Transcription of Revenue Illustrative Examples - ASSB
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STATUTORY BOARD SB-FRS 18 FINANCIAL REPORTING STANDARD Revenue Illustrative Examples SB-FRS 18 IE Illustrative Examples These Illustrative Examples accompany, but are not part of, SB-FRS 18. The Examples focus on particular aspects of a transaction and are not a comprehensive discussion of all the relevant factors that might influence the recognition of Revenue . The Examples generally assume that the amount of Revenue can be measured reliably, it is probable that the economic benefits will flow to the entity and the costs incurred or to be incurred can be measured reliably. Sale of goods The law in different countries may mean the recognition criteria in the Standard are met at different times. In particular, the law may determine the point in time at which the entity transfers the significant risks and rewards of ownership.
2 SB-FRS 18 IE Illustrative examples These illustrative examples accompany, but are not part of, SB-FRS 18. The examples focus on particular aspects of a transaction and are not a comprehensive discussion of all the relevant factors
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