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IFRS 15 REVENUE

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IFRS 15 REVENUE

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 24, 2017 at 10:52 pm #403391
    optad
    Member
    • Topics: 2
    • Replies: 0
    • ☆

    PLEASE HELP!!HOW MUCH WILL BE RECOGNISED AS REVENUE FOR THE YEAR 31 MARCH 2011??

    Included in the sales revenue is an amount of $3 million relating to the sales made under a special promotion in march 2011.these goods were sold with an accompanying voucher equal to the selling price.five years after the sale, these vouhers will be exchanged for goods of the customer’s choosing. The profit margin on these goods is expected to be 30% of selling price,and market research estimates that 50% of the vouchers will be redeemed.the present value at 31 march 2011(year end) of $1 at the time the vouchers will be exchanged can be taken as 60c.

    NOTE:revenue in summarised list of accoubt balances is $26,750.

    August 26, 2017 at 8:47 am #403606
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23323
    • ☆☆☆☆☆

    Opted, this looks like a question set by your tutor! I don’t recognize it as an ACCA question

    Either tell me what the printed solution shows … or tell me your solution and let’s see if that makes sense

    But I’m not here to do your homework for you!

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  • The topic ‘IFRS 15 REVENUE’ is closed to new replies.

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