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Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Revenue and Asset
If you have transfered control and ownership through document but haven’t transferred the asset to another company. Do u still record the revenue? And does that company recognize it as an asset ?
For eg X purchases Cars from Y. Y gave all the ownership papers to X and the invoice too.
X made the complete payment.
However Y have not delivered the cars to X.
What are the financial implications?
