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AS-9 REVENUE RECOGNITION

This query is : Resolved 
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25 May 2011 A TOUR &TRAVEL CO. WHICH ENGAGE IN BOOKING OF TICKETS & EARN SERVICE CHARGES THEEOF CAN BOOK INCOME ON TICKETS WHICH BOOKED IN MARCH-11 FOR MAKING TRAVEL IN APRIL & MAY-11.
i.e. bill date is of march-11 but travel date is of Apr & may-11
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Ashok Asthana

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Ashok Asthana (Expert)
26 May 2011 Book revenue as per bill date.
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CA Chandra Kishore Bajpai

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CA Chandra Kishore Bajpai (Expert)
26 May 2011 Revenue from service transactions should be reecognised as and when service is performed, as in your case service is already completed when ticket is booked & deliverd thus it should be recognised in the month of March.
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