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What is revenue recognisation criteria under IFRS 15. how its different from IAS 18?

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Question added by Wasim khan wazir , Finance Specialist , Mott Macdonald
Date Posted: 2016/03/01
Khaled El Nagar
by Khaled El Nagar , Chief Accountant , Sonar Sondaj

 

1- The entity has transferred the significant risks and rewards of ownership,

 

2- the entity has neither continuing managerial involvement to an extent

 

associated with ownership nor effective control over the goods.

 

 3- the revenue (measured at the fair value of the consideration received or

 

receivable) can be reliably measured.

 

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