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Under the accrual basis of accounting, revenues are reported in the accounting period when Cash Is Received Service Or Goods Have Been Delivered

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تم إضافة السؤال من قبل mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia
تاريخ النشر: 2014/11/07
Naveed Ahmad
من قبل Naveed Ahmad , Head of Accounting and Finance and Head of Internal Audit positions , Al Fardan group

Under accrual concept accounting, revenue is recognized when::

 

Risks and rewards have been transferred from Seller to Buyer

The seller has no control over the goods sold

Collection of payment is reasonably sure

The amount of revenue can be reasonably measured

Cost of earning the revenue can be reasonably measured

Mohamed Ibrahim Soliman
من قبل Mohamed Ibrahim Soliman , Financial Controller, acting CFO , Sinad Holding Co

revenue is recognized on transfer of risk from seller to buyer while collectability is expected

مستخدم محذوف‎
من قبل مستخدم محذوف‎

agreed with mr Naveed

ahmed shehab eldin
من قبل ahmed shehab eldin , accountant , egic consultine enginerring

Goods Have Been Delivered

Mohammed Ismael
من قبل Mohammed Ismael , Finance Manager , confidintional

Under accrual Basis the Revenue are recognized based on the period it is do not have any relation with cash

Muhammad Faisal Zia
من قبل Muhammad Faisal Zia , Accounts Executive , ALWAKEEL Foodstuff Packing Factory LLC

On Accrual basis, income/expenses are recorded when they are earned/incurred, not when the cash is received/paid.

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