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Determine how creative consulting inc would recognize

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Reference no: EM133001842

On December? 1, 2019?, Creative Consulting Ltd. signed a contract with Riverside ?Inc., which obligated Creative to provide Riverside with 14 hours of consulting services per month from January through December of 2020. The contract requires Riverside to pay a total of $42,000 for these? services, with payments of $3,500 due at the end of each month. Creative has provided similar services to Riverside in the past and has always collected its fees on a timely basis.

Requirement

Problem 1: Using IFRS and ASPE revenue recognition standards as a? guide, determine how Creative Consulting Inc. would recognize revenue from this transaction under both ASPE and IFRS.

Reference no: EM133001842

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