Question: Under IFRS, where a right to return exists, this right does not need to be disclosed or accrued anywhere. this right is disclosed in the
Under IFRS, where a right to return exists,
this right does not need to be disclosed or accrued anywhere.
this right is disclosed in the financial statements, no accrual necessary.
sales returns and allowances are recognized as contra accounts to Revenues and Accounts Receivable. a refund liability is recognized.
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