This chapter first covers current revenue recognition standards for services transactions that closely parallel those for construction contracts under International Accounting Standards (IAS) 11. While setting out clearly the criteria for the recognition of revenue under three categories, sale of goods, ...
Construction contracts IAS 18 does not adequately address the issue of revenue recognition on a construction contract. However, IAS 11 applies the basic principles we have already identified to such contracts, which are defined in IAS 11 as follows (6...
IAS 18 does not adequately address the issue of revenue recognition on a construction contract. However, IAS 11 applies the basic principles we have already identified to such contracts, which are defined in IAS 11 as follows(6): ‘Contracts specifically negotiated for the construction of an asse...
Revenue for construction contracts would be recognised during construction, only if the customer controls the item as it is constructed. This could lead to revenue being recognised later than at present. However, if construction activities continuously transfer assets to a customer, then the proposed ...
Rethinking Revenue Recognition - The Case of Construction Contracts Under International Financial Reporting Standards Accounting scandals and deficiencies in standards have persuaded international accounting standard-setters to rethink revenue recognition. The proposals of... Dobler,Michael - 《International Journ...
fewer requirements on revenue recognition, the two main revenue recognition standards, IAS 18,Revenueand IAS 11,Construction Contracts, can be difficult to understand and apply. In addition, IAS 18 provides limited guidance on important topics such as revenue recognition for multiple-element ...
the new standard comes into effect in 2018, or an entity early adopts IFRS 15, the traditional historical cost approach to revenue recognition remains in place for most practical purposes and entities and their auditors will have to continue to apply IAS 18, IAS 11 –Construction Contracts (see...
In long-term construction contracts, revenue is recognized at the point of the cash collected. A. 正确 B. 错误 相关知识点: 试题来源: 解析 B 正确答案:B 解析:In long-term construction contracts, revenue is recognized in proportion to the contract work performed each year....
Revenuerecognition收入确认（financialaccounting）CHAPTER 18 Revenue Recognition A. Revenue Recognition—Basic Concepts.1. Revenue recognition: One of the most difficult problems facing the accounting profession. This problem arises from the difficulty in developing guidelines applicable to all situations.2. ...
revenue recognition