Tag: revenue recognition

Sample Disclosure – Accounting Policy On Revenue Recognition (10 September 2009)

Revenue Recognition  Revenue is measured at the fair value of the consideration received or receivable net of sales tax, trade discounts and customer returns. Sale of goods Revenue from sale of goods is recognised when the following conditions are satisfied: ...

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Sample Disclosure – Revenue From Forrest Logging (25 August 2009)

Revenue From Forrest Logging Revenue from forrest logging is measured at the fair value of the consideration receivable and is recognised in the income when the rights of logging have been transferred to logging contractors. ...

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Sample Disclosure – Accounting Policy On Revenue From Landscaping And Maintenace Work (24 April 2009)

Revenue from landscaping and maintenance work Revenue form landscaping and maintenance work is recognised upon completion at balance sheet date. Where the outcome of the work cannot be measured reliably, revenue is recognised to the extent of the relevant expe...

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

As mentioned in my post: Various Types of Transactions – Part 1, Introduction, there were 5 examples of other source of revenue or income highlighted – interest income, dividend income, rental income, proceeds from disposal of assets and compensation r...

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

Rental income is earned by business entities for allowing another party to “use” the resources (assets) of the business entities. For example, letting of property, machinery, equipment & etc. An agreement is usually drafted and agreed by both p...

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

For those business entities who have invested in shares of another company, dividends may be received by these business entities as a way of distributing the earnings or profits made by the investee companies to the shareholders. Dividends could take the form ...

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