Income Recognition

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Income Recognition (PDF 123KB)

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Author Name:
Pesh Framjee
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Not supplied
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Publication Type:
Information Sheet
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Following the amendment to FRS 5, for the first time there are clear criteria for income recognition. This Guidance Note considers the requirements of FRS 5 and SORP 2005 as well as the implications of SSAP 9.  It explains the more stringent rules that need to be followed when recognising income.

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