Storage Services Corporation recognizes revenue under the earnings approach. Explain how uncertainty about collectability would affect revenue

Question:

Storage Services recognizes revenue under the earnings approach. Explain how uncertainty about collectability would affect revenue recognition if Storage prepares in accordance with
(a) ASPE or
(b) IFRS.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...