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US GAAP and IFRS treated the revenue different ways before the joint issue of new accounting standard by FASB and IASB, which is regarded as IFRS 15.
The Concept statement No 6 under Us GAAP states that revenue is regarded as an amount or other items that lead to an increment in the entity asset or the obligations to be settled or both from transferring of goods or services. It was defined by IAS No 8 issued by IASB as the totality of benefit that accrued to the entity from the normal business activities of the company that is measured in monetary value which contributed to the increase in the asset as well as shareholder’s wealth.

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