Accounting Standards Accounting Standards:def:: List The Accounting Policies
Accounting Standards Accounting Standards:def:: List The Accounting Policies
Accounting Standards Accounting Standards:def:: List The Accounting Policies
Accounting standards:Def:
9- Revenue Recognition.
Revenue has to be measured by the amount charged to the
clients for the sale of goods and services.
However, in the case of the agency relationship, the revenue has to be
measured by the amount charged for commission and not on the gross inflow of the
cash, receivables or
other consideration.
There are few exceptions to the above-mentioned statement where the
special consideration applies: –