• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

Revenue

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Revenue

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 30, 2016 at 8:57 pm #336388
    nari
    Member
    • Topics: 261
    • Replies: 176
    • ☆☆☆

    Hello Mike

    I was thinking about a situation and I have a question. Its not directly related to F7 but I think you are the best person I should ask…..I hope you don’t mind.

    Here goes:
    In a situation where entity A sells shoes worth 100 in the last month (December) of their financial year and gives a discount voucher of 20 to the customers to be used within six months. How much revenue is recorded for that 1 pair of shoes, is it 100 or 80?

    I was thinking that it should be 100 since we don’t know exactly how many people would use the voucher but then I was also thinking to be prudent and not overstate revenue for that financial year we should use 80.

    August 31, 2016 at 7:27 am #336466
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22699
    • ☆☆☆☆☆

    Here’s a link:

    https://www.ey.com/Publication/vwLUAssets/Applying_IFRS_in_Retail_and_Consumer_Products:_The_new_revenue_recognition_standard_-_retail_and_consumer_products/$File/Applying-RCP-May2015.pdf

    Scroll down to paragraph 4.1 on page 8 (there’s much too much for me to start typing it all out!)

    Hope that helps – let me know if it doesn’t

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • John Moffat on Time Series Analysis – ACCA Management Accounting (MA)
  • John Moffat on The use of the target cost – ACCA Performance Management (PM)
  • tello18956 on CIMA BA2 Non-Financial Performance Measurement
  • 56v647e on ACCA AB Chapter 3 – An organisation’s stakeholders – Questions
  • SwissCheese on The use of the target cost – ACCA Performance Management (PM)

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy