Blockchain is an operating system like Microsoft Windows or MacOS. Blockchain is a shared ledger that enables the process of recording transactions and tracking assets. These assets can be tangible items such as a house or intangible item such as copyrighting and patents. Blockchain can enable any item of value to be tracked and traded. Bitcoin is just one example of the many applications that can be run through this operating system.
The traditional method of recording transactions and tracking assets involved the participants of a network keeping their own ledger. This process was expensive as it needed the involvement of intermediaries, which in turn lead to fees being charged. Blockchain can alleviate this process as participants are able to share a ledger. Once the ledger is shared it can be updated through peer to peer replication. This means that each participant in the network acts as both publisher and a subscriber. Blockchain implements a consensus model to validate information, meaning transactions are secure and verifiable.
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What approach to use: A valuation approach is the method used to determine the fair market value of a business.
The most common approaches are:
The market approach is based on finding prices for comparable businesses or transactions in the public or private markets and using them to infer the value of the business or transaction. Two methods to determine the market value of a business are:
The income approach is based on determining future earnings and calculating the present value. Two common approaches are:
This is based on the value of business being equal to the sum of all the parts of the business. Adjusting book value of each asset or liability to fair market value.
So, which do you use: it depends on the specific circumstances of the business being valued.
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Revenue should be recognised when;
Revenue should be recognised on the following bases;
The entity should disclose the accounting policies adopted for the recognition of revenue including the methods adopted to determine the stage of completion of transactions involving the rendering of services.
In addition, the entity should disclose the amount of each category of revenue recognised during the period, showing separately, at a minimum revenue arising from;
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