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Revenue recognition

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2015 Can anyone tell what is the appropriate timing of revenue recognition for a trading business..Is it ok to recognise revenue when sales invoice is raised, as invoice is raised only when we have the goods to be delivered to the party lying at our warehouse, 2nd scenario it is recognised only when goods are delivered to the party.

I am looking for a practice that is currently being followed by traders.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
31 October 2015 It is recognized when goods are delivered to the party.
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