Question
Discuss in detail basic revenue recognition and measurement issues. Explain how transaction price is determined in recognizing revenue. Discuss allocation of the transaction price to
Discuss in detail basic revenue recognition and measurement issues. Explain how transaction price is determined in recognizing revenue. Discuss allocation of the transaction price to performance obligations when recognizing revenue. What are the key concerns in accounting for long-term contracts. Compare and contrast the percentage-of-completion and completed-contract methods of revenue recognition. Discuss accounting for special issues in revenue recognition. What are the required disclosures related to revenue recognition. (No plagiarism thank you)
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