HKAS 18 :Revenue QUIZ: Fun. Q1 Not recognized. No economic inflow Q2 Contingent rent; Actual figure happen- recognized; Estimated figure – not recognized.

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Presentation transcript:

HKAS 18 :Revenue QUIZ: Fun

Q1 Not recognized. No economic inflow Q2 Contingent rent; Actual figure happen- recognized; Estimated figure – not recognized Q3 Not recognized, No transfer significant risks and rewards Q4 Not recognized. Recognized when the refund period is end. Q5. Recognized: significant risks and rewards of ownership Q6 Recognized. Transfer significant risk and reward.

Q7 Not recognized. It is not probable that the economic benefits will flow to the entity; and Q8 Recognized.it is probable that the economic benefits will flow to the entity; and Q9 Answer: expense (provision for Bad debt) Not adjust the original revenue originally recognized Q10 Not recognized. Cost cannot be measured reliably.

Q11 Answer:Dr Bank Cr Deferred revenue - liability- FP Sales of goods not recognise. Rendering of service :revenue shall be recognised only to the extent of the expenses recognised that are recoverable 可補償的. Q12 No profit is recognised. (eg.sales$10 cost $10) This answer is for rendering of service only. Rendering of service :revenue shall be recognised only to the extent of the expenses recognised that are recoverable 可補償的.

Q13 Revenue is not recognised and the costs incurred are recognised as an expense. Q14 Only the post-acquisition portion is recognised as revenue Q15 When dividends on equity securities are declared from pre-acquisition profits, those dividends are deducted from the cost of the securities.