Revenue Recognition Step 3: Determine Transaction Price

IN the session, I discuss revenue recognition step 3 which is determining the transaction price
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[@nicolebarker3256]

What did you mean by compute interest to 7.72?

[@mahmoudmohsen8105]

Thanks alot, Prof but I'm quite confused on why should not we debit the possible discount on volume to a different account JIC it got forfeited then reverse the effect all within the limit of this specific account instead of what looks like messing with the revenue

[@kuangtan2004]

May I know how the 7.72% is calculated ?

[@jeybf8499]

It's nice but u'r so fast

[@AccountingLectures]

It will be taken into consideration, you also can adjust the video play speed. Thank you and please visit the website for more farhatlectures.com/

[@jonnathanjon1]

Pls share the best practice of Revenue recognition for OEM items when the Gross Revenue is different than the net Revenue.

[@auratorres9144]

I don’t understand why the cash is 550000

[@NS-tz3nt]

Hello , On your website , under intermediate 1 , I don’t see a revenue recognition chapter . Is there another course on your website that covers this & with all new IFRS standards ? I’m currently a Canadian intermediate accounting 1 student , with a professor that does not go over anything and has basically said class time is for you to self learn instead . Unfortunately our new textbooks don’t explain either ….I’m trying to find anything where I can have someone explain all the material of this course like a teacher should , even if I have to pay for it online . I appreciate the way you explain things and would like to know if your website course would still work for Canadian cpa students learning IFRS way ? And where would I find the revenue recognition chapter , on your website ? (Our module 4 is revenue recognition for both IFRS, and aspe and we have 4 days to learn it all )

[@reachsls]

if we do 7.72% on 800000 each year for 3 years the total amount is 185256. This means there will be a credit balance of 14744 in the Discount on Notes Receivables account at the end of 3 years. how will that get adjusted?

[@labcdel4384]

Hello prof farhat, are these recent revenue recognition videos applicable to IFRS?

[@AccountingLectures]

US GAAP and IFRS have the same rule for revenue recognition: farhatlectures.pathwright.com/library/

[@KP_Sah]

So important topic, and all i am concerned about is "why is he smiling everywhere?🙄

[@tar2mamakhay116]

How do one come up with those percentages you allocated???

[@ashleyhawkins8809]

Thank you for making this easy to understand!

[@AccountingLectures]

Glad it was helpful! Please take a look at my website: farhatlectures.com/