https://www.taxtmi.com/news?id=14293 ICDS IV prescribes revenue recognition for ordinary activities including sale of goods, services, interest, royalties and dividends. Sales revenue is recognised when goods and significant risks and rewards transfer and collection is reasonably certain; price escalations and export incentives are recognised only on reasonable certainty of collection. Services revenue is recognised by the percentage completion method with construction-contract principles applied mutatis mutandis. Interest is recognised on a time basis, discount or premium on debt securities is amortised over maturity, royalties accrue as per agreement terms, and dividends follow tax law. Detailed disclosures are required. en-us Sat, 04 Apr 2015 11:17:36 +0530 Thu, 09 Apr 2015 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14293 ICDS IV prescribes revenue recognition for ordinary activities including sale of goods, services, interest, royalties and dividends. Sales revenue is recognised when goods and significant risks and rewards transfer and collection is reasonably certain; price escalations and export incentives are recognised only on reasonable certainty of collection. Services revenue is recognised by the percentage completion method with construction-contract principles applied mutatis mutandis. Interest is recognised on a time basis, discount or premium on debt securities is amortised over maturity, royalties accrue as per agreement terms, and dividends follow tax law. Detailed disclosures are required. News - Sat, 04 Apr 2015 11:17:36 +0530 https://www.taxtmi.com/news?id=14293