Dear members,
i have one doubt regarding the exceptions given in the AS 9-Revenue Recognition. The standard made exceptions to either realised or unrealised gains on Fixed assets, current assets, and certain others too.
The question is : "whether Loans and Advances, Deposits do cover under this list" Because Current assets in general do not include 'Loans and Advances' So, 'unrealised gain'(interest) in Advances made (say to Creditors) whether it is covered under AS 9.
Awaiting members to share
CAclubindia
