BÀI GIẢNG kế TOÁN QUỐC tế chapter 20 preparation of financial statements for companies

Chapter 20 PREPARATION OF FINANCIAL STATEMENTS FOR COMPANIES... IAS 18IAS18 Revenue 8 Recognition Recognition occurs when it is probable that future economic benefits will flow to th

Chapter 20

PREPARATION OF FINANCIAL STATEMENTS FOR COMPANIES

Learning Objectives

1 IAS 1

2 IAS 18

2

IAS 1

3

IAS 1

4

IAS 1

5

IAS 1

6

IAS 1

7

IAS 18

IAS18 Revenue

8

Recognition

Recognition occurs

when it is probable

that future

economic benefits

will flow to the entity

and when these

benefits can be

measured reliably

Recognition

Recognition occurs

when it is probable

that future

economic benefits

will flow to the entity

and when these

benefits can be

measured reliably

Measurement

The amount of revenue

is usually decided by the agreement of buyer and seller However, the

revenue is measured as the fair value of the

consideration received, i.e after trade and bulk discounts

Measurement

The amount of revenue

is usually decided by the agreement of buyer and seller However, the

revenue is measured as the fair value of the

consideration received, i.e after trade and bulk discounts

IAS18 covers revenue from

• Sale of goods

• Rendering of services

• Use by others of entity assets yielding interest, royalties and dividends