Revenue Recognization Question. What is the significant difference between the Contract-Based Approach (IFRS) and Earnings Approach (ASPE)? Please provide an example for each for a better understanding.

Q: What is meant by the following terms? You should provide an example of each to support your answer.…

A: Revenue Income: Revenue is the term used by any entity which earns income from its main operation…

Q: Describe following:* Market approach* Income approach* Cost approach

A: Market Approach:   Market approach is a method used to assess the value of an asset depending on the…

Q: r to pay un

A: Horizontal analysis :  Financial analysts use horizontal analysis, also known as trend analysis or…

Q: Which of the following should be avoided in a contract if cost certainty is important?…

A: Several options have been proposed as the clause that should be avoided in a contract if cost…

Q: How is the contract-based approach (IFRS) and the earnings approach (ASPE) used for allocating the…

A: The contract-based approach, as defined in IFRS 15 (Revenue from Contracts with Customers), is a…

Q: what are the concepts of revenue recognition?

A: Definition:   Revenue recognition principle: Revenue recognition principle states that every…

Q: Compare and contrast the historical cost accounting model with the fair value accounting model. What…

A: The cost accounting model is a method of accounting that focuses on the measurement, analysis, and…

Q: standard setters?

A: Earnings management for contracting causes would be an interest in standard setters because of the…

Q: Explain Pass-Through Rates, Yields, and Servicing Fee?

A: Pass-through rateA rate of interest being paid to the investors on the securitized asset after…

Q: Considering that you are franchise owner of a famous MILK TEA Company. As part of your business plan…

A: Profits and losses for a certain future time, such as the following quarter or fiscal year, are…

Q: Explain Prorations, Escrow Costs, and Payments to Third Parties?

A: Prorations, Escrow Costs and Payment to Third Parties all are methods of payments as per different…

Q: Explain an example how to calculate accounting rate of return.

A: The accounting rate of return (ARR) is the percentage rate of return expected on investment or asset…

Q: How does accounting rate of return (ARR) differ from the internal rate ofreturn (IRR)?

A: Introduction: Capital budgeting is an investment criterion or decision making mechanism for…

Q: What is income approach measurement?

A: Step 1 The income approach is a real estate valuation tool that determines fair market value based…

Q: Explain what is meant by the term earnings quality.

A: The term earnings refer to the amount of money the company had earned during a particular period of…

Q: Explain in detail the difference between accounting value and market value.

A: The objective of this question is to understand the difference between accounting value and market…

Q: What are the drivers to the cost of revenue

A: The total cost of producing and delivering a product or service to customers is known as the cost of…

Q: What is net operating income approach, what are the assumptions of this approach. In what…

A: What is net operating income approach, what are the assumptions of this approach. In what conditions…

Q: Which of the following concept is also called as Revenue Recognition Concept? O a. Accrual concept…

A:

Q: What are the revenue credits? Give an example?

A: Meaning of Revenue Credit:Revenue Credit refers to the payments received in advance for services…

Q: What do you mean by the term "income approach"?

A: The income approach is a real estate valuation technique that is computed by dividing the…

Q: Lakeside Inc. is considering replacing old production equipment with state-of-the-art technology…

A: Accounting rate of return (ARR) is a kind of capital budgeting approach that helps in evaluating…