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 adopted for revenue recognition, the amount of each significant category of revenue recognized during the period, and the amount of revenue arising from exchanges of goods and services. Total income allocation is not specifically required.

Which of the Following Disclosures Are Required Under AASB 118