Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 30, 2024

The revenue for the following will be recognized upon delivery of the equipment and completion of installation. Please explain why is it considered as asset

The revenue for the following will be recognized upon delivery of the equipment and completion of installation.

Please explain why is it considered as asset liability approach under IFRS criteria.

1. delivery of equipment

2. installation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting A Business Planning Approach

Authors: Noah P. Barsky, Jr. Anthony H. Catanach

2nd Edition

1516506286, 978-1516506286

More Books

Students also viewed these Accounting questions

Question

★★★★★

Metzler Communications designs and programs a web site for a local business. Metzler charges $33,000 for the project and the local business signs a 7 percent note January 1, 2011. Required: 1....

Answered: 1 week ago

Question

★★★★★

13.21 Study time helps CPI? Refer to the previous exercise. a. Report and interpret the P-value for testing the hypothesis that the population slope coefficient for study time equals 0. b. Find a 95%...

Answered: 1 week ago

Question

★★★★★

Briefly state Platos position on memory, perception, and motivation.

Answered: 1 week ago

Question

★★★★★

How does an organization's product mix relate to its development of a product line? When should an enterprise add depth to its product line rather than width to its product mix?

Answered: 1 week ago

Question

★★★★★

PHN Foods granted 18 million of its no par common shares to executives, subject to forfeiture if employment is terminated within three years. The common shares have a market price of $5 per share on...

Answered: 1 week ago

Question

★★★★★

how information systems influenced the company's organizational strategy. Critique their core information system applications from a business perspective. Analyze how information system projects are...

Answered: 1 week ago

Question

★★★★★

Assume you are a network administrator. Your internal network has application servers that are accessed by inbound traffic from the Internet. You are considering several strategies. The strategy you...

Answered: 1 week ago

Question

★★★★★

Novak Company has two production departments, Fabricating and Assembling. At a department managers' meeting, the controller uses flexible budget graphs to explain total budgeted costs. A separate...

Answered: 1 week ago

Question

★★★★★

Vehicle speed on a particular bridge in China can be modeled as a normal distribution. If 5% of all vehicles travel less than 39.58 miles/hr and 10% travel more than 73.95 miles/hr, what are the mean...

Answered: 1 week ago

Question

★★★★★

The technical reference manual for the Cortex-A15 says that the GIC is memory mapped. That is, the core processors use memory mapped I/O to communicate with the GIC. Recall from Chapter 7 that with...

Answered: 1 week ago

Question

★★★★★

i. In preparing its financial statements for the year ended December 31, 2022, Wells Ltd inventory count was carried out on the 4 of January 2023. The value of the inventory counted was $360 000....

Answered: 1 week ago

Question

★★★★★

4. Explain how to price managerial and professional jobs.pg 87

Answered: 1 week ago

Question

★★★★★

4. How exactly would you appraise the employees competencies? What tools would you use specifically, and why?pg 87

Answered: 1 week ago

Question

★★★★★

3. Which appraisal problems from this chapter would help explain the fairness and accuracy issues that sometimes arise in the companys appraisals?pg 87

Answered: 1 week ago

Previous Question Next Question