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IFRS 15 Revenue from Contracts with Customers became mandatory for accounting...

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Accounting

IFRS 15 Revenue from Contracts with Customers became mandatory for accounting periods beginning on or after 1 January 2018: (i) Identify the five steps which must be followed by businesses when recognising revenue from contracts with a customer. (ii) Explain how IFRS 15 is expected to improve the financial reporting of revenue.

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