https://www.taxtmi.com/acts?id=19805 The Standard requires revenue recognition that reflects the transfer of control of promised goods or services and establishes a core model: identify a contract and distinct performance obligations, determine and, where appropriate, constrain the transaction price, allocate that price on a stand alone selling price basis, and recognise revenue when (or as) each performance obligation is satisfied. It sets scope exclusions, rules for contract combination and modification, measures of progress, treatment of variable consideration and contract costs, presentation as contract assets or liabilities, and comprehensive disclosure obligations. en-us Thu, 04 Jun 2015 13:10:55 +0530 Wed, 13 Sep 2023 18:19:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19805 The Standard requires revenue recognition that reflects the transfer of control of promised goods or services and establishes a core model: identify a contract and distinct performance obligations, determine and, where appropriate, constrain the transaction price, allocate that price on a stand alone selling price basis, and recognise revenue when (or as) each performance obligation is satisfied. It sets scope exclusions, rules for contract combination and modification, measures of progress, treatment of variable consideration and contract costs, presentation as contract assets or liabilities, and comprehensive disclosure obligations. Act-Rules Companies Law Thu, 04 Jun 2015 13:10:55 +0530 https://www.taxtmi.com/acts?id=19805