Financial Education - Sales records in accordance with international reporting standards

The accounting policies adopted for the recognition of revenue from ordinary activities in accordance with the International Financial Reporting Standards' Sales records include the methods used to determine the percentage of completion of the transactions involved in the rendering of services.

In addition to the amount of each category of revenue recognized during the period, which shall show separately at least the revenue from: (i) sale of goods; (ii) rendering of services; (iii) interest; (iv) royalties; (v) dividends; (vi) commissions; (vii) government grants; and (viii) any other significant types of revenue.

According to the above, companies should reflect the accounting policies adopted for the recognition of revenues from ordinary activities, the amount of each category in detail.

An entity shall disclose the following information: (a) The amount of exchange differences recognized in profit or loss during the period, except for those arising from financial instruments measured at fair value through profit or loss.

The amount of exchange differences arising during the period that are classified in a separate component of equity at the end of the period. An entity shall disclose the currency in which the financial statements are presented. When the presentation currency is different from the functional currency, an entity shall state that fact and disclose the functional currency and the reason for using a different presentation currency.