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IFRS requires capitalizing actual interest (with modification) in self-constructed assets . What are the five steps necessary to meet IFRS requirement. (Marks 1) Answer a

IFRS requires capitalizing actual interest (with modification) in self-constructed assets. What are the five steps necessary to meet IFRS requirement. (Marks 1)

Answer a

Five steps necessary to meet IFRS requirement

Contract identification

Performance obligation identification

Transaction price

Price allocation to the performance obligation

Revenue recognition

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