Solution-Explain the financial recognition in the light of

Explain the financial recognition in the light of ifrs

Reference no: EM132606783

E-Commerce based company running a delivery service business, providing restaurant a delivery service and order service through its online application on which customer orders to restaurants.

Delivery Company take order from customers and send it directly to the restaurant through a tablet given to restaurants.
It charges restaurants 25% commission on order value and also deliver the order to customer through its fleet.
It also charges $1 to customer for each delivery.
It charges 2.5% to restaurant against bank charges if customer pays via credit or debit card, while it pays 1.5% to bank actually.
Some restaurants do their own delivery so company charge them only for order commission which is 10% instead of 25%.

Question 1: Explain the financial recognition in the light of IFRS 15?

Reference no: EM132606783

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Explain the financial recognition in the light of ifrs

Reference no: EM132606783

Reference no: EM132606783

Reviews

Write a Review

Accounting Basics Questions & Answers

Describe lifo as an inventory method

Broadway arts inc produces and sells theater set designs

What is a major advantage of multiple-step income statement

Wynn elects the carry back option

Compute the amount of direct material debited in job

A process with no beginning work in process completed and

Journalize the adjustment for accrued wages

What is the rationale underlying the appropriateness of

Which is not a characteristic of a management control system

A standard costing system a is not typically used by

Firm q and firm r conduct business in a jurisdiction that

Prepare flexible budgets for factory overhead

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