Revision for Accounting Standards - CA Intermediate (Part 5)

Poojitha Raam Vinay | Last updated: 05 May 2022

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This article revises Accounting Standard 9 (AS 9) on Revenue Recognition for CA Intermediate students. It clarifies the conditions under which revenue should be recognised, focusing on the transfer of significant risks and rewards of ownership. The content also outlines scenarios where revenue recognition might be postponed due to uncertainties and highlights necessary disclosures.

AS 9 Revenue Recognition AS 9 is Not Applicable For When to recognise revenue? Significant Risk and Rewards of ownership is transferred Entity does not retain any Effective control Goods sold Cost can be reliably Measured Collection of the revenue is certain Stage of comp

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About the Author

Poojitha Raam Vinay

Practice

I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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