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78. If the outcome of rendering services cannot be estimated reliably, IFRS® requires the use of which revenue recognition method?

Accounting Auditing Financial Accounting
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Date Posted: 2015/06/24
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Vijayabharathi Kalyanasundaram (ACMA - INDIA)

As per IAS18, when the outcome of the transaction rendering of services can't be estimated reliably, revenue has to be recognised only to the extent of expenses recognised that are recoverable...

Mable Vincent
by Mable Vincent , Executive (Audit) , Ernst & Young

Revenue must be recognised only if it can be reliably measured.Hence, revenue recognition must be postponed.

 

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