Real Estate
Revenue Recognition at Unit Handover (IFRS 15)
Recognizing the full sale price as revenue when a completed apartment is handed over to the buyer.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Advance from Buyers (Deferred Revenue) | Liability (-) | 750,000.00 | - |
| Property Sales Revenue | Revenue (+) | - | 750,000.00 |
💡 Accountant's Note
Under IFRS 15, control passes to the buyer at handover. The full deferred revenue liability is released to the income statement at that single point in time.
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