Accountants’ Understanding and Recognition of Thai Financial Reporting Standard No. 15 on Revenue from Contracts with Customers

Abstract

This research aimed to study Thai accountants’ level of understanding and recognition of Thai Financial Reporting Standard no. 15 (TFRS 15) on revenue from construction-related contracts with customers. A questionnaire was used to collect data from 147 accountants who participated in an academic service project conducted by Lampang Rajabhat University. The data were analyzed using descriptive statistics including percentage, mean scores, and standard deviation, a T-test and the One-way ANOVA. The results showed that the participants’ level of understanding and recognition of TFRS 15 on the introduction, construction income, construction costs, recognition, and measurement factors were high. Moreover, participants’ personal factors such as level of education (bachelor’s, master’s and doctoral degree) and work experience (less than 2 years, between 2-5 years, between 6-8 years, and more than 8 years) were found to have no impacts on their level of understanding and recognition of TFRS 15.