IAS
- Accounting
What Is A Constructive Obligation And A Present Obligation?
Constructive obligation One of the essential characteristics of a liability is that there must be a present obligation arising from…
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Agency and principal relationship versus revenue recognition
The distinguishing features of an agency and principal relationship and the consequences for revenue recognition. Â In an agency relationship, amounts…
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5 steps in the IASB’s proposed new revenue recognition model
The five steps in revenue recognition model are given below: Identify the contract with the customer Identify the separate performance…
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Identification Of Separate Components Of Secured Transactions
Identification of the separate components of secured transactions under IAS 18. Paragraph 13 of IAS 18 relates to the identification…
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Accounting Standard Setting Process Of IASB
The standard setting process of IASB comprises six stages where the Trustees having the opportunity to ensure compliance at various…
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