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Revenue





                           Revenue recognition





               1.1   A five step process




                                                         Step 1

                                                  Identify the contract





                                                         Step 2

                                     Identify the separate performance obligations






                                                         Step 3

                                            Determine the transaction price





                                                         Step 4


                             Allocate the transaction price to the performance obligations





                                                         Step 5

                                    Recognise revenue as or when a performance
                                                 obligation is satisfied








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