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Accounting for non compete income

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(Querist)
21 January 2015 Hi all,

What accounting standard should we use to see treatment that needs to be followed in following case,
Company A has committed to pay comapny B 100mn to buy some rights. A has already paid 60mn out of it and balance 40mn is to be paid on certain conditions being satisfied. I want to know that how do we treat the balance 40 million? and what accounting standard would apply to it. This is not a sale in ordinary course of business.

Thanks for your time!
Regards,
Dhwani
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Amol S Joglekar

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Amol S Joglekar (Expert)
21 January 2015 Follow AS 26, Accounting for Intangibles.
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