Revenue is one the most important item, if not the most important, in the financial statements of an entity, any mistake or incorrect treatment and recognition of revenue in the financial
statements may misled the economic users of the financial statements The correct treatment of revenue is simple but yet confusing in the mind of students (by my teaching experience), especially
the presence of other sales transactions, arrangements and agreements that look like legal sales transactions but in substance they are just a window dressing attempt by entities to make the
financial statement look good, hence there is always a need for a comprehensive guide on the correct treatment and recognition of revenue from sales of goods, delivering services and other
sales arrangement, especially in our ever changing and continuous development eraThis book gives you a clear and concise explanation of revenue from sales of goods, delivering of services and
other sales arrangement and agreement such as sales and return arrangement, sales and repurchase agreement, agency sales, joint venture and treatment of advance payment by customers, treatment
of accounting error of principle of treating sales proceed on asset sold as sales of goods and trade by barter, using international accounting standard 18 (IAS 18). This book used ACCA
professional questions as illustrative example with step-by-step model solution provided by the authorThe book is suitable for those preparing for the examination of AAT, ACCA, CIMA, University
and college students studying accounting and related courses.
