Applicable Accounting Standards

Pls can u give me a solution fast

Raising invoice is not a requirement of AS-9 . If sales has actually been made you should book the revenue. But there should be a voucher in all cases to support the transaction.

Hi..guys

it is wiithin the purview of AS-9 and we can book the revenue as Unbilled revenue and after that for our documentation & evidenice purpose on behalf of which entry is passed in the books of account should be raise as invoice on holding company.

 for the purpose of AS-9 it is more important for booking the revenue that "significant risk and rewards are transfered to buyer" so if significant risk  and reward trasfer to holding company than  subsidiary can book the revenue.

Originally posted by : Shahrukh khan
	Hi..guys it is wiithin the purview of AS-9 and we can book the revenue as Unbilled revenue and after that for our documentation & evidenice purpose on behalf of which entry is passed in the books of account should be raise as invoice on holding company.  for the purpose of AS-9 it is more important for booking the revenue that "significant risk and rewards are transfered to buyer" so if significant risk  and reward trasfer to holding company than  subsidiary can book the revenue.

 AGREED