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of <h1>AS 09 Revenue Recognition: Guidelines for Sales, Services, and Interest; Excludes Construction, Leases, and Insurance.</h1> Accounting Standard (AS) 09 on Revenue Recognition outlines principles for recognizing revenue in an enterprise's profit and loss statement. It addresses revenue from ordinary activities such as sales of goods, services, and use of enterprise resources yielding interest, royalties, and dividends. The standard excludes revenue from construction contracts, lease agreements, government grants, and insurance contracts. Revenue is recognized when risks and rewards of ownership are transferred, services are performed, or when interest, royalties, and dividends are measurable and collectible. It requires disclosure of deferred revenue due to uncertainties and specifies conditions for recognizing revenue in various scenarios, including instalment sales and service contracts.
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