AF210 PASS Week 8 - Revenue Recognition

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Across
  1. 2. Agreement between parties creating enforceable rights and obligations under IFRS 15.
  2. 6. Increase in assets or decrease in liabilities, excluding equity contributions.
  3. 7. A promise in a contract to deliver a distinct good or service.
  4. 9. Customer obtains this when they can direct the use of and benefit from a good or service.
  5. 10. Type of consideration that may change due to discounts, refunds, or returns.
Down
  1. 1. Type of sale where goods remain under the seller’s control until sold to end customers.
  2. 3. Income arising from an entity’s ordinary activities.
  3. 4. Price an entity expects to be entitled to in exchange for promised goods or services.
  4. 5. IFRS 15 requires qualitative and quantitative information of contracts to be reported.
  5. 8. Method of measuring progress toward completion based on costs incurred or resources consumed.