Tag: sale of goods

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...

Read More

Tagged As: , , , , , , , , , , , , , ,

Various Types of Transactions – Collection from Sales or Services Rendered (Part 3)

For profit orientated entities, revenue is the “bloodline” of the businesses. The cash collected from invoicing or billing is vital in keeping the businesses up and running – meeting all sorts of daily expenses. Depending on the nature of the bus...

Read More

Tagged As: , , , , , , , ,