If a company signs a contract with a customer for online advertisement spanning for 6 months with a value of $500. The customer only pays for 3 months amounting to $250. So how should the company record its revenue from such a contract? Should the entity record revenue using the face value of the contract or actual collections? Please answer using the rules of IFRS.
Jan 16th 2016
Revenue Recognition from Service Contracts with Customers
Revenue recognition from Service Contracts
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