ACCOUNTING STANDARDS (REVENUE RECOGNITION)
This query is : Resolved
18 July 2010
WHAT IS MEANING OF THIS?
REVENUE DOES NOT INCLUDE
CERTAIN TRANSACTIONS OR EVENTS THAT RESULT IN UNREALISED OR REALISED GAINS NAMELY
HOLDING OF NON-CURRENT ASSETS,HOLDING OF CUREENT ASSETS
REVENUE DOES NOT INCLUDE
CERTAIN TRANSACTIONS OR EVENTS THAT RESULT IN UNREALISED OR REALISED GAINS NAMELY
HOLDING OF NON-CURRENT ASSETS,HOLDING OF CUREENT ASSETS
19 July 2010
it means revenue will not be recognized unless sales takes place if mkt value of current assets or fixed assets is increased but there is no sale agreement then it will not be recognised
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