The effect of methods of sales revenues measurement and recognition on the entity's profit
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The development and globalization of the economy as well as extension of the range of sources of revenue make it difficult to determine how to measure, recog-nize in corresponding reporting periods and present in financial statements the revenues of an entity. Applying a common definition to revenues and gains, being in fact different economic categories, as well as using subjective methods of reve-nues valuation based on estimates and their attributing to reporting periods should be the object of discussion in order that some standards and legal regula-tion, especially accounting law, could be amended.
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