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Home > Accounting > Create checklist for revenue recognition under IFRS 15 by adding five steps and eleborating each ste

Create checklist for revenue recognition under IFRS 15 by adding five steps and eleborating each ste

1. Identify the Contract with the Customer

2. Identify the Performance Obligations in the Contract

3. Determine the Transaction Price

4. Allocate the Transaction Price to the Performance Obligations

5. Recognize Revenue When (or as) the Entity Satisfies a Performance Obligation

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