Revenue is a fundamental component of financial statements as it indicates the income generated by an entity through its primary business activities. Proper recognition of […]
Revenue recognition
Understanding the Audit of Revenue from Operations under AS 9
Accounting Standard AS 9 “Revenue Recognition” defines revenue as the gross inflow of cash, receivables, or other consideration arising in the course of the ordinary […]
Revenue Recognition and Contracts with Customers under Ind AS 115
Revenue is the most significant line item in the financial statements of most entities. It directly reflects the value of goods and services transferred to […]
Accounting for Real Estate Developers: Revenue Recognition Rules, Methods, and Tax Compliance
Revenue recognition in real estate development is one of the most debated and complex issues in financial reporting. The process of determining when revenue should […]
Understanding Revenue Recognition Under Ind AS 115 and When to Defer Revenue
Revenue recognition is one of the most critical aspects of financial reporting. It determines when and how much revenue should be reported in the financial […]