https://www.taxtmi.com/manuals?id=1296 This standard prescribes tax recognition and measurement of revenue from sale of goods, services, interest, royalties, and dividends. Sale of goods requires both transfer of property or significant risks and rewards and reasonable certainty of collection; agency revenue is commission. Services use the percentage completion method (or straight line where appropriate), with short duration contracts recognised on completion. Interest accrues on a time basis; royalties follow agreement unless substance requires another systematic basis; dividends follow the Act. Transitional rules and specified disclosures for unrecognised amounts, service contracts in progress, advances and retentions apply. en-us Fri, 20 Nov 2015 10:41:00 +0530 Tue, 27 Jun 2023 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1296 This standard prescribes tax recognition and measurement of revenue from sale of goods, services, interest, royalties, and dividends. Sale of goods requires both transfer of property or significant risks and rewards and reasonable certainty of collection; agency revenue is commission. Services use the percentage completion method (or straight line where appropriate), with short duration contracts recognised on completion. Interest accrues on a time basis; royalties follow agreement unless substance requires another systematic basis; dividends follow the Act. Transitional rules and specified disclosures for unrecognised amounts, service contracts in progress, advances and retentions apply. Manuals Income Tax Fri, 20 Nov 2015 10:41:00 +0530 https://www.taxtmi.com/manuals?id=1296