Page 222 - Financial Accounting 1 ITC Preparation June 2018
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ITC EXAM PREP – JUNE 2018
Overview
• IFRS 15 = single framework for revenue:
• Recognition and Measurement
• Types of questions?
• Discussion - important to determine what is required?
If only 10 marks, unlikely that it will be all five steps of
revenue model
• Journal entries
• Statement of P/L and OCI, Statement of Financial
Position
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