, receivables.
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PLOTNIKOV, Viktor S., and Saule S. KANAPINOVA. "The concept of accounting for contractual obligations in the accounting for revenue from contracts with customers." International Accounting 25, no. 9 (2022): 1000–1018. http://dx.doi.org/10.24891/ia.25.9.1000.
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Subject. This article discusses the possibility of using the concept of accounting for contractual obligations in the accounting for revenue from contracts with customers. Objectives. The article aims to present changes in the methodological approach to the reflection in the accounting for revenue from contracts with customers, based on the recognition of contractual obligations arising from these contracts as accounting objects and elements of financial reporting. Methods. The article defines a promising area for the development of the theory and practice of accounting related to the use of institutional theory, in terms of the contract theory, and contractual obligations arising from contracts, the Conceptual Framework for Financial Reporting, as well as the provisions of IFRS 15 – Revenue from Contracts with Customers. Conclusions. IFRS 15 – Revenue from Contracts with Customers is an additional confirmation of the use of the theoretical concept of accounting for contractual (constructive) obligations arising from past events (signing of an exchange transaction agreement) and are objects of accounting.
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Dr., Khaled Jamal Jaara, and Shaheen Al Khraisat Baraah. "The Impact of Transition to the Application of IFRS 15 Recognition of Revenue from Contracts with Customers A Case Study Jordan Telecommunication,s Company Orange." American Based Research Journal 7, no. 2 (2018): 11–23. https://doi.org/10.5281/zenodo.3445971.
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<em>The study aims to examine the effect of transition to the application of IFRS 15: recognition of revenues from contracts with customers in Jordanian telecommunications’ companies, as a case study it was conducted in Jordan Telecommunications Company (Orange) for the period between 2010-2017, The researchers re-calculated the revenue of contracts with customers retroactively, and separate the goods’ revenues from services’ revenues, also calculate the assets from contracts at the end of each interim period for the quarterly progress reports for all periods of study. A number of statistical methods were used; the most important one is descriptive statistics, the natural distribution of data and testing the study hypotheses using the multiple regression equations to identify the effect of independent variables on dependent variables. The most important result of the study showed that there is a statistically significant impact at the level of (α ≤ 0.05) for the application of IFRS 15 as measured by the services' revenue , goods' revenue, and contract assets on total revenues and owner equity, The study recommended urging the telecommunications companies working in Jordan especially Orange to apply IFRS 15 for its impact to achieve transparency in disclosure, and to increase the reliability of accounting measurement of financial reporting.</em>
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ERGÜDEN, A. Engin. "IFRS 15." International Journal of Finance & Banking Studies (2147-4486) 9, no. 1 (2020): 47–57. http://dx.doi.org/10.20525/ijfbs.v9i1.650.
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Revenue is one of the most important performance and size indicators for businesses. A new standard, which has more comprehensive and comparable feature to eliminate the deficiencies in the IFRS (International Financial Reporting Standart)-15 Revenue From Customer Contracts Standard published on 15.01.2019 and the old revenue (IAS-18 Revenue and IAS (Inernational Accounting Standarts) -11 Construction Contracts) standards to be applied in the accounting periods starting after 01.01.2018, has been introduced. The most important purpose of the standard is to eliminate the uncertainties and deficiencies in the old standards with a five-step model on important issues related to when and what amount of the revenue based on the contract with customers will be accounted.
 
 According to IFRS-15 Revenue From Customer Contracts Standard, which is applied for the accurate reporting of revenues, comprehensive analysis of the financial table footnotes of the businesses in the tourism sector concerning presentation of the records related to the revenue in the financial statements in the footnotes, the contracts placed with the customer of the enterprise, important evaluations in the application of the standard and the transaction costs incurred in the financial statements as an asset has been the scope of this study.
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Mohanty, Biraj Kumar, and Saroj Kumar Routray. "Revenue from contracts: cash vs accrual." Emerald Emerging Markets Case Studies 10, no. 4 (2020): 1–20. http://dx.doi.org/10.1108/eemcs-10-2019-0276.
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Learning outcomes The case provides an insight on the provisions of the IND AS 115 (largely converging with IFRS 15), financial impact of alternative accounting practices and dynamics of a revenue recognition decision. MBA students can use the knowledge derived from the case at their workplace when they encounter accounting of “revenue from a contract with customers”. Case overview/synopsis Saifudin Rehman, one of the promoter of Suprajeet Corporation (SUC) had been engaged in electrical installation contract business. The firm had been doing well in the field of small contracts and was having steady growth. People in the firm were also quite acquainted with the kind of contracts they were doing. However, Saifudin always wanted to get into a big contract business. For getting into big installation contracts, the corporation needed more working capital and needed to satisfy the criteria of having a high amount of turnover in the preceding year. The case will be looked into from the perspective of accounting procedure to see the possibility of increasing the revenue by changing the method of accounting in relation to revenue recognition. The case provided the opportunity to evaluate the benefits and the costs involved in changing the accounting method in SUC. Complexity academic level Commerce Graduates and MBA I. Supplementary materials Teaching notes are available for educators only. Subject code CSS 1: Accounting and Finance.
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Markus, Olga. "THE FORMATION CONCEPTUAL BASIS OF ACCOUNTING POLICY FOR DEFERRED REVENUE IN ACCORDANCE TO IFRS 15 «REVENUE FROM CONTRACTS WHITH CUSTOMERS»." Economic journal of Lesya Ukrainka Volyn National University 3, no. 27 (2021): 22–28. http://dx.doi.org/10.29038/2786-4618-2021-03-22-28.
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Abstract. The article provides a scientific justification of the methodological basis of accounting policies for deferred income and the features of their recognition over time, taking into account the requirements of IFRS 15 «Revenue from contracts whith customers». A method of recognizing revenue from contracts with customers over time is assessed, assessing progress towards full compliance with the obligation to perform. Approaches to the reflection of modifications of the contract and a significant component of financing are formalized.
 A conceptual accounting model is proposed to disclose information in the financial statements about contractual assets and liabilities. Prerequisites for harmonization of financial statements with the requirements of international standards have been formed.
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Gray, Dahli, and Ruben Torres. "Accounting for Business Combinations (Topic 805)." World Journal of Business and Management 5, no. 2 (2019): 1. http://dx.doi.org/10.5296/wjbm.v5i2.15031.
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This article discusses the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 805, as promulgated by the 2019 Accounting Standards Update (ASU) concerning Business Combinations. It focuses on revenue from contracts with customers. Several concerns regarding how and when to recognize an assumed liability after a business combination were raised by users and preparers of financial statements. Concerns emerged from the differing views on how a liability (that is, performance obligation) is defined within the FASB ASC Topic 606 regarding revenue from contracts with customers. Determining how and if a contract liability is recognized in a business combination from a revenue contract were the major concerns. This article reviews a brief history of business combinations and contracts with customers. It explores the issue from various accounting perspectives (such as financial and managerial accounting, tax accounting, governmental accounting issues, ethical implications, and international accounting). Potential questions for future research regarding this topic are presented. The 16 Comment Letters sent to the FASB are discussed. The results of a survey administered as part of this research are presented.
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Yolanda Mayusfa, Intan Nuraini Putri, and Zul Azmi. "Evaluasi Pengakuan, Pengukuran, Pengungkapan Terhadap Pendapatan Kontrak Pelanggan Menurut PSAK No. 72 di PT Guna Bangun Wisata Tahun 2021-2022." Jurnal Akuntansi Nommensen 2, no. 1 (2025): 128–34. https://doi.org/10.51622/jan.v2i1.2335.
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In the implementation of PSAK No. 72 replaces PSAK No. 23 which is PSAK No. 72 will adopt a more complete version of IFRS 15 Revenue From Contracts With Customers. PSAK No. 72 will be a single standard for revenue recognition that applies to most contracts with customers, replacing the existing accounting guidance under SAK contained in various standards. This research will be conducted at PT Guna Bangun Wisata which is a company operating in the real estate sector. The type of research used is descriptive qualitative. The company's main source of income is rental income and service charges for both standard tenants and premium tenants. The results of this research state that for the recognition and disclosure of income in the company PT In order to develop tourism without being able to implement PSAK No. 72 because PT Guna Bangun Wisata recognizes income proportionally when the tenant has signed a rental contract. However, income measurement is fully in accordance with PSAK No.72. PT Guna Bangun Wisata only measures part of the contract information with customers. Meanwhile, the presentation in PSAK No. 72 states that if the customer pays compensation, or the company has the right to the amount of unconditional compensation (receivables), before the company transfers the mutually agreed contract to the customer.
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Febriandhani, Ferry, Firas Satria Akbar, Gregorius Bagus W.P., and Ryan Syahputra. "REVENUE FROM CONTRACTS WITH CUSTOMER." Jurnal Manajemen, Bisnis dan Kewirausahaan 2, no. 2 (2022): 11–15. http://dx.doi.org/10.55606/jumbiku.v2i2.258.
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Penelitian ini bertujuan untuk menguji dampak dari pengumuman Pernyataan Standar Akuntansi Keuangan (PSAK) 72 dari sudut pandang investor melalui reaksi pasar saham yang diproksikan dengan shareholder value. Pengujian berfokus pada perusahaan sektor industri property, real estate and building contruction karena standar ini menggantikan dua standar sekaligus yang digunakan sebelumnya oleh industri ini secara spresifik, yaitu PSAK 34. Analisis penelitian ini menggunakan metode regresi dan pemilihan sampel dilakukan dengan teknik purposive sampling pada perusahaan yang terdaftar di Bursa Efek Indonesia. Hasil penelitian menunjukkan bukti empiris bahwa pengumuman PSAK 72 meningkatkan shareholder value.
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Han, Jongsoo, Minsup Song, and Yibae Kim. "IFRS 15 “Revenue from Contracts with Customers : Application of Revenue Recognition over Time in Construction Contracts." Korean Accounting Journal 27, no. 5 (2018): 261–81. http://dx.doi.org/10.24056/kaj.2018.08.002.
Full textDissertations / Theses on the topic "‖Revenue from Contracts with Customers‖"
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Tiger, Anna, and Sanna Ekman. "IFRS 15 - Revenue From Contracts With Customers : En kvantitativ undersökning gällande den nya intäktsredovisningen." Thesis, Umeå universitet, Företagsekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-105985.
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Andretta, Camilla <1995>. "IFRS 15 – Revenue from Contracts with Customers Novità e impatti del nuovo principio contabile internazionale previsto per il riconoscimento e la contabilizzazione dei ricavi." Master's Degree Thesis, Università Ca' Foscari Venezia, 2020. http://hdl.handle.net/10579/17197.
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Il 28 maggio 2014 lo IASB ha emanato un nuovo principio contabile in tema di ricavi, l’IFRS 15 – Revenue from Contracts with Customers, sostituendo e incorporando, all’interno di un unico documento, i diversi Standard preesistenti (i più rilevanti dei quali sono lo IAS 11 – Construction Contracts e lo IAS 18 – Revenue) ed eliminando così i dubbi e le incertezze, che li caratterizzavano.
L’IFRS 15 prevede una disciplina contabile unica e completa, cui le entità fanno riferimento, per il riconoscimento e la contabilizzazione dei ricavi derivanti da contratti commerciali; oggetto di questi accordi è il trasferimento, ad uno o più clienti, di beni e/o servizi, che rientrano nell'ambito delle attività ordinarie dell’entità, in cambio di un corrispettivo. Alla base dell’intera disciplina è previsto, che i ricavi vengano iscritti in bilancio per un valore pari all’ammontare, che l’entità si aspetta di ricevere come compenso per la prestazione eseguita.
Nel rispetto dell’IFRS 15, la rilevazione dei ricavi viene eseguita utilizzando un modello standardizzato, nel quale si susseguono cinque fasi obbligatorie (“Five-Step Method”).
Il nuovo Standard è entrato in vigore a partire dal 1° gennaio 2018, ma le aziende, che ne hanno manifestato la volontà, hanno potuto applicarlo prima, cioè già nei bilanci d’esercizio con data d’inizio 1° gennaio 2017.
Intento dell’elaborato è quello di descrivere i punti chiave e le principali novità introdotte dall’IFRS 15, partendo da una base concettuale di approfondimento, ricavata da ricerche bibliografiche o sitografiche, e mettendo poi in evidenza le maggiori differenze con i preesistenti principi contabili (IAS 11 e IAS 18). Nell’ultima parte dell’elaborato verrà analizzato l’impatto dell’applicazione del nuovo principio sulla gestione contabile di alcune tipologie di azienda.
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BESSA, Robson Martins. "Revenue from contracts with customers estudo explorat??rio acerca dos desafios de implanta????o do IFRS 15 em uma empresa brasileira do setor qu??mico." FECAP, 2017. http://tede.fecap.br:8080/jspui/handle/jspui/770.
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Previous issue date: 2017-12-04<br>Several are the standards that deal with revenues in international accounting. Some studies show that problems involving revenue recognition are among the most recurring in publicly traded companies' reports. The problematic studied was the accounting innovations that users of accounting information should observe, given the emergence of IFRS 15 as the new unified accounting standard in relation to current accounting standards of revenue recognition. The objective of this work is the critical analysis of the main requirements in the relevant aspects brought by the new standard in relation to the current literature on international accounting in the Brazilian environment as well as the challenges to be faced by preparers of financial statements in the adoption and adaptation of IFRS 15 in relation to what exists in the current literature in international accounting. For this group of existing norms and current transactions we denominate of "peacock tail". This research used a qualitative approach, through documentary analysis and content obtained from the financial statements of a relevant publicly traded company in the chemical sector. We sought to base the importance of the subject on accounting science through previous scientific research, practical aspects of IFRS, the basis for conclusion of the new IFRS standard 15 as well as economic aspects about the subject. We identified several challenging aspects for the company to comply with IFRS 15 and that the level of information currently disclosed does not meet the new requirements minimally. As a result, we conclude that IFRS 15 will bring many challenges and innovations to the accounting class in light of its new revenue recognition requirements and especially its disclosures.<br>Diversas s??o as normas que tratam sobre receitas em contabilidade internacional. Alguns estudos demonstram que problemas que envolvem reconhecimento de receitas est??o entre os mais recorrentes nos relat??rios das companhias de capital aberto. O problema estudado foi sobre as inova????es cont??beis que os usu??rios da informa????o cont??bil devem observar, dado o surgimento do IFRS 15 como o novo ordenamento cont??bil unificado, em rela????o ??s atuais normas cont??beis de reconhecimento de receitas. O objetivo deste trabalho ?? a an??lise cr??tica dos principais requerimentos, em seus aspectos relevantes, trazidos pela nova norma frente ?? literatura atual em contabilidade internacional no ambiente brasileiro bem como os desafios a serem enfrentados pelos preparadores de demonstra????es financeiras na ado????o e adapta????o do IFRS 15 em rela????o ao que existe na literatura atual em contabilidade internacional. A este grupo de normas e transa????es atuais n??s denominamos de ???rabo de pav??o???. Esta pesquisa utilizou-se de uma abordagem qualitativa, atrav??s de an??lise documental e de conte??do obtido das demonstra????es financeiras de uma companhia de capital aberto do setor qu??mico. Procurou-se fundamentar a import??ncia do tema ?? ci??ncia cont??bil atrav??s de pesquisas cient??ficas anteriores, aspectos pr??ticos das normas IFRS, da base de conclus??o da nova norma IFRS 15 bem como aspectos econ??micos acerca do tema. Identificamos diversos aspectos desafiadores para a empresa para atendimento ?? IFRS 15 e que o n??vel de informa????es hoje divulgadas n??o atende minimamente aos requisitos novos. Por consequ??ncia, conclu??mos que a IFRS 15 trar?? muitos desafios e inova????es ?? classe cont??bil em fun????o de seus novos requerimentos para reconhecimento de receitas e especialmente suas divulga????es.
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Jonsson, Julia, and Susanne Engborg. "Från branschspecifik till generell intäktsredovisning : en studie av hur tre svenska byggbolag påverkas av IASB:s föreslagna förändringar av intäktsredovisningen." Thesis, Linköpings universitet, Företagsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-66379.
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Bakgrund och problem: Intäkter är en viktig post i den finansiella rapporteringen för användares beslutsfattande. Dock omgärdas intäktsredovisningen av flera svårigheter gällande bedömningar av när och till vilket belopp intäkter ska redovisas. Detta är speciellt ett problem vid redovisning av uppdrag som löper över flera redovisningsperioder, vilket är vanligt i byggbranschen. IASB har haft ett förslag till en ny standard för intäktsredovisning ute på remiss och IASB:s främsta syfte är att redovisningen ska vara användbar för användare av finansiella rapporter. Införandet av en ny standard kommer att innebära förändringar i byggbolagens redovisning och därmed även användbarheten i redovisningsinformationen. Metod/Empiri: Empirin består i grunden av ett praktikfall i form av ett avtal, rörande ett bostadsprojekt som löper över två år. Tre byggbolag; NCC, PEAB samt Skanska har genom e-post- och telefonintervjuer fått resonera kring hur uppdraget i praktikfallet redovisas med nuvarande standarder för intäktsredovisning. Avslutningsvis har IASB:s föreslagna standard ‖Revenue from Contracts with Customers‖ även applicerats på uppdraget i praktikfallet. Slutsatser: Tillämpningen i praktikfallet av ‖Revenue from Contracts with Customers‖ visade att den nya standarden medför ett ökat behov av bedömningar i intäktsredovisningen. Fler bedömningar kan innebära en större osäkerhet för både redovisare och användare men den nya standarden möjliggjorde även en mer nyanserad intäktsredovisning som visar den ekonomiska verkligheten på ett mer realistiskt sätt än nuvarande redovisning. Syfte: Syftet med föreliggande uppsats är att genom ett konstruerat praktikfall analysera hur intäktsredovisningen i tre byggbolag påverkas vid tillämpningen av IASB:s ‖Revenue from Contracts with Customers‖. Studiens vidare bidrag ligger i att genom praktikfallet öka kunskapen om hur IASB:s nya föreslagna standard påverkar användbarheten i byggbolagens redovisningsinformation.
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Bošková, Tereza. "Finanční vykazovaní stavebních smluv podle ČÚS, IFRS a US GAAP." Master's thesis, Vysoká škola ekonomická v Praze, 2017. http://www.nusl.cz/ntk/nusl-360537.
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This diploma thesis deals with specifics for reporting of construction contracts in financial statements according to czech accounting regulations, IFRS and US GAAP. These are contracts that are custom-made, so they are not serial production and they are long-term, so most of their production goes into more accounting periods. In 2018, new Standards for Recognition of Revenue from contracts with customers IFRS 15 and ASC 606 will enter into force. The aim of the thesis is to characterize individual approaches to the reporting of revenues from construction contracts with a focus on the specifics in this sector and their comparison. To achieve this goal, a comparison method will be used. The thesis is divided into the theoretical and practical part. The theoretical part describes requirements and aspects related to building contracts, individual accounting standards including new revenue standards. In the practical part, an example is illustrated that shows a different approach to reporting revenue from these contracts in accordance with Czech accounting regulations and IFRS or US GAAP and comments on the changes that may occur through the application of new standards. At the end of the thesis, individual approaches are compared.
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CHENG, CHIAO-NI, and 鄭巧妮. "IFRS 15 Revenue from Contracts with Customers-A Study of its Impact and Response." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/31296150138011916946.
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碩士<br>國立臺北大學<br>會計學系<br>103<br>The revenue recognition guidance under IFRS is concentrated in two standards, IAS18 (Revenue) and IAS11 (Construction Contracts), and three related interpretations; however, this guidance has often been criticized as being difficult to understand and to apply to more complex revenue transactions. In addition, under the broad revenue recognition concepts, much industry-specific or transaction-specific guidance can result in different accounting for economically similar transactions. As far back as 2002, FASB and the IASB agreed to work together on a joint project examining revenue recognition. In 2014, the IFRS 15 Revenue from Contracts with Customers has been announced, it provides a comprehensive principle-based revenue recognition model, which would create a single revenue recognition standard to be applied to all contracts with customers.
This study is to comprehend the impact on individual interviewee after the adoption of IFRS15 and evaluate the effect and response for individual enterprise and financial report users (e.g. external investors, banks, etc.) due to future transition of the change of revenue recognition.
By industrial practical experience of conversion of IFRS15 to share their experience of evaluation process and problems during the transition, this study hopes not only to help enterprises to prepare and response in advance for the conversion of revenue recognition from IAS18 to IFRS15, but also provide a reference orientation for enterprises.
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Lo, Jui-Lan, and 羅瑞蘭. "The Significant Impacts of Taiwan Major Industries due from IFRS Exposure Draft “Revenue from Contracts with Customers”." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/73713645718560333109.
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碩士<br>國立交通大學<br>高階主管管理碩士學程<br>99<br>Financial Supervisory Commission, Taiwan had published a roadmap for Taiwan's adoption of the International Financial Reporting Standards (IFRSs) in May 2009. All listed companies and unlisted public companies will be required to prepare financial statements in accordance with IFRSs starting from 2013 and 2015, respectively. While all enterprises are implementing IFRSs, the IASB released the exposure draft of "Revenue from Contracts with Customer" (the ED) on June 24, 2010, the ED will remove inconsistencies and weaknesses in existing revenue recognition standards by providing clear principles for revenue recognition. We expect that it will have significant differences to the R.O.C. accounting standards. The study will base on researches of the ED to evaluate the significant impacts of Taiwan major industries, enterprises and financial statement users.
The study found that there are significant differences between the ED and R.O.C. accounting principles, such as the accounting treatment for sales with the right of return, product warranties, customer incentives, customer loyalty programs, and sales with customer credit risk, etc. In addition, the ED withdrawal the percentage of completion method, and a similar revenue recognition outcome may arise under the ED if control of the constructed asset is transferred to the customer continuously, so the new principle will raise a significant change for revenue recognition to building and construction industry. While enterprises implement the new standards, they must be positive, corporate social responsibility approach, and the all management must fully understand their business model and its economic substance, re-evaluate and integrate the information system, not only for financial statement preparations in accordance with IFRSs, also to enhance the management efficiency. And for financial statement users, they should have abilities to interpret and evaluate management’s attitude for making judgments and estimates though reading the financial statements.
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Makhaya, Siphamandla Nkosinathi. "An analysis of income tax implications from the transfer of professional soccer players." Thesis, 2014. http://hdl.handle.net/10210/9578.
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M.Com. (SA & International Taxation )<br>Players’ contracts in sports are assets for the professional clubs. Like any other assets, these contracts could be sold to other clubs, locally or internationally, at a fee. The South African Revenue Service has issued a “Draft guide on the taxation of professional sports clubs and players” (hereafter the Guide). This Guide was issued as a draft in 2010 and had not been finalised at the time of the completion of this dissertation. Using a doctrinal research methodology, which includes a systematic exposition of the Guide by using the Income Tax Act 58 of 1962 (hereafter the Act), case law and the other appropriate literature, this study is aimed at interpretatively reviewing the contents of this Guide, specifically the section of the Guide that deals with the income tax implications arising from the transfer of players. The review of the Guide revealed that the Guide is technically incorrect in certain aspects. For instance, the definition of “asset” per the Eighth Schedule of the Act was incorrectly cited to specifically exclude trading stock. In addition, the Guide has excluded from its scope transactions between residents and non-resident clubs and players. Furthermore, the Guide did not deal with all aspects relating to player transfers, such as player swops and third party ownership of player rights. In some instances, the Guide was found to be ambiguous, especially in dealing with free transfers. The study has found that the transfer fees could either be included in gross income or be subject to capital gains tax for the transferor club, depending on whether their nature was revenue or capital. The deciding factor was determined to be the intention of the transferor club at the time of transfer of the player rights. Where the intention of a transferor club is to enter into a profit-making scheme, the transfer fees would be revenue in nature and included in gross income in terms of s 1 of the Act (Elandsheuwel Farming (Edms) Bpk v SBI, 39 SATC 163). Where the intention of a transferor club is to use the player as income-producing asset, then the transfer fees would be capital in nature, and be subject to capital gains tax. For the transferee club, it was determined that the player is usually acquired to bring to the club an advantage of the enduring benefit (British Insulated and Helsby Cables v Atherton 1926 A.C. 205). This therefore implies that the transferee club would not be able to claim the deduction under s 11(a) of the Act. The study will be useful to the sports clubs as it provides a comprehensive guide on the income tax treatment of player transfers.
Books on the topic "‖Revenue from Contracts with Customers‖"
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Office, General Accounting. Tax administration: Factors affecting results from audits of large corporations : report to the Commissioner, Internal Revenue Service. The Office, 1997.
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Analyst, San Francisco (Calif ). Board of Supervisors Budget. Revenue received by the city from the agreements with telephone companies for pay telephones on public property. The Analyst, 1997.
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United States. Internal Revenue Service., ed. Tax administration: Lessons learned from IRS' initial experience in redeploying employees : report to the Honorable Margaret Milner Richardson, Commissioner of Internal Revenue. The Office, 1997.
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Office, General Accounting. Tax administration: Lessons learned from IRS' initial experience in redeploying employees : report to the Honorable Margaret Milner Richardson, Commissioner of Internal Revenue. The Office, 1997.
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Office, General Accounting. Tax Administration: Most taxpayers believe they benefit from paid tax preparers, but oversight for IRS is a challenge : report to the Committee on Finance, U.S. Senate. GAO, 2003.
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Office, General Accounting. Financial management: Assessment of the airline industry's estimated losses arising from the events of September 11. United States General Accounting Office, 2001.
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Singh, C. A. Ambalika. Welcoming the New Revenue Recognition Standard: ASC 606 - Revenue from Contracts with Customers. Independently Published, 2018.
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Singh, Ambalika. Welcoming the New Revenue Recognition Standard: Ind AS 115 - Revenue from Contracts with Customers. Independently Published, 2019.
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Singh, C. A. Ambalika. Welcoming the New Revenue Recognition Standard: Ind AS 115 Revenue from Contracts with Customers. Independently Published, 2018.
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Singh, Ambalika. Welcoming the New Revenue Recognition Standard: Asc 606 Revenue from Contracts with Customers Second Edition. Independently Published, 2019.
Find full textBook chapters on the topic "‖Revenue from Contracts with Customers‖"
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Brune, Jens W. "Kommentar zum IFRS 15 – Revenue from Contracts with Customers." In Internationale Rechnungslegung – IFRS. Springer Fachmedien Wiesbaden, 2021. http://dx.doi.org/10.1007/978-3-658-11118-2_40-1.
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Stebner, Evelin. "Ausblick auf den neuen IFRS-Standard "Revenue from Contracts with Customers"." In Gewinnrealisierung im deutschen Schiffbau. Springer Fachmedien Wiesbaden, 2013. http://dx.doi.org/10.1007/978-3-658-04557-9_4.
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Khresat, Ola, Mohammad Mahmoud Abu Hasan, Abdwhab Arawashdeh, Suhad Jaradat, and AymanZereban. "The Impact of Applying the International Financial Reporting Standard “IFRS15 - Revenue from Contracts with Customers” on Accounting Conservatism and the Mediating Role of Net Assets: Acase Study of Jordan Telecom Company Orange." In Artificial Intelligence (AI) and Finance. Springer Nature Switzerland, 2023. http://dx.doi.org/10.1007/978-3-031-39158-3_53.
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Abdo, Ahmed Abdullah khalil, Nahla Mohamed Elsayed Ibrahim, Mahmoud Mohamed Elsayed Ibrahim, and Abdalwali Lutfi. "Effect of Adopting the Criterion of Revenue from Contracts with Clients on Accounting Conservatism." In Artificial Intelligence for Sustainable Finance and Sustainable Technology. Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-93464-4_6.
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McCurdy, Howard E. "Orbital Sciences: The Challenge of Breaking Away from Government Contracts as a Source of Revenue Flow." In Financing the New Space Industry. Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-32292-2_10.
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Cui, Shiliang, Zhongbin Wang, and Luyi Yang. "Line-Sitting Services." In Innovative Priority Mechanisms in Service Operations. Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-30841-3_3.
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AbstractWaiting in line is a common yet disagreeable experience for customers seeking service, and the desire to bypass a long line has spawned the innovative practice of line-sitting—instead of joining the queue themselves, customers can hire surrogates to stand in line on behalf of them. These surrogates are referred to as line-sitters. They enter queues upon customer requests, and unlike true customers they sit in line not for the underlying service that customers are waiting for but for monetary gains from those who are willing to pay to avoid waiting. The line-sitters can notify customers through text messaging or a mobile app when they move close to the front of the line. As a result, the hiring customer can simply show up to take the line-sitter’s spot when the service is about to start. In this chapter, we present a model of line-sitting and show that it can increase the social welfare or revenue of the service provider over a first-in-first-out (FIFO) policy. This chapter is primarily based on Cui et al. (Manag Sci 66(1):227–242, 2020) and Wang and Wang (Oper Res Lett 47(5):447–451, 2019) where interested readers can find proofs of the findings shown in this chapter.
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Cui, Shiliang, Zhongbin Wang, and Luyi Yang. "Distance-Based Service Priority." In Innovative Priority Mechanisms in Service Operations. Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-30841-3_6.
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AbstractObtaining a service usually comes with both rewards and costs. For example, dining at a popular restaurant provides customers with a pleasant dining experience, but also incurs costs to them. The costs include the direct service charge that customers have to pay to receive the service (the meal cost) and indirect hassle costs such as going to the restaurant and waiting in line for the service. When the service reward is too low or the service fee is too high, customers will be less likely interested in the service. The same happens when the hassle cost of seeking service is too high, which is especially true when customers must travel a long distance to obtain a service that tends to have cumbersome wait times. It is without question that increasing the number of customers being served (i.e. system throughput) is critical for service providers, as it translates directly into service revenue in the case of a for-profit company and service provision in the case of a non-profit organization. Therefore, how may service providers incentivize customers located far away from the service location to seek service? In this chapter, we introduce an innovative but natural distance-based service priority mechanism to help service providers increase their system throughput. The idea is to assign higher service priority to customers who have to travel farther for the service, thus giving them with new incentives to consider using the service. We shall demonstrate, among other results, that such a mechanism can significantly increase system throughput by attracting more customers to use the service, and the increase can be up to 50% compared to the ordinary first-come-first-served service discipline. This chapter is primarily based on Wang et al. (Manuf Serv Oper Manag, 25(1), 353–369, 2023) where interested readers can find proofs of the findings shown in this chapter.
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McCulloch, Jock, and Pavla Miller. "Tuberculosis and Migrant Labour in the High Commission Territories: Bechuanaland: 1885–1998." In Mining Gold and Manufacturing Ignorance. Springer Nature Singapore, 2023. http://dx.doi.org/10.1007/978-981-19-8327-6_8.
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AbstractBritain acquired the High Commission Territories (HCTs) of Bechuanaland, Basutoland and Swaziland largely as a result of conflict with the Boer Republics around the turn of the twentieth century. The Territories were poor, had dispersed rural populations and few natural resources. Britain administered the HCTs on the principle that expenditure should not exceed the revenue obtained through taxation and made little investment in basic services and infrastructure. Generating sufficient revenue was a constant problem. The HCTs were starved of funds for essential services, and they soon became dependent upon the revenue from contracting labour to the gold mines. Selling migrant labour, however, came at a cost. From as early as 1912, the annual medical reports from the three Territories suggested that the mines were spreading tuberculosis into vulnerable populations. Medical repatriations were one of the obvious costs of a system in which a physical elite travelled south and, having served their contracts, returned home seriously ill. This chapter examines the interplay between colonial taxation, oscillating migration to the gold mines, the poverty of local communities and the emergent TB epidemic in Bechuanaland. The imposition and subsequent lifting of the ban on the recruitment of tropical labour and continuing tensions over recruiting at local and governmental levels are then linked to the developments of the medical system and compensation regimes.
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Dent, Benjamin, and Ray Collins. "Our approach to value chain thinking and analysis." In A manual for agribusiness value chain analysis in developing countries. CABI, 2021. http://dx.doi.org/10.1079/9781789249361.0001.
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Abstract This paper introduces a new approach: Value Chain Thinking or VCT. VCT involves chain members collaborating to understand, create, deliver and share value as defined by shoppers and consumers. The aim of collaboration is that the value chain improves its effectivenes(maximising the opportunities for creating value) and its efficiency (creating and delivering that value at least cost and with minimum wastage). In this way, collaboration increases the size of the pie, and so chain members collectively can increase the size of each of their own slices without needing to reduce someone else's. VCT increases chain members' incomes by sharing the higher returns which come from: (1) Increasing revenue into the chain through understanding market opportunities, and cooperating to focus on creating and delivering what these opportunities require; (2) Reducing waste by tracing and tackling the root causes of waste across the chain; and (3) Everyone being a better supplier to their customers (more reliable and more consistent), and so avoiding the need to compete with other suppliers on price alone. The paper also provides case studies on which VCT can be applied and also tips on how to apply this new approach.
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Crowe, Jonathan, and Tony Bradshaw. "Revenue from contracts with customers." In Financial Accounting, Reporting & Analysis. Oxford University Press, 2017. http://dx.doi.org/10.1093/hebz/9780198745310.003.0010.
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This chapter explores the accounting requirements of IFRS 15, Revenue from Contracts with Customers. It considers the application of the accounting methods for revenue recognition and measurement set out in financial reporting standard IFRS 15. The chapter explores the significance of revenue reporting to businesses and their users and the issues inherent with this. The inadequacies of accounting for revenue under IASs 18 and 11 are also exposed. Most of the chapter is devoted to the exposition of the principles for accounting for revenue under IFRS 15, such as the identification of the contract, determination of the transaction price, and the impact of IFRS 15, among others.
Conference papers on the topic "‖Revenue from Contracts with Customers‖"
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Davis, Jeff. "Maintenance Coats: How to Increase Your Profitability." In Paint and Coatings Expo (PACE) 2007. SSPC, 2007. https://doi.org/10.5006/s2007-00020.
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Abstract Residential contractors who focus on becoming a service business can bring in ongoing revenue from existing customers through regularly scheduled maintenance coats. Every contractor should have a long-range system for tracking maintenance due dates, notifying customers and even set-up maintenance contracts to gain pre-approval of future work. By proactively contacting customers for maintenance, residential contractors are providing a valuable service while at the same time laying the groundwork for increased profitability. A contractor’s best customer is his current customer. Acquiring new business is difficult and uncertain. To gain first-time customers, you may rely on referrals that never come, bids that are never considered or that simply lose out to competitors, expensive advertising, or sporadic drive-by business. On the other hand, you have already earned the trust of the current customers who are happy with your work. You shouldn’t need to convince them to call on you for their next painting job. You should, however, consistently look for reasons to return to your current customers even before they contact you.
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Ahmed, Shakeel, Bahram Bahram, Sameer Razzaq, Dilan Dost, and Mehtab Ali. "Developing a PLS-SEM Model to Identify Risk Management Strategies in Construction Contracts: A Case Study in Public Sector Construction of Pakistan." In 14th International Civil Engineering Conference. Trans Tech Publications Ltd, 2025. https://doi.org/10.4028/p-mcn3wd.
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Political unpredictability, environmental hazards, technological constraints, economic volatility, and regulatory barriers are a few difficulties facing Pakistan's public sector construction industry. These elements, together with inadequate infrastructure, have made it extremely difficult to guarantee the success of projects. The complex nature of hazards in this industry is frequently overlooked by existing models and tactics, despite the crucial role that efficient risk management plays in reducing these difficulties. Traditional methods do not capture The complexity involved well, increasing the likelihood of project failure. A structural equation modelling technique that enables the estimate of intricate cause-and-effect linkages in route models with latent variables is partial least squares path modelling, also known as partial least squares structural equation modelling (PLS-PM, PLS-SEM). Data from an 82-person questionnaire survey with G Power taking effect size (0.3), alpha error (0.05), and beta error (0.88) were analyzed using PLS-SEM. The participants included customers, contractors, and consultants involved in public sector building projects in Pakistan. The findings indicated that the model's goodness of fit index is 0.405. Since the coefficient of determination test (R2) of the produced model yielded an analysis result of 0.713, indicating a considerable explanation of the link between the causes of risks and their impacts on project success, the developed model was considered to fit. Project management, feasibility study design, and resource material availability are the internal risk categories most affected. Security, economic, and political factors are the primary components of foreign risk. Based on expert and statistical validation testing, the developed risk factor model successfully explained how risk variables affect construction project success.
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Pavić, Ivana, Ivana Mamić Sačer, and Lajoš Žager. "Challenges, Advantages and Disadvantages in Implementation of Ifrs 15 in Different Industries." In 2nd International Conference on Business, Management and Finance. Acavent, 2019. http://dx.doi.org/10.33422/2nd.icbmf.2019.11.769.
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The accounting rules related to revenues’ recognition and measurement have not been changed for many years, and have been listed in International Accounting Standard 18 – Revenues, which has been in use since 1984. Practice has shown that the standard is no longer an adequate basis for revenue recognition and therefore the International Accounting Standards Board (IASB) in cooperation with American FASB has created and published a new accounting standard that addresses the issue of revenue recognition – IFRS 15 – Revenues from Contracts with Customers. This standard supersedes the application of IAS 18 as of January 1, 2018. Since revenue is a very important element in determining the profit or loss of an entity and therefore its performance, preparers of financial statements should pay full attention to accounting principles related to revenues’ recognition and measurement while preparing financial statements. New accounting standard for revenues introduces certain innovations in the field of revenue calculation as well as in time of revenues’ recognition. These changes will have a significant impact on the amount of revenues for certain industries, such as the telecommunications and construction industry, which have significant share of revenues from contracts with customers. The aim of the research is to identify the challenges and problems that appears in the initial phase of application of a new standard on revenues such as; the need to consider a larger volume of documentation, inadequate existing IT infrastructure, multiple sources of documentation that must be considered in revenue recognition, including commercial, legal and financial documentation etc. In addition, we plan to identify benefits form the application of the new standard for the entities preparing the financial statements. In this context, it is expected to identify the sectors that have the most dilemmas in the application of this standard and to propose potential solutions to address these problems.
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Vrchota, Stephen. "Restructuring Plant Operations and Contracts to Make a First Generation RDF Plant Competitive in a Cost-Driven Market." In 20th Annual North American Waste-to-Energy Conference. American Society of Mechanical Engineers, 2012. http://dx.doi.org/10.1115/nawtec20-7029.
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In 1989, United Power Association (now Great River Energy) and Northern States Power (now Xcel Energy) formed a partnership and entered a 20 year contract with five local counties to turn MSW (municipal solid waste) into RDF (Refuse Derived Fuel) and combust the RDF in converted grate-fired boilers in Elk River, MN. Great River Energy owned and operated the Energy Recovery Station (ERS) and Xcel Energy operated the Resource Processing Plant (RPP) a few miles away. The Resource Processing Plant processed 400,000 tons/year of MSW into RDF for the Energy Recovery Station and other RDF plants owned by Xcel Energy. The project was successful, but required significant subsidies from the counties to maintain competitive tipping fees. At the end of the original 20 year contract, a number of the counties wanted to reduce or end any subsidies and restructure the contracts. In the fall of 2009, lack of contracted MSW created difficult financial conditions that threatened to end the project and divert 400,000 tons/year of MSW to area landfills. In May of 2010, Great River Energy purchased the Resource Processing Plant and reorganized the project to be able to better control operating costs and maintain competitive electric rates for its customers. In 2011, Great River Energy restructured processing contracts with three of the original counties and also directly contracted with the regional MSW haulers while implementing sweeping changes in the processing of MSW. A cleaning system was installed to increase the value of the ferrous material collected during the production of RDF. The installation of a bulky waste shredder and processing changes increased the efficiency of converting MSW to RDF. In addition, the recovery of non-ferrous materials from the MSW and heavy residue was optimized. In one year of operation, the Resource Processing Plant has increased RDF production from 84% to over 95% and decreased landfilling to near zero while increasing the revenue from recovered materials. County subsidies have been significantly reduced and will phase out after 2015, tipping fees have been adjusted to be competitive with local landfills, and electric costs have been stabilized at comparable renewable energy rates.
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Harisandy, Mehi Zulqaida, and Diana Purwitasari. "Forecasting Revenue from Electricity Sales of Household Customers using Various Methods." In 2022 6th International Conference on Information Technology, Information Systems and Electrical Engineering (ICITISEE). IEEE, 2022. http://dx.doi.org/10.1109/icitisee57756.2022.10057941.
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Obakhena, O. F., T. G. Biambo, J. Alli-Oluwafuyi, and C. Ikiliagwu. "Alpha-28 FastTrack Maturation to Execution – Securing Export Gas Supply." In SPE Nigeria Annual International Conference and Exhibition. SPE, 2023. http://dx.doi.org/10.2118/217168-ms.
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Abstract In the global aspiration to meet an ever-increasing energy demand, fossil fuel and indeed natural gas plays a vital role both in energy security and energy transition. Natural gas is also a key driver of industrialization, a requirement for national growth and development. In the Niger Delta, problems with security & sabotage of hydrocarbon liquid evacuation pipelines as well as slippages in gas drilling projects has also led to shortages in gas supply, creating challenges in meeting contractual obligations to customers with attendant loss of revenue in a high oil & gas price regime. To harness Nigeria huge gas reserve in the current business climate, it is pertinent to arrest declining gas production caused by aging reservoirs & maximize utility of available ullage by accelerating maturation of gas resources. Quickly maturing a gas resource to market has become very important to meet contract shortfalls in the short term and to comply with the recent call for sustainable greener and cleaner energy for environmental reasons on a long term. Typically, the maturation and development of a gas project/well takes a minimum of two (2) years from identification to execution. Maturation of Alpha-28 well in the Alpha field, a brown field Niger Delta, Nigeria, took about 12 months from identification to execution. This was achieved by adopting a non-conventional project maturation. This leaner approach, which did not lose any aspect of the project assurance intents of the conventional approach, involved proper framing, risk assessment, scaling, flexibility, and proactive engagement of all relevant stakeholders to ensure alignment. This paper discusses what was done differently, the how and the learnings that are planned to be incorporated into future similar projects.
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Wang, Junyan, and Yuhua Zhang. "Assembly Systems Coordinated by Revenue-Sharing Contracts in a Fuzzy Environment." In ASME 2007 International Mechanical Engineering Congress and Exposition. ASMEDC, 2007. http://dx.doi.org/10.1115/imece2007-41388.
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From an industry and organization point of view, this paper considers the assembly systems with one assembler and multi-manufacturer under a revenue-sharing contract in a fuzzy environment which will contribute new insights to the engineering management. Market demand and assembler’s assemble capacity are characterized as fuzzy variables, respectively. Game theory is used to analyze the behavior of the members in the assembly systems. Both non-cooperative game and cooperative game models between the assembler and manufacturers are constructed. The coalition optimal solution of cooperative game model is obtained. The property of the contract is proved. Finally, the two kinds of settings are compared. The conclusion proposed is convenient to refer by the decision maker in engineering management.
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Nomeer, Mohamed. "Intelligent Energy Platform." In International Petroleum Technology Conference. IPTC, 2021. http://dx.doi.org/10.2523/iptc-21252-ms.
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Abstract Turning an organization to an effective data driven decision making is vital factor to have and achieve digital transformation journey smoothly and successfully in the Energy sector, in which the energy industry has been trying to achieve the complete cycle Listen, Understand, effect and Decide rightly and quickly across the whole value chain such as HR, Finance, legal and contracts, operations, etc. since several decades where the software solutions were not in the priority list of the industry special the operations for many reasons, which created a serious of concequences which the industry is suffering from now such as listening carefully to the operations, understand the exact needs no matter how much we might save even if it’s 1 USD or 1 minute but do it correctly first time will save hours and millions later, silos in the organizations, distracted technologies not integrated, limitation of the technologies capabilities, people skills and compenetencies and the expectation the has been always set wrongly didn't support the industry to have organization reliance, security, safety, service quality and loyalty and reduce time and cost. With the current unprecedented crisis which are the COVID-19 and the massive oil crisis bundled together have created disturbance across the whole Energy industry which impacted the whole value chain not only for the Energy industry not the rest of the industries dramatically. The Panademic affect the whole key processes that the people used to for the last several decades, but the most important thing is change management process or manage to change process approach which is completely changed and from my opinion since years came true. Having the disruptive technologies will support the whole industry to come back much stronger than before as proven in other industries such as Aerospace and Defense, Telecome, Automative, Banking etc. The Intelligent Energy Platform focus on achieving what they couldn't achieve in the last decades through unique a approach towards the whole complete cycle Listen, Understand, effect and Decide, through developing and design a subway map for the whole workflows across the whole industry value chain integrating all the data sources together, by studying and remapping the whole processes, answering key four questions for each process, activity and tasks who, where, what and why, empowered machine learning with algorithms that will achieve the automation through digitizing and standardizing over a cognitive environment. There are several key pillars to get the digital transformation journey successfully and smoothly happening from my experience in the field operations, engineering, business, marketing and sales; Know and be clear on the end goal, which the Intelligent Energy Platform will include; select the right team from all the key stakholders, felexible and adoptable to change during the journey, tackle the exact needs for every process, activity and tasks, the power to change and update the solution at any given time, strong learning system, etc. In addition there are complimentary and network tool which is empowering the Intelligent Energy Platform that will expedite and support the journey massively, which is an advanced Infinity unique communication tool which is empower by all disruptive technology that will allow as an example all field engineers and management to be in one free Infinity business communication ' chatting' constructive and organize powered by disruptive solution where an example the engineer in a field and the operations has stopped for spare parts, equipment, machine, tool, etc. so he/she will send a normal message over our Infinity chatting app through the mobile or tablet and automatically this app will do a quick research in the back system, and display where it's available if it's within the country in another field, company, workshop, hence the engineer will click on the intended target, then automatically will go to the right approvals to approve on fly though the mobile or tablet, this will impact the performance of the operations massively and drop the non-productive time heavily by 20-30% and generate new business revenue in which few companies who are not utilizing all there equipment can rent to other sister companies and get revenue out of instead of just being in the workshop without any useful usage or productivity, it won’t stop by that only but will go to the contracts, legal, HR, etc. After implementing the solution and look to our demand graph, this free, perfect and instant unique communication app will allow the company immediately to see huge improvement on organization resilience which will reduce the time taken for any such request mentioned above from months to few days, organization will be more efficient, reduce cost by millions and millions meanwhile generate new business revenue by millions a well, enhance service customers loyalty and experience, improve decision making process, safety and security. this will impact directly the consumer surplus where the consumers who will be in this case the engineers will be willing to pay the gap based on the market preference and also avoiding the dead loss where the company will be financially and operationally more efficient. Not only that also transforming on people how they are communication through exchanging quickly photos expressing what they want to say, getting the attention quickly, make things faster in terms of decision that need to be taken through friends, families, and sometimes business as well with limitation. Digital is the only recourse and last hope for this industry to get out of its repeated pitfalls in the last decade and Intelligent Energy Platform will allow the industry and the whole value chain to be effectively integrated, tackle all the needs and requirements through Listen, understand, effect and decide to achieve a significant results, generate new jobs and roles and also will allow the industry to upturn again quickly and be able to face the upcoming expected and unexpected crisis. It's clear that the big players in the Energy industry are struggling because of several reasons but the most important factor is the digital path and develop digital solutions and one of the main issues is setting the right expectation which is related to the organizations, expectation and the experience across the whole ecosystem such operators, partners, vendors, etc. our Intelligent Energy Platform is focus on introducing an end-to-end platform solution focus on organization resilience, integrated technology, and completely agile complement by free, profit and instant app such as an infinity unique secured communication app, sharing experience business app, that focus on getting more and more networks to attract thousands and thousands of users and regain the trust and loyalty again in the industry. The unique secured communication app within the Intelligent Energy Platform which is n-sided with the engineers, service companies, management and business team will be zero-price quite close to the YouTube approach in terms of pricing strategy where it will be connecting n-sided with zero price and when it will expand it might be with negative price as well in which will allow 2/ 3 sided and even more to attract more users within the industries and enhance the service loyalty and quality, achieve one of the complex objective organization reliance, optimize performance, decision making and turn to data drive organization successfully and smoothly. Developing the Intelligent energy platform will allow our team to lead the platform approach in the Energy industry differently through free, profit and instant approach which will attract huge number of users who are looking for opportunities to gain the trust, loyalty again and feel secured. this will upturn the companies not only to find their ways throught the right approach but creating and developing new jobs and roles across the whole industry accompaniment significant contribution to the market revenue and profit.
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Seidenstricker, Sven, and Vinzenz Krause. "Making customers successful: Customer Success Management a new management approach." In 14th International Conference on Applied Human Factors and Ergonomics (AHFE 2023). AHFE International, 2023. http://dx.doi.org/10.54941/ahfe1003901.
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Especially in times of crisis, as we are currently experiencing, it becomes clear which trends in marketing remain a buzzword and fade away, and which succeed in business and academic application. Customer Success Management (CSM) has transformed from such a phrase into the latest transformation of customer man-agement practice, even providing approaches for overcoming the downsides of the economic crisis. Originating in the software-as-a-service (SaaS) industry, CSM emerged when service providers in the business-to-business landscape no-ticed difficulty succeeding with their recurring revenue models based on sub-scriptions. Recurring revenue models promise great benefits, as selling compa-nies can ensure a continuous flow of revenue from their customers. However, this business model also reduces switching barriers, which leads to higher churn rates if customers are not satisfied with the provider's service. Since customer acquisi-tion tends to be more expensive than the value received by the provider after the first period of use, a firm loses significant revenue through early customer churns. To overcome these issues and reduce churn, vendors need to shift their focus from selling just product features to proactively selling Customer Value and focus on the customer outcome of usage. This is where CSM gains its rele-vance. Today, many well-known service suppliers (such as Microsoft, Cisco, and Hitachi) have built up customer success capabilities in business markets. The aim of CSM is not only to make the customer satisfied, but to enable and support them to make their customers successful. This requires a change in organizational structure and introduction of a previously unknown role. The role of Customer Success Manager is one of the jobs of the future and there are hundreds of thou-sands of job advertisements. CSM is also establishing itself in research. In this paper, we have studied the possible preliminary knowledge areas. We have in-vestigated which approaches, methods and instruments CSM uses and from which research areas, if any, it has been derived. The article attempts to fill this research gap and aims at contributing to a growing body of literature. From a methodological perspective, we conduct a systematic-based literature review to examine the broader customer relationship literature. Since CSM lacks a concep-tual foundation, the literature review guarantees to fully encompass the research field and to identify related topics and their most important concepts. This ap-proach is intended to illustrate why CSM is new and an evolution in business research. CSM combines many aspects of different research disciplines. Some approaches are adapted to the new framework. Some methods and scores will continue to be used. But new tools are also being added. We would like to present where there are overlapping areas from adjacent research disciplines of market-ing, sales, innovation management, customer centricity and service management. After systematically reviewing the neighboring research areas, we summarize CSM. We show which additional approaches have been added and why CSM is not just the further development of existing research areas, but really a new re-search area. Finally, we briefly discuss some of the main research questions in CSM.
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Kvíčala, Daniel, and Halina Starzyczná. "Customer Buying Behaviour in International E-commerce through Empirical E-shop Data." In Seventh International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2021. http://dx.doi.org/10.31410/limen.s.p.2021.121.
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The article deals with customer e-loyalty. The main objective of the research was to investigate customer buying behaviour, hence customer e-loyalty in e-commerce, and the implications of this for e-shops. Specifically, it concerns how customers behave at e-shops, how often they buy from the e-shops and what kind of revenue they bring to the e-shops. First, the theoretical background of the research is presented, based on some studies. The theoretical discussion proceeds from the broader context of loyalty. The core of the theory is e-loyalty. Secondary research and its results are then characterized. The subject of the research is the analysis of empirical e-shop data related to the manifestations of behavioural e-loyalty. Indicators informing about the proportion of loyal customers on the main variables of interest, concerning the total number of all customers, the number of visits to the e-shop, the number of transactions and the sales volume, were evaluated. Also, the subject of the research is a company operating e-shops in selected countries and its customers. The research covers a total of 13,418 customers. The results obtained contradict the claims of some authors that e-loyalty is one of the key factors for the success of e-shops and that e-loyal customers generate a substantial part of the volume of purchases and sales.
Reports on the topic "‖Revenue from Contracts with Customers‖"
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Hasanov, Fakhri, Heyran Aliyeva, Majed Almozaini, and Carlo Andrea Bollino. Extended KGEMM’s Emission Block With Carbon Pricing. King Abdullah Petroleum Studies and Research Center, 2024. http://dx.doi.org/10.30573/ks--2024-mp01.
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This methodological work develops a representation of carbon pricing through the KAPSARC Global Energy Macroeconometric Model (KGEMM). This representation makes two principal contributions in terms of model capabilities: establishing a feedback link from the emissions block to the energy block and connecting the emissions block to the fiscal block, as the government collects revenue from the carbon dioxide emitted by customers / sectors.
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Flandreau, Marc, Stefano Pietrosanti, and Carlotta Schuster. Why do Sovereign Borrowers Post Collateral? Evidence from the 19th Century. Institute for New Economic Thinking Working Paper Series, 2021. http://dx.doi.org/10.36687/inetwp167.
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This paper explores the reasons why sovereign borrowers post collateral. Such behavior is paradoxical because conventional interpretations of collateral stress repossession of the assets pledged as the key to securing lenders against information asymmetries and moral hazard. However, repossession is generally difficult in the case of sovereign debt and in some cases impossible. Nevertheless, such sovereign “hypothecations” have a long history and are again becoming very popular today in developing countries. To explain sovereign collateralization, we emphasize an informational channel. Posting collateral produces information on opaque borrowers by displaying borrowers’ behavior and resources. We support this interpretation by examining the hypothecation “mania” of 1849-1875, when sovereigns borrowing in the London Stock Exchange pledged all kinds of intangible revenues. Yet, at that time, sovereign immunity fully protected both sovereigns and their assets and possessions. Still, we show that hypothecations significantly decreased the cost of sovereign debt. To explain how, we stress the pledges’ role in documenting sovereigns’ wealth and the management of revenue streams. Based on an exhaustive library of bond prospectuses collected from primary sources, matched with a panel of sovereign bond yields and an innovative measure of sovereign fiscal transparency, we show that collateral minutely described in debt covenants served to document and monitor sovereign resources and development prospects. Encasing this information in contracts written by lawyers served to certify the quality of the resulting data disclosure process, explaining investors’ readiness to pay a premium.
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Gandelman, Néstor, Flavia Roldán, and Sofía Viera. An Examination of Numerical Portability in Mobile Communication in Uruguay. Inter-American Development Bank, 2025. https://doi.org/10.18235/0013380.
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This paper examines the effects of the introduction of mobile number portability (MNP) using data from Uruguay. MNP allows customers to switch mobile providers while retaining their phone number, thereby reducing switching costs and potentially enhancing competition. Our analysis reveals that firms responded by increasing the share of postpaid contracts, partially countering the exogenous reduction in switching costs with new endogenous barriers. We find that while market concentration increased in terms of subscriber share, it decreased for data traffic, reflecting differing customer behaviors and firms' commercial strategies. Additionally, we observed reductions in mobile data prices and an increase in new mobile subscribers, suggesting that MNP contributed to overall market growth. Using a world panel of data prices for the internet we find that MNP is associated with lower prices in the range of 42-50 percent.
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Megersa, Kelbesa, Ludovic Bernad, Yves Nsengiyumva, Benjamin Byinshi, Naphtal Hakizimana, and Fabrizio Santoro. Digital Merchant Payments as a Medium of Tax Compliance: RiB 87. Institute of Development Studies, 2023. http://dx.doi.org/10.19088/ictd.2023.028.
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Digital merchant payments – transactions between traders, or between traders and customers using digital means of payment – can promote tax compliance by providing access to safer, quicker formal payments for consumers, and leaving a digital trail of sales data that can be accessed by tax administration. This study examines how far the potential of digital merchant payments to increase tax compliance is being realised in Rwanda, and whether fees imposed by mobile network operators on digital financial services (DFS) can hinder both DFS adoption and tax compliance. It uses original survey data from 1,100 merchants country-wide, administrative data from the Rwanda Revenue Authority (RRA), focus group discussions and in-depth interviews. Rwanda is an interesting context in which to study digital merchant payments, as these are expected to reach 80 per cent of GDP by 2024.1 Particularly popular are mobile money payments, performed either through the person-to-business payment option MoMo Pay or through standard personal accounts. The country’s commitment to creating a cashless economy was accelerated due to the COVID-19 pandemic. Summary of Working Paper 159.
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Niles, John S., and J. M. Pogodzinski. Steps to Supplement Park-and-Ride Public Transit Access with Ride-and-Ride Shuttles. Mineta Transportation Institute, 2021. http://dx.doi.org/10.31979/mti.2021.1950.
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Public transit ridership in California declined in the five years before the pandemic of 2020–21 and dropped significantly further after the pandemic began. A sharp downward step in the level of transit boarding occurred after February 2020, and continues to the date of this report as a result of the public-health guidance on social distancing, expanded work-at-home, and a travel mode shift from public transit to private cars. A critical issue has come to the foreground of public transportation policy, namely, how to increase the quality and geographic reach of transit service to better serve the essential trips of mobility disadvantaged citizens who do not have access to private vehicle travel. The research focus of this report is an examination of the circumstances where fixed route bus route service could cost-effectively be replaced by on-demand microtransit, with equivalent overall zone-level efficiency and a higher quality of complete trip service. Research methods were reviews of documented agency experience, execution of simple simulations, and sketch-level analysis of 2019 performance reported in the National Transit Database. Available evidence is encouraging and suggestive, but not conclusive. The research found that substitutions of flexible microtransit for fixed route buses are already being piloted across the U.S., with promising performance results. The findings imply that action steps could be taken in California to expand and refine an emphasis on general purpose microtransit in corridors and zones with a relatively high fraction of potential travelers who are mobility disadvantaged, and where traditional bus routes are capturing fewer than 15 boardings per vehicle hour. To be sufficiently productive as fixed route replacements, microtransit service technologies in the same or larger zones need to be capable of achieving vehicle boardings of five per hour, a challenge worth addressing with technology applications. Delivery of microtransit service can be undertaken through contracts with a growing set of private sector firms, which are developing processes to merge general purpose customers with those now assigned to ADA-required paratransit and Medi-Cal-supported non-emergency medical transport.
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Linge, Tone Therese, Olga Gjerald, Åse Helene Bakkevig Dagsland, Kai Victor Myrnes-Hansen, Huseyin Arasli, and Trude Furunes. In Pursuit of Fair Work: Taking a closer look at the Norwegian hospitality industry. University in Stavanger, 2023. http://dx.doi.org/10.31265/usps.269.
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This report highlights the findings and implications of research conducted in the Norwegian hospitality sector during the Covid-19 pandemic. The report focuses on workers’ experiences in the industry, using the Fair Work Principles: fair contracts, fair pay, fair conditions, fair management, and fair representation. Similar surveys have been conducted among hospitality workers in Ireland, Scotland, Greece, Australia, and New Zealand. The Norwegian survey was conducted between September 2021 – March 2022 and generated 853 responses of which 585 were complete from workers in the Norwegian hospitality sector. The respondents varied in gender, age, nationality, role within the sector, contract type and length of service. The results, based on the five key Fair Work Principles, show that the Norwegian hospitality sector still has some work to do to ensure that all workers in the industry experience fair work. Employees in the Norwegian worklife have a strong formal employment protection due to the Working Environment Act (Working Environment Act, 2005), in addition to other laws and regulations. Over 90 % of the participants reported that they were on permanent contracts, either full-time or part-time. However, although Norway has strong rules and regulations concerning employee rights, the survey reveals shortcomings concerning the greyer areas such as a lack of opportunities for pay rise or promotion, workplace training, not getting the rest breaks that workers are entitled to, and uncertainty whether the workers received the correct overtime pay. Some of the most concerning findings in the Norwegian hospitality sector were related to fair conditions, where an alarmingly high number participants reported that they had either experienced or witnessed harassment, abuse and bullying in their workplaces. Most of the abuse came from customers, but many of the respondents also mentioned colleagues and supervisors/ managers as perpetrators of abuse, harassment and bullying. Furthermore, over 40 percent of those who stated that they had experienced or witnessed abuse, harassment or bullying in the workplace declared that they did not report it further due to different reasons such as that they did not know where to report, did not think that anything would be done, or that they were afraid of losing their job. Concerning fair management, a third of the participants stated that they did not feel as though they were treated with dignity and respect, or that they received supportive feedback from their managers. Only half of the participants reported that they had received some kind of training in their job. The findings indicate that the types of training and development opportunities offered to employees were largely dependent on the specific workplace. Ultimately, the findings highlight the following key areas for improvement in the Norwegian hospitality industry: Opportunities for pay rise and promotion Opportunities for training Cultural change: Working to change the industry specific culture of tolerating abuse and harassment among employees in the hospitality industry Management of staff: Increased respect and perceptions of being listened to and making a difference
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Niles, John, and J. M. Pogodzinski. TOD and Park-and-Ride: Which is Appropriate Where? Mineta Transportation Institute, 2021. http://dx.doi.org/10.31979/mti.2021.1820.
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Despite the sharp drop in transit ridership throughout the USA that began in March 2020, two different uses of land near transit stations continue to be implemented in the United States to promote ridership. Since 2010, transit agencies have given priority to multi-family residential construction referred to as transit oriented development (TOD), with an emphasis on housing affordability. In second place for urban planners but popular with suburban commuters is free or inexpensive parking near rail or bus transit centers, known as park-and-ride (PnR). Sometimes, TOD and PnR are combined in the same development. Public policy seeks to gain high community value from both of these land uses, and there is public interest in understanding the circumstances and locations where one of these two uses should be emphasized over the other. Multiple justifications for each are offered in the professional literature and reviewed in this report. Fundamental to the strategic decision making necessary to allocate public resources toward one use or the other is a determination of the degree to which each approach generates transit ridership. In the research reported here, econometric analysis of GIS data for transit stops, PnR locations, and residential density was employed to measure their influence on transit boardings for samples of transit stops at the main transit agencies in Seattle, Los Angeles, and San José. Results from all three cities indicate that adding 100 parking spaces close to a transit stop has a larger marginal impact than adding 100 housing units. Previous academic research estimating the higher ridership generation per floor area of PnR compared to multi-family TOD housing makes this show of strength for parking an expected finding. At the same time, this report reviews several common public policy justifications for TOD as a preferred land development emphasis near transit stations, such as revenue generation for the transit agency and providing a location for below-market affordable housing where occupants do not need to have a car. If increasing ridership is important for a transit agency, then parking for customers who want to drive to a station is an important option. There may also be additional benefits for park-and-ride in responding to the ongoing pandemic.
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Financial Infrastructure Report 2022. Banco de la República, 2023. http://dx.doi.org/10.32468/rept-sist-pag.eng.2022.
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Banco de la República's monitoring of the local financial market infrastructure is an additional contribution to the country's financial stability. One of the products of that monitoring has been the Payment Systems Report, which is now known as the Financial Infrastructure Report. The change in name, as of this edition, is intended to reflect in a broader way the issues that are addressed in the report. The 2022 edition includes several changes that are the result of a comparative study of financial infrastructure reports prepared by other central banks. These changes seek to make the report more fluid and easier to read, including main points and selected key figures for the different interest groups to which it is addressed. The report shows the financial infrastructure continued to render its services without interruption, with general evidence of good performance in 2021. Additionally, the resilience of the Central Counterparty Risk of Colombia (CRCC) and the Large-value Payments System (CUD) to extreme events was validated, based on stress tests conducted according to international standards (focused on liquidity and credit risk). As for retail payments, transactional information indicates the use of electronic instruments increased in terms of value during 2021 compared to 2020 (credit and debit cards, checks and electronic funds transfers). The use of debit and credit cards in payments rose to levels similar to those reached in the pre-pandemic year. Meanwhile, electronic funds transfers continued to grow. Although the results of the BR 2022 survey show cash continues to be the instrument most used by the public for regular payments (like the situation in other countries), the perception of its use decreased significantly to 75 % (87 % in 2019). Also, in commerce, cash was the preferred instrument for customers. However, in this measurement, several retail channels such as hairdressers, drugstores and restaurants joined the group that has traditionally received electronic payments for a value greater than 10% of their sales (hypermarkets and gas stations). Likewise, for nearly 50% of the population, cash payments are lower than before the pandemic. This is consistent with the transactional increase in electronic payment instruments that was observed in 2021. Banco de la República continues to monitor the technological developments that have expanded and modernized the supply in the international and local payments market, as these are issues of interest to the industry that provides clearing and settlement services. This report outlines the Pix case for instant payments in Brazil, the projects that are underway regarding the possible issue of digital currency by central banks (CBDC) for cross-border payments, as well as an approach to the Fintech ecosystem in Colombia, with an emphasis on companies that provide payment services. Leonardo Villar Governor Main points: 2022 The local financial infrastructure was safe and efficient throughout the year. The services of the financial infrastructure were proved on a continuous basis, showing good performance overall. Less momentum in the large-value payment system CUD activity declined versus the previous year because of fewer government deposits with BanRep. This was offset partially by growth in repos to increase money supply and in retail-value payments (electronic funds transfers, checks and cards). Increased momentum in financial market infrastructures. Larger amounts were cleared and settled through the Central Securities Depository (DCV) due to an increase in the market for sovereign debt. Operations managed by the Central Counterparty Risk of Colombia (CRCC) increased due to inclusion of the foreign exchange segment and the positive evolution in non-delivery forward peso/dollar contracts. Added confidence in the peso/dollar spot foreign exchange market due to CRCC interposition. Number and value of trades grew, mainly due to the adjustment of therisk management model for the FX segment and the increase in the limiton net selling positions in dollars. Stress testing with international standards to validate CRCC and CUD resilience Stress tests conducted independently by the SFC, BanRep and the CRCC, like those done in England and the United States, concluded that the CRCC's risk management model allows it to withstand extreme market events and simultaneous defaults by its main members. Based on the experience of other central banks, BanRep strengthened its intraday liquidity risk stress exercises in the CUD by incorporating temporary payment delays. It calculated that a two-hour delay by a key participant increases the system's liquidity needs by 0.5%. Electronic payments increased during 2021 According to transactional information, all electronic payment instruments increased in value versus 2020 (electronic funds transfers, checks and debit and credit cards). Electronic funds transfers continued to grow (80% from legal entities), with the participation of closed schemes driven particularly by the use of mobile wallets (35% of the number of intra-transfer transactions). The use of debit and credit cards for payments climbed to levels similar to those witnessed in the pre-pandemic year. Cash continues to be the instrument most used by the public for regular payments. The results of the BanRep survey in 2022 show that the perception of the use of cash declined significantly to 75% (87% in 2019), and about 50% of the population perceive their cash payments as being lower than those they made before the pandemic. Electronic funds transfers were second most used instrument, having increased to 15% (3% in 2019). Also, in commerce, cash was the preferred instrument of payment for its customers; however, several commerce channels received more than 10% of the value of their sales in electronic payments (hypermarkets 35%, gas stations 25%, hairdressers 15%, drugstores 14% and restaurants 12%). Continuous technological developments have broadened, and modernized services offered in the payments market. Pix (instant payments in Brazil). The high level of adoption of instant transfers in Brazil motivated a review of its strengths; namely, the possibility of different use cases between individuals, businesses, and government; high participation by financial and payment institutions; free of charge for individuals and the possibility of charging legal entities, and simple user experience. Digital currencies in central banking. Several groups of countries have joined forces to conduct pilot projects with wholesale CBDCs for cross-border payments. Flows generated by international trade, foreign investment and remittances between individuals can be processed more efficiently, transparently, and securely by reducing their cost and increasing their speed. Due to the constant progress being made on this issue, BanRep will continue to monitor all CBDC-related matters. The fintech ecosystem for payments in Colombia. A high percentage of existing FinTech companies in the country are dedicated to offering digital payment services: wallets, payment gateways, mobile devices (point-of-sale terminals) and acquisition. These have driven innovation in payment services.
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Monetary Policy Report - January 2023. Banco de la República, 2023. http://dx.doi.org/10.32468/inf-pol-mont-eng.tr1-2023.
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1. Macroeconomic Summary In December, headline inflation (13.1%) and the average of the core inflation measures (10.3%) continued to trend upward, posting higher rates than those estimated by the Central Bank's technical staff and surpassing the market average. Inflation expectations for all terms exceeded the 3.0% target. In that month, every major group in the Consumer Price Index (CPI) registered higher-than-estimated increases, and the diffusion indicators continued to show generalized price hikes. Accumulated exchange rate pressures on prices, indexation to high inflation rates, and several food supply shocks would explain, in part, the acceleration in inflation. All of this is in a context of significant surplus demand, a tight labor market, and inflation expectations at different terms that exceed the 3.0% target. Compared to the October edition of the Monetary Policy Report, the forecast path for headline and core inflation (excluding food and regulated items: EFR) increased (Graphs 1.1 and 1.2), reflecting heightened accumulated exchange rate pressures, price indexation to a higher inflation rate (CPI and the producer price index: PPI), and the rise in labor costs attributed to a larger-than-estimated adjustment in the minimum wage. Nevertheless, headline inflation is expected to begin to ease by early 2023, although from a higher level than had been estimated in October. This would be supported initially by the slowdown forecast for the food CPI due to a high base of comparison, the end anticipated for the shocks that have affected the prices of these products, and the estimated improvement in external and domestic supply in this sector. In turn, the deterioration in real household income because of high inflation and the end of the effects of pent-up demand, plus tighter external and domestic financial conditions would contribute to diluting surplus demand in 2023 and reducing inflation. By the end of 2023, both headline and core (EFR) inflation would reach 8.7% and would be 3.5% and 3.8%, respectively, by December 2024. These forecasts are subject to a great deal of uncertainty, especially concerning the future behavior of international financial conditions, the evolution of the exchange rate, the pace of adjustment in domestic demand, the extent of indexation of nominal contracts, and the decisions taken regarding the domestic price of fuel and electricity. In the third quarter, economic activity surprised again on the upside and the growth projection for 2022 rose to 8.0% (previously 7.9%). However, it declined to 0.2% for 2023 (previously 0.5%). With this, surplus demand continues to be significant and is still expected to weaken during the current year. Annual economic growth in the third quarter (7.1 % SCA)1 was higher than estimated in October (6.4 % SCA), given stronger domestic demand specifically because of higher-than-expected investment. Private consumption fell from the high level witnessed a quarter earlier and net exports registered a more negative contribution than anticipated. For the fourth quarter, economic activity indicators suggest that gross domestic product (GDP) would have remained high and at a level similar to that observed in the third quarter, with an annual variation of 4.1%. Domestic demand would have slowed in annual terms, although at levels that would have remained above those for output, mainly because of considerable private consumption. Investment would have declined slightly to a value like the average observed in 2019. The real trade deficit would have decreased due to a drop in imports that was more pronounced than the estimated decline in exports. On the forecast horizon, consumption is expected to decline from current elevated levels, partly because of tighter domestic financial conditions and a deterioration in real income due to high inflation. Investment would also weaken and return to levels below those seen before the pandemic. In real terms, the trade deficit would narrow due to a lower momentum projection for domestic demand and higher cumulative real depreciation. In sum, economic growth for all of 2022, 2023, and 2024 would stand at 8.0%, 0.2% and 1.0%, respectively (Graph 1.3). Surplus demand remains high (as measured by the output gap) and is expected to decline in 2023 and could turn negative in 2024 (Graph 1.4). Although the macroeconomic forecast includes a marked slowdown in the economy, an even greater adjustment in domestic absorption cannot be ruled out due to the cumulative effects of tighter external and domestic financial conditions, among other reasons. These estimates continue to be subject to a high degree of uncertainty, which is associated with factors such as global political tensions, changes in international interest rates and their effects on external demand, global risk aversion, the effects of the approved tax reform, the possible impact of reforms announced for this year (pension, health, and labor reforms, among others), and future measures regarding hydrocarbon production. In 2022, the current account deficit would have been high (6.3 % of GDP), but it would be corrected significantly in 2023 (to 3.9 % of GDP) given the expected slowdown in domestic demand. Despite favorable terms of trade, the high external imbalance that would occur during 2022 would be largely due to domestic demand growth, cost pressures associated with high freight rates, higher external debt service payments, and good performance in terms of the profits of foreign companies.2 By 2023, the adjustment in domestic demand would be reflected in a smaller current account deficit especially due to fewer imports, a global moderation in prices and cost pressures, and a reduction in profits remitted abroad by companies with foreign direct investment (FDI) focused on the local market. Despite this anticipated correction in the external imbalance, its level as a percentage of GDP would remain high in the context of tight financial conditions. In the world's main economies, inflation forecasts and expectations point to a reduction by 2023, but at levels that still exceed their central banks' targets. The path anticipated for the Federal Reserve (Fed) interest rate increased and the forecast for global growth continues to be moderate. In the fourth quarter of 2022, logistics costs and international prices for some foods, oil and energy declined from elevated levels, bringing downward pressure to bear on global inflation. Meanwhile, the higher cost of financing, the loss of real income due to high levels of global inflation, and the persistence of the war in Ukraine, among other factors, have contributed to the reduction in global economic growth forecasts. In the United States, inflation turned out to be lower than estimated and the members of the Federal Open Market Committee (FOMC) reduced the growth forecast for 2023. Nevertheless, the actual level of inflation in that country, its forecasts, and expectations exceed the target. Also, the labor market remains tight, and fiscal policy is still expansionary. In this environment, the Fed raised the expected path for policy interest rates and, with this, the market average estimates higher levels for 2023 than those forecast in October. In the region's emerging economies, country risk premia declined during the quarter and the currencies of those countries appreciated against the US dollar. Considering all the above, for the current year, the Central Bank's technical staff increased the path estimated for the Fed's interest rate, reduced the forecast for growth in the country's external demand, lowered the expected path of oil prices, and kept the country’s risk premium assumption high, but at somewhat lower levels than those anticipated in the previous Monetary Policy Report. Moreover, accumulated inflationary pressures originating from the behavior of the exchange rate would continue to be important. External financial conditions facing the economy have improved recently and could be associated with a more favorable international context for the Colombian economy. So far this year, there has been a reduction in long-term bond interest rates in the markets of developed countries and an increase in the prices of risky assets, such as stocks. This would be associated with a faster-than-expected reduction in inflation in the United States and Europe, which would allow for a less restrictive course for monetary policy in those regions. In this context, the risks of a global recession have been reduced and the global appetite for risk has increased. Consequently, the risk premium continues to decline, the Colombian peso has appreciated significantly, and TES interest rates have decreased. Should this trend consolidate, exchange rate inflationary pressures could be less than what was incorporated into the macroeconomic forecast. Uncertainty about external forecasts and their impact on the country remains high, given the unpredictable course of the war in Ukraine, geopolitical tensions, local uncertainty, and the extensive financing needs of the Colombian government and the economy. High inflation with forecasts and expectations above 3.0%, coupled with surplus demand and a tight labor market are compatible with a contractionary stance on monetary policy that is conducive to the macroeconomic adjustment needed to mitigate the risk of de-anchoring inflation expectations and to ensure that inflation converges to the target. Compared to the forecasts in the October edition of the Monetary Policy Report, domestic demand has been more dynamic, with a higher observed level of output exceeding the productive capacity of the economy. In this context of surplus demand, headline and core inflation continued to trend upward and posted surprising increases. Observed and expected international interest rates increased, the country’s risk premia lessened (but remains at high levels), and accumulated exchange rate pressures are still significant. The technical staff's inflation forecast for 2023 increased and inflation expectations remain well above 3.0%. All in all, the risk of inflation expectations becoming unanchored persists, which would accentuate the generalized indexation process and push inflation even further away from the target. This macroeconomic context requires consolidating a contractionary monetary policy stance that aims to meet the inflation target within the forecast horizon and bring the economy's output to levels closer to its potential. 1.2 Monetary Policy Decision At its meetings in December 2022 and January 2023, Banco de la República’s Board of Directors (BDBR) agreed to continue the process of normalizing monetary policy. In December, the BDBR decided by a majority vote to increase the monetary policy interest rate by 100 basis points (bps) and in its January meeting by 75 bps, bringing it to 12.75% (Graph 1.5). 1/ Seasonally and calendar adjusted. 2/ In the current account aggregate, the pressures for a higher external deficit come from those companies with FDI that are focused on the domestic market. In contrast, profits in the mining and energy sectors are more than offset by the external revenue they generate through exports. Box 1 - Electricity Rates: Recent Developments and Indexation. Author: Édgar Caicedo García, Pablo Montealegre Moreno and Álex Fernando Pérez Libreros Box 2 - Indicators of Household Indebtedness. Author: Camilo Gómez y Juan Sebastián Mariño