Dear Friends
Please explain me in detail the defination and accounting treatment
of Revenue Swaps as per AS-9.
Gopal Subedi
CA IN PRACTICE... ( CA ) (490 Points)
24 December 2009Dear Friends
Please explain me in detail the defination and accounting treatment
of Revenue Swaps as per AS-9.
Gopal Subedi
MAGESH.G
(STUDENT)
(195 Points)
Replied 24 December 2009
Mr Gopal, AS 9 does not deal with the situation of SWAP/Barter.IFRS-18 deals with this kind of a transaction. Swap is nothing but exchange of goods for goods.
As per
When goods/services are supplied/ rendered in exchange for dissimilar goods/services, the exchange is regarded as a transaction which generates revenue.
In such circumstances the revenue is measured at FV of G/s rendered/receivable, adjusted by the amt of any cash/C.E. t/fd
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