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Financial Reporting > Revenue - ASPE > Flashcards

Revenue - ASPE Flashcards

1
Q

Revenue Recognition criteria ASPE

A
  1. Performance is completed
  2. Collection is a reasonably assured
  3. Considerations is reliably measured
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2
Q

Identifying multiple deliverables

A

They are separable units

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3
Q

What happens when there are uncertainties in revenue measurement and collection

A

Defer revenue recognition till uncertainty is resolved.

If the uncertainty can be reliably predictable estimated - recognize revenue with provision for uncertainty

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Financial Reporting (17 decks)

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