REVENUE FROM SALES OF RECOGNITION GOODS & SERVICE OF Bingo Industries (Australian Waste management company)

Revenue from the sale of goods, E.g recycled products

Recognized when the goods are transferred to the customer

For example, only recognizes revenue when the customer purchase the recycling equipment and successfully received it.

Revenue from service provided. E.g. skip bin and commercial bin collection; gate fee

Recognized when the performance obligation is satisfied.

For instance, revenue collected from customers is recorded when the waste is received at the site;

Performance obligation here is receiving waste

Question:

*Explain/ summarize each part .