Explain the five steps that entities take to recognize revenue under IFRS

IFRS Revenue Discussion Forum [WLOs: 1, 2, 3, 4, 5, 6] [CLOs: 1, 2, 3, 4]Prior to beginning work on this discussion forum, read Chapters 4 and 5 of the text. Explain the five steps that entities take to recognize revenue under IFRS 15.Write: Make sure your response addressing the questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate. You may find the Writing Center’s APA: Citing Within Your Paper (Links to an external site.) resource helpful.