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Recognition of Revenue AS9

This query is : Resolved 
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(Querist)
28 October 2008 dear Experts,
At first i wish you a happy diwali,

sir i have a query-

1)A Tour Operator( Pvt Co.) who arranges foreign tours receives advances on 1/1/2008 for the tour which will commence on 15/04/2008.The tour operator makes profit out of some commission on Air tickets and also a service charge from customers.he follows accrual system of Accounting.

my specific query is when the tour operator should realise the revenue.
is it
(a)in the FY 07-08, on the date of receipt or
(b) in the FY 08-08 in the year in which the tour actually commences.


thanking you sir
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
29 October 2008 Please let us know what method the operator follows-cash or accrual?
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