AC2101 S1 2014 Seminar 20 Revenue.pptx

E if either the entity regularly sells the good or

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Unformatted text preview: obligations to which an entity would apply the revenue model *  Specified criteria must be met to apply this standard to a contract *  Some contracts would be combined and accounted for as one contract *  Contract modifications: - Some accounted for as a separate contract - Otherwise, reevaluate remaining performance obligations 10 5 Step 2: Identify the separate performance obligation(s) *  Goal: To identify the promised goods or services that are distinct and, hence, that should be accounted for separately *  Pattern of transfer of the good/s...
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This document was uploaded on 02/10/2014.

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