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What is Revenue Recognition Under AS 9 about?

Accounting Standard 9 outlines the principles of revenue recognition, defining revenue as the gross inflow of cash or receivables from the sale of goods, rendering of services, and use of resources yielding interest, royalties, and dividends. It specifies criteria for recognizing revenue from sales, services, and other income, emphasizing the need for reliable measurement and certainty of collection. Additionally, it provides guidance on postponement of revenue recognition and the presentation of turnover.

Author

Subhransu Nayak

Language

EN