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Variable Revenue Recognition Your boss has asked for your help in determining when your...

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Accounting

Variable Revenue Recognition

Your boss has asked for your help in determining when your company is permitted to record management fee as revenue. Your boss believes that other wealth management companies are recording their management fee revenue at the end of each month during the year.

With reference to ASC606, explain to your boss if this would be allowed for your company.

When is it appropriate for Wealth Management Ltd to record management fee revenue?

Please help using FARS

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