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Estimate variable consideration

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Reference no: EM132890259

Problem - Variable Consideration - One of the more difficult issues that companies face in recognizing revenue is determining the transaction price. In cases where the consideration in a contract includes a variable amount, an entity should estimate the amount of consideration to which it is entitled in exchange for transferring the promised goods or services.

Required - Discuss the methods a company may use to estimate variable consideration and the situations in which one method may be preferred over another.

Reference no: EM132890259

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