What is Deferred income what is the difference between accrued income how it will effect on Financial statement
- 1 Answers
- 1612 Views
- Cap Gemini, I also Faced
- E-Mail Answers
Answer Posted / tari
Hi
Deferred income refers to suspension of revenue already receivable but has not yet met all the conditions for revenue recognition in that specific period as per IFRS 15 e.g. may be proceeds received for a sale of inventory but the inventory is yet to be handed over i.e. control is yet to be passed on. Accrued revenue on the other hand refers to anticipated revenue accounted for in the period but has not yet met the criteria for recognition. Accrual of future revenue is actually prohibited by IFRS
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
How new/innavtive assets are to be treated under IFRS?
When Iam entering sales in Tally ERP 9, It Is not reflecting in the stock, Why itt is happends like this ? I entered sales with delivery note Number, So think that is because it is not reflecting in Stocks, and when iam checking in the stocks its saying negative stock
explain circumstances under which dissolution of solvent and insolvent partners are applicable using garners v/s murray rule
Tell me deferred taxation is a part of which equity?
Tell us what is your proudest accomplishment?
At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?
get fixed assets items
what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam
What is a ledger?
Explain have you ever prepared mis reports and what are these?
What is finance lease? What are bonus Shares? entry for it. What is Depreciation? What is the Journal Entry? What is DPS? What is minority Interest? where it is shown?
How to get C forms in online? Plz give me Processor Thanq
how to solve cashbook question
what are cost accounting and its applications?
Tell us how can you define departmental accounting?
