Menu
AS 9 Revenue Recognition
How to recognise Purchase?
Replies (3)
Purchase shall be recognised as in similar to sales, that is when risk and rewards are transferred to the purchaser.
purchase shud be recorded when the invoice is received from the seller
the purchase should be recognized when the invoice is raised, payment is made or the party is debited in the books of accounts whichever is earlier
Recent Topic
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
Related Topics
CAclubindia
