How is the product and service component is recognized under IAS 18 (Revenue Recognition)?

Cash can be received in an earlier or later period than obligations are met (when goods or services are delivered) and related revenues are recognized that results in the following two types of accounts:

• Accrued revenue: Revenue is recognized before cash is received.
• Deferred revenue: Revenue is recognized after cash is received.

Revenue realized during an accounting period is included in the income