The purpose of this course is to familiarize you with the criteria that must be satisfied in order to recognize revenue in accordance with IAS 18, Revenue, from a sales-type transaction. This course also discusses how to measure the amount of revenue to recognize and how to apportion revenue among multiple deliverables when a company sells a bundle of products and/or services.
In addition, revenue recognition under construction accounting is discussed.
When you complete this course you will be able to:
- Determine when to recognize and how to measure revenue from a variety of transactions.
- Apply the criteria for revenue recognition and identify the circumstances in which those criteria have, or have not, been met. Identify issues that may arise when applying the revenue recognition criteria to separately identifiable components of a single transaction.
- Apply the revenue recognition criteria for construction contracts.
Advance Preparation: None
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