Lecture Intermediate accounting (Volume 1, IFRS edition): Chapter 18 -...

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Chapter - Revenue. After completing this chapter you should be able to: Apply the revenue recognition principle, describe accounting issues for revenue recognition at point of sale, apply the percentage-of-completion method for long-term contracts, apply the completed-contract method for long-term contracts....and other contents.

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Loại file: PPT , dung lượng : , số trang : 92

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Volume 2 18http://downloadslide.blogspot.com C H A P T E R 18 REVENUE Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield 18-2 http://downloadslide.blogspot.com Learning Objectives 1. Apply the revenue recognition principle. 2. Describe accounting issues for revenue recognition at point of sale. 3. Apply the percentage-of-completion method for long-term contracts. 4. Apply the cost-recovery method for long-term contracts. 5. Identify the proper accounting for losses on long-term contracts. 6. Describe the accounting issues for service contracts. 7. Identify the proper accounting for multiple-deliverable arrangements. 18-3 Revenue Current Environment Guidelines for revenue recognition Departures from sale basis Revenue Recognition (At Point of Sale) Measurement Recognition Summary Revenue Recognition (Long-Term Contracts) Percentage-of-completion method Cost-recovery method Long-term contract losses Disclosures Revenue Recognition (Other) Service contracts Multiple-deliverable arrangements Other Summary of methods 18-4 The Current Environment Revenue recognition is a top fraud risk and regardless of the accounting rules followed (IFRS or U.S. GAAP), the risk or errors and inaccuracies in revenue reporting is significant. Restatements for improper revenue recognition are relatively common and can lead to significant share price adjustments. 18-5 ... - tailieumienphi.vn


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