Updated Online video classes available for CA,CS,CMA for May20 and Nov20 batch. Call: 1800-3000-0505

As 9 revenue recognition


Prakhar Kalani (CA Final Student)     25 September 2013

Prakhar Kalani
CA Final Student 
 38 points

| My Other Post

What is the accounting treatment of closing stock and other things when revenue is not recognized ?

CA. Mayur (Service)     28 September 2013

CA. Mayur
Service 
 11 likes  147 points

View Profile | My Other Post

Revenue is recognised when substantial risk and rewards related to goods has been passed on from seller to buyer. In case where inventory has been transferred but seller possess the substantial risk and reward than revenue will not be recognised and such transfer will be considered as stock transfers and not sale. In such cases the buyer will not be principal but instead he will act as agent of seller.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »