vinod saini
asked over 1 year ago
What is the principle for IFRS 15 Satisfaction Of Performance Obligation ?
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manusha
answered over 1 year ago
the principle is that revenue is recognised in accordance with IFRS 15 as a result of an entity satisfying a performance obligation in a contract with a customer. In addition, the FASB decided to carry forward a definition of revenue that is based on the definition in FASB Concepts Statement No. 6 Elements of Financial Statements.
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