Start learning 50% faster. Sign in now
When the performance obligation is satisfied. Under IND AS 115, revenue should be recognized when the performance obligation is satisfied. A performance obligation is defined as a promise to transfer a good or service to a customer. The satisfaction of a performance obligation occurs when control of the promised good or service is transferred to the customer. This means that the customer has the ability to use and benefit from the good or service and also bears the risks and rewards associated with ownership of the good or service.
Who won Booker Prize 2021 for the book “The Promise”?
Where was the 7th India-Indonesia Joint Defence Cooperation Committee meeting held?
Which festival is associated with child marriages that the Rajasthan High Court aimed to curb through a directive?
What are the specific targets announced by Prime Minister Narendra Modi during the 26th edition of the Conference of Parties (CoP-26) in Glasgow, Scotland?
Which microfinance company secured a $25 million loan from the US International Development Finance Corporation?
What record was achieved by India’s GST collections in October 2024, and what was the primary driver behind this growth?
‘Trade Emerge’ for Indian exporters and importers to offer them digital banking and value-added services is being launched by which bank?
What is the target renewable energy capacity that IOCL aims to achieve by 2030?
Which city has launched a special gallery on the Bangladesh Liberation War at the Indian Cultural Centre?