The Committee decided, by a majority of votes, to adopt the wording in the Agenda Decision after making the changes on (i) highlighting the importance of "over-time revenue accounting" because of a very different accounting result for "point in time revenue accounting"; (ii) adding the manag...
IFRS 15 requires companies to recognise revenue based on the transfer of control rather than the passage of time. They might recognise revenue either over time or at a point in time, depending on whether the customer controls the asset as it is being constructed. Companies must carefully assess...
The key driver is to ensure the satisfaction of your customer. If your product offering is universally recognised as quality, you have the foundations to charge a higher price. If guests feel like they’re getting maximum value for their money, it’s very likely they’ll be willing to spend...
In case of sale of flat by a builder, the revenue should be recognised at a point in time, as per IND AS 115 because the control of the Asset i.e flat is transferred to the buyer on completion of the flat & issuance of completion certificate . The builder cannot recognize the...
GreatGear gets the used bikes from their previous owners (let’s call them “sellers”). The seller brings a bike to GreatGear’s store and leaves it there to offer them to customers. At that point, seller does not get any cash. ...
The key driver is to ensure the satisfaction of your customer. If your product offering is universally recognised as quality, you have the foundations to charge a higher price. If guests feel like they’re getting maximum value for their money, it’s very likely they’ll be willing to spend...