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Revenue recognition

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 April 2013 A ad company takes 50% in advance and then performs the service ie makes ad films for the client and after the service is completed, it receives the balance amt. now my question is, when company should recognize revenue?
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Rupesh

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Rupesh (Expert)
26 April 2013 Only when the service is actually provided.
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 April 2013 Thank you for your reply.
But if it is the end of financial year and company has incurred some expenditure on behalf of some projects which is yet to be complete.
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