05-06-2010, 07:06 PM
Ok, for instance
On 1-January, student A enrols a course with course duration 1 year and course fee $12,000.
The school recognizes the course fee by 4 terms (1 term = 3 months). So the school recognizes $3,000 on 1-January, 1-April, 1-July and 1-October in the accounting book.
Now assuming student A pays course fee $4,000 on 1-January and none afterwards.
May I know what's the due date (according to IAS, if applicable) of the outstanding $2,000 due from the 2nd recognized course fee?
Is it 1-April (the date to recognize this 2nd portion of the course fee) or 30-June (end of the school term for this 2nd recognized course fee)?
On 1-January, student A enrols a course with course duration 1 year and course fee $12,000.
The school recognizes the course fee by 4 terms (1 term = 3 months). So the school recognizes $3,000 on 1-January, 1-April, 1-July and 1-October in the accounting book.
Now assuming student A pays course fee $4,000 on 1-January and none afterwards.
May I know what's the due date (according to IAS, if applicable) of the outstanding $2,000 due from the 2nd recognized course fee?
Is it 1-April (the date to recognize this 2nd portion of the course fee) or 30-June (end of the school term for this 2nd recognized course fee)?
