Revenue recognition
This query is : Resolved
Querist : Anonymous
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.
I am looking for a practice that is currently being followed by traders.
31 October 2015
It is recognized when goods are delivered to the party.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Sales of goods of amount Rs77 lakhs to a party
- ITR WITH 0 TURNOVER
- Value of Perquisite Sec.10 (10CC)
- NRI get transferred fund from his own Indian account to his foreign US account without any approval
- Schedule Dpm under 44ada no account casr
- Automatic MIS from Tally ERP
- How to pay tds on mhada property
- Query related to CA/CS/CMA Firm
- TDS short payment of Rs 120 — how to adjust in new TRACES
- Value of Perquisite Tax Borne by Employer
- ITR-3 - How to show loss in 65(i) - (iii) under under Part A - P & L section and sub section 65?
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
