Revenue recognition
From ACT Wiki
1. Financial reporting.
The identification of - and accounting for - an amount received or receivable as an item of revenue for the reporting entity, following relevant financial reporting standards, for example IFRS 15.
2. Financial reporting - principles - accounting policies.
The financial reporting principles and policies that a reporting entity applies to determine the accounting treatment for relevant amounts received or receivable.
In particular whether - and in what accounting period - to treat them as revenue.
