please tell the reason why As 2 is not applicable to
livestock, agricultural products, minerals, ores and
wip of service providers
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NAccounting standard
Replies (6)
Quick Summary
In case of livestock, agricultural products, minerals etc. IndAs 41 will be applicable
What about wip of service providers?
AS2 is not applicable on WIP for service providers
Actually I want to know why ?
I think because a specific standard is set in respect of the same (AS9: Revenue recognition in respect of services)
For service providers revenue will be recognised under AS 9 or IndAs 115
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