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    Issues in Financial Accounting Study Set 1
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    Exam 3: The Conceptual Framework: Definition, recognition and Measurement of the Elements in General Purpose Financial Statements
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    Compare the FASB Definition of Revenue and the Australian Concept
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Compare the FASB Definition of Revenue and the Australian Concept

Question 34

Question 34

Essay

Compare the FASB definition of revenue and the Australian concept of income.In your answer discuss the treatment of gains in both jurisdictions.

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In Framework 2014 income is defined in pa...

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