Revenue Is Recognized When It Is Probable That

Recognized as revenue measured at fair value when it is probable that future economic benefits will flow to the entity.

Revenue is recognized when it is probable that. If with condition initially recognized as liability and recognized as revenue only when the condition is satisfied. Revenue from use of entity s assets yielding interest royalties and dividends shall be recognized when it is probable that the economic benefits associated with the transaction will flow to the entity. This standard shall be applied in accounting for. If without condition recognized immediately as revenue.

Revenue recognition is an accounting principle that outlines the specific conditions under which revenue is recognized. Revenue is measured at the fair value of the consideration received or receivable and recognised when prescribed conditions are met which depend on the nature of the revenue. The amount of the revenue can be measured reliably. In theory there is a wide range of potential points at which revenue can be recognized.

Accordingly the revenue from 1. This guide addresses recognition principles for both ifrs and u s. Ias 18 was reissued in december 1993 and is operative for. This standard identifies the circumstances in which these criteria will be met and therefore revenue will be recognized.