Revenue

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.

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May 19, 2021 at 9:50 am #621038
rashard
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What is the difference between transferring the legal title of an asset and transferring the physical possession of the asset? And how to determine if the legal title has been transferred or not?
May 19, 2021 at 3:45 pm #621066
Stephen Widberg
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I sell you a house on Monday and move out on Tuesday.

Legal title – Monday
Possession – Tuesday

Transfer of title – determined by lawyers

What matters for the accounts is transfer of control – usually possession
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