Font Paragraph Industry Group Commercial Services & supplies 800WORDS Company Bingo industries Itd and Clean way waste management Question: Compare recognition criteria and measurement in revenue used by Bingo Industries Limited and Cleanaway Waste Management companies .1.. Discuss which accounting standard in relation to both of the recognition criteria and measurement of revenue should be used by these Australian companies 2. Access their 2020 annual reports and provide a comparison of their notes to the financial statements that discuss their recognition and measurement of revenue 3. Provide 3 references. Note: You can compare between two companies (because they are in the same industry, they might not use the same recognition criteria), you can also compare with the criteria" that you think could be used but they might not use it in their annual report notes Accounting standard in the measurement of revenue: AASB 15/IFRS 15, AASB 120 for job keeper payment from government Below is from Bingo's annual report about their revenue recognition Note 3. Revenue and Other Income Under AASS 15. novero recognition for each of the Group's key rovence stroarts is as follows Segment Revenue Stream Performance obligation Timing of recognition Colections Sko bin rovence Collection of a wide range of skiobins from private House, Point in time recognition whet infrastructure projects and rose dontial and commercia the bins and colocted. construction companies for the deal of B&D was Collections Commerce in Coloctor of vous sold and quid waste strand from a Polot in time recognition when FORO tange of commercial and industrial customers thens are colected Ehit.stations Becicm.ect.co.be und interaccontown Paragraph Industry Group Commercial Services & Supplies 800WORDS Company Bingo industries Itd and Clean way waste management Question: Compare recognition criteria and measurement in revenue used by Bingo Industries Limited and Cleanaway Waste Management companies .1. Discuss which accounting standard in relation to both of the recognition criteria and measurement of revenue should be used by these Australian companies 2. Access their 2020 annual reports and provide a comparison of their notes to the financial statements that discuss their recognition and measurement of revenue 3. Provide 3 references. Note: You can compare between two companies (because they are in the same industry, they might not use the same recognition criteria), you can also compare with the criteria" that you think could be used but they might not use it in their annual report notes Accounting standard in the measurement of revenue AASB 15/IFRS 15, AASB 120 for job keeper payment from government Below is from Bingo's annual report about their revenue recognition Note 3. Revenue and Other Income Under AASS 15, reverno recognition for each of the Group's key revenue strate is as follow Segment Revenue Stream Performance obligation Timing of recognition Colections Sko bih revence Collection of a wide range of skiobins from private householdaPontinimo recognition who infrastructure projects and residential and commercia the bins are colected construction companies for the goal of B&D wasto Collections Commerciali Coloctor of vous sold and quid waste streams from a Point in time recognition when range of condustrial customers thers are collected Ehet stations. Becicm.ect.com dan intercontow
