Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

According to IFRS , Revenue recognition for a sale of goods occur when :

A- Two conditions are met .

B- Three conditions are met .

C- Four conditions are met .

D- Five conditions are met .

Accounting Auditing Banking Sales
user-image
Question added by Deleted user
Date Posted: 2015/03/05
Upvote (1) Views (2) Followers (9) Answers (7) Report Question
Write an Answer
Register now or log in to answer.
Saifullah Shirazi
by Saifullah Shirazi , Senior Accountant , Suraj Cotton Mills Limited

All five conditions are met 

"Option" D is the right answer as per IAS18

IMTIAZUR RAHMAN
by IMTIAZUR RAHMAN , Administration And Customer Care Officer , Amira Enterprises (Importers, Marketing & Retail Sales), Mississauga, Ontario

D- Five conditions are met

aziz urrehman
by aziz urrehman , key account executive , alkhair group of companies foam manufacturing

D- Five conditions are met . as per IAS18

Khurram Shaukat Memon
by Khurram Shaukat Memon , Academic Research Writer , Freelance Academic Research Writer

Well when five conditions for revenue recognition are met, only then revenue generated from sale of goods could be recorded.

IMRAN ALI MOHAMMED
by IMRAN ALI MOHAMMED , Accounts Officer , M/s. Euro Glazing Ltd

All the5 conditions have to be met inorder to be considered as revenue as per IFRS.

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

Answer D is the correct answer

Syed Ammar
by Syed Ammar , Senior Accounts Officer , The City Schools (Group Head office)

............A- Two conditions are met .

Write Your Answer
More Questions Like This