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Week 5 comparing ifrs and gaap paper uploaded by lafarrahgodschildsmith-houston compare and contrast the rules regarding revenue. Revenue models in business, revenue typically consists of the total amount of money received by the company for goods sold or services provided during a certain time.
Ias 18 outlines the accounting requirements for when to recognise revenue from the sale of goods, rendering of services and for interest, royalties and dividends.
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