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Revenue Recognition - Coggle Diagram
Revenue Recognition
Issues
Transfer of Control
Meaning
Indicators
Conditional sale
Right of return
Recognise over time
Construction contracts
5 Steps
3
. Price?
Variable
Financing
Non-cash
Fixed
1
. ID contract
2
. ID Performance obligations
4
. Allocate price
per obligation
5
. Recognise revenue
on transfer of control