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IFRS 15 - Coggle Diagram
IFRS 15
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Required
- This will help you to recognize the correct amount of revenue in your Journals after taking into acc the discounts
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- It's NB to follow the 5 step even if the required requires you Journal entries.
before an amount can be recognized, it must PASS the 5step process!
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Step 5
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CONCLUDE!!!
Therefore, revenue should be recognized.
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