Change in accounting policy

AS 1508 views 5 replies

Does change in revenue recognition date from Bill of lading date to Bill of entry in respect of Import purchases amount to a change in accounting policy?

Replies (5)

This is a policy change if such changes is material.

no..this will not amount to change in policy..

Hello Rohit,

Can u please explain your point because change in revenue recognition will have a  material affect on financial statements ?

It is a change in A/c policy

Surely CHANGE in accounting policy


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