One of our client sold good to Govt corporation and as per the agreement 50% payment will be on installation and the remaining amount in equal instalment of 4 years. At the end of 4rth year the ownership of goods transferred to the Corporation..When we have to account the sale and how to recognise the Revenue and in what proportion..
Your early reply is very much appreciated
So as you say ownership was transferred at the end of 4th year, recognise at that time
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CA Inter
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Murali and Sumeet Chartered Accountant
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CA Foundation
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B.Com
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CCI
Pro
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