Question
A software company enters into a ₹10 lakh contract
including installation and training. Installation is ₹8 lakh and training ₹2 lakh. Installation completes in March 2024 and training continues till May 2024. As per Ind-AS 115, how much revenue should be recognised by 31st March 2024?Solution
Revenue is recognised as control transfers. Installation completed, so ₹8 lakh recognised. Training is a separate performance obligation to be recognised later.
More Accounts Questions
Which is biotechnological milestone?
Which instrument measures calories:
In onion, pink color is due to:
Specific gravity of the whole milk is:
Enzyme used for the production of High-fructose corn syrup?
The residual extract for alcoholic beverages is 50 by FSSAI standard. The analysis report of your sample is found as 112. It is due to
Which is not related to agriculture?
What is the full form of NOEL?
Atomization is a unit operation, which is used for
a) Size-reduction operation
b) It is used for the Solid food ...
Niacin is
