Which of the following disclosures are required under AASB 118?
I total income, allocated between revenue and other gains
II the accounting policies adopted for revenue recognition
III the amount of each significant category of revenue recognised during the period
IV the amount of revenue arising from exchanges of goods and services.

Question

Quizplus · Accepted Answer

AASB 118 requires disclosures of the accounting policies for revenue recognition, the amount of each significant category of revenue, and revenue from exchanges of goods and services. Total income allocation is not specifically required.

Which of the Following Disclosures Are Required Under AASB 118