Corporate Accounting: Revenue Recognition and Financial Ratios
VerifiedAI Summary
This article discusses the changes brought about in the revenue recognition principle by the introduction of the new standard which is AASB 15. The new standard replaces AASB 118 and AASB 111 and the same helps in appropriate disclosures which is to be provided by the business. The first part deals with revenue recognition and measurement of revenue principles which is stated in AASB 15. The second part deals with performance of the business of Reckon Ltd which is a software-based company. The financial performance of the business is evaluated on the basis of key financial ratios of the business which is effectively computed and analyzed in the above discussion.
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