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Revenue is recognized when it is earned and both GAAP and
IFRS revenue recogniti
Revenue is recognized when it is earned and both GAAP and
IFRS revenue recognition principle is the same; therefore once the there is
transfer of ownership of goods and services then the revenue is recognized
under the two standards.
Even though
GAAP and IFRS both have the same revenue recognition principle but when it
comes on how the revenue is recognized, there are some differences. I believe
that we will see a higher 20% ratio for IFRS companies due to revenue
recognition.
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