Question
The product and services were delivered on September 30th and an invoice will be issued on September 30th. The payment won't be received until November
The product and services were delivered on September 30th and an invoice will be issued on September 30th. The payment won't be received until November 30th. The contract states that the title passes onto the customer upon full payment. Under IFRS, would the revenue be recognized in September or November under the completed contract method? Please explain why.
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IFRS 15 establishes the principles that an entity must follow when reporting information about the n...
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
