Per FRS115, para 35, there are 3 criteria for revenue should be recognised over time if one of the criteria is met as mentioned in 35 (a), (b), or (c).
Only one of the criteria is met, not all of the three criteria.
If none of the criteria is met, revenue is recognised at a point of time. It is not a choice between them.
When apply discount on lack of marketability (DLOM) and lack of control (DLOC) on enterprise value (EV), it is a multiple of EV x (1-DLOM) x (1-DLOC). But apply the discount on Equity value would lowe
In accordance with SFRS109, investment in equity instruments must be subsequently measured at fair value. In limited circumstances, cost represents the best estimate when recent information not avail
In contract revenue to recognise using input method, one of the key audit procedures is to ascertain the budgeted cost of the project contract is reasonable. We need to test the underlining assumptio