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

1 HKAS 18 :Revenue QUIZ: Fun

2 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.

3 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.

4 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.

5 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.


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