题目
题目

ACCT10001_2025_SM2 Practice Exam 1 - Requires Respondus LockDown Browser

简答题

Consider the following events: On 1 May 2025, a firm receives an order from a customer to deliver 200 units of one of its products at an agreed upon price of $5 per unit. On 20 May 2025, the firm delivers 150 units, and on 15 June 2025 the other 50 units. The firm bills the customer after each delivery over the value of the delivered goods, and requires a 30-day payment period, which the customer fully utilizes. Further assume that the firm follows a standard financial year in Australia (1 July to 30 June). By how much is the recognised revenue in financial year 2024/2025 larger under accrual accounting (IFRS) than under cash accounting? Note: Provide your answer without currency units, i.e., X,XXX, and show your workings.

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思路分析
We start by identifying the timing rules for accrual (IFRS) revenue recognition versus cash accounting. Under accrual accounting, revenue is recognized when control of goods is transferred to the customer, i.e., when the goods are delivered, regardless of when payment is received. Under cash accounting, revenue i......Login to view full explanation

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