Tag: interest income

Sample Disclosure – Revenue Recognition (2 December 2008)

Revenue recognition Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised: i...

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Various Types of Transactions – Collection from Other Source of Revenue and Income, Interest Income (Part 4a)

Interest income is earned usually through deposits placements with financial institutions. Sometimes, it is also earned through lending of money to third parties (some countries have strict laws governing money lending activities). Interest is the price that b...

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Cash Basis Vs Accrual Basis of Accounting

Many small businesses use cash basis of accounting to record transactions, especially those who prepare the accounts once a year. Please refer to my post: Preparing Accounts of Small Businesses Once A Year – Tips and Pitfalls To Avoid for further illustr...

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