Sir,
In example 4, why is the Revenue from "Technical Support" treated as a "Liability"?
Thanks.
Ask the Tutor ACCA SBR
IFRS15- Revenue from Contracts
5y ago#1If you don't recognise the revenue yet, you have to credit something...............so that will be a liability.
You cannot recognise the revenue for the periods for which you haven't yet offered technical support.
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