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Tags
#cfa-level-1 #reading-25-understanding-income-statement #revenue-recognition
Question
For installment sales under IFRS, Revenue attributable to the sale price is recognized [...], and revenue attributable to the interest component is recognized over time.
Answer
at the date of sale

Tags
#cfa-level-1 #reading-25-understanding-income-statement #revenue-recognition
Question
For installment sales under IFRS, Revenue attributable to the sale price is recognized [...], and revenue attributable to the interest component is recognized over time.
Answer
?

Tags
#cfa-level-1 #reading-25-understanding-income-statement #revenue-recognition
Question
For installment sales under IFRS, Revenue attributable to the sale price is recognized [...], and revenue attributable to the interest component is recognized over time.
Answer
at the date of sale
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For installment sales under IFRS, Revenue attributable to the sale price is recognized at the date of sale, and revenue attributable to the interest component is recognized over time.

Original toplevel document

3.2.2. Installment Sales
rvices are rendered, independent of the period in which cash payments for those goods or services are received. This principle applies even to installment sales —sales in which proceeds are to be paid in installments over an extended period. <span>For installment sales, IFRS separate the installments into the sale price, which is the discounted present value of the installment payments, and an interest component. Revenue attributable to the sale price is recognized at the date of sale, and revenue attributable to the interest component is recognized over time.18 International standards note, however, that the guidance for revenue recognition must be considered in light of local laws regarding the sale of goods in a particular country. Under l

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