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Hi Sir,
As per the Revenue ED it states that the transaction price will be allcated as the the stand alone selling price and seperate performance obligations will be recognised for DISTINCT items. COuld you please help me what this actually means,
Regards
If a revenue generator is for example split between sales and after sales servive, the sales price will be recognised in full as at the date the sale took place. However, the after-sale service revenue needs to be split over the years for which the after-sale service is given 9 including a profit element )
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