Is there any minimum % completion required to recognise revenue from a particular contract as per AS-7?
Is there any minimum % completion required to recognise revenue from a particular contract as per AS-7?
Hi Divya,
There is no requirement of minimum percentage completion to recognize the revenue.
You can recognize the revenue on the basis of completion.
SSGS and Associates
Chennai
CA Inter
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V.K. Ranjan & Co(Chartered Accountants)
New Delhi
B.Com
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Ahmedabad
CA
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CAclubindia
