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.
What was a key issue related to regulatory challenges in the Indian telecom industry?
What financial ratio measures the number of days a company can cover its cash expenses without relying on external financing for a certain period?
Which GFR (2017) rule is applicable for GeM?
Which of the following is a BPM practice?
A firm has increasing profits but declining cash flows. The management claims business is doing well. What should an analyst examine to validate the claim?
As per RBI guidelines on fraud risk management in NBFCs, the Special Committee of the Board for Monitoring and Follow-up of cases of Frauds (SCBMF) must...
The recommendation of which committee led to the adoption of the Lead Bank Scheme, which later became the foundation for the Priority Sector Lending (PS...
According to Companies Act 2013, the first annual general meeting should be held within a period of ________ from the date of closing of the first finan...
Ramnaresh & traders initiated their business on 1st April 2007 with ₹ 12,000 by 6000 units at the rate of ₹ 2 per unit. During the year he sold thes...
The main object of the audit of the cash book may be ________.
