Significance of the contract for the fair presentation of financial statements (ხელშეკრულების მნიშვნელობა ფინანსური ანგარიშგების სამართლიან წარდგენაში)

Abstract

• The contract is based on the recognition of obligations, the selection criterion of which is the difference between goods and services. In case of modification of contracts, it is important to apply the rule to reflect the requirements of IFRS 15 in practice. This requires the economic entity to identify the criterion for the separation of additional goods and services – the possibility of receiving benefits from them separately. • The content of the digital contract is a computer program and does not legally correspond to traditional contracts. These contracts are "attached" to the traditional contract and provide for the conclusion, performance and termination of the contract. Thus, a digital contract as a computer program should be separated from the contract in that it facilitates the conclusion, performance and termination. • Legal recognition of digital contracts requires the creation of a legal and legislative environment that automates the process of drafting, concluding, performing and enforcing legal contracts