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Hi, I’ve noticed Revenue recognition in exam tips for June 2012 however I cannot think of any way how it could be asked apart from for a couple of marks of written question.
Could you help what i should keep in my mind ?
Thank you
Q2 often has paragraph i in the question where the company directors are doing something dodgy with revenue recognition. For example, trying to recognise the full value of a sale when the company was only acting as agent, recognising the value of a “sale” when it’s a sale to a bank and we are probably going to buy it back after 3 years.
That’s the most likely place for it, as a sub-paragraph in question 2.
But it could come up as a written / wordy question in q4 or q5
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