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What is Revenue Recognition Guidelines Explained about?

The key requirements for revenue recognition from rendering of services are: 1. The stage of completion of the transaction at the end of the reporting period can be measured reliably. 2. The costs attributable to the transaction and the costs to complete the transaction can be measured reliably. 3. It is probable that the economic benefits associated with the transaction will flow to the entity. Revenue is recognised by reference to the stage of completion of the transaction at the end of the reporting

Author

ssanjitkumar

Language

EN