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  1. www2.deloitte.com › content › damInd AS 115 - Revenue from contracts with customers - Deloitte US

    Ind AS 115 is applicable from 1 April 2018, i.e., FY 2018–19. The core principle of Ind AS 115 is that revenue needs to be recognised when an entity transfers the control of goods and services to customers at an amount that the entity expects to be entitled. Ind AS 115 is based on a five-step model shown below: Transition to Ind AS 115

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  3. taxguru.in › chartered-accountant › summary-ind-asSummary of Ind AS-115 Revenue from contracts with customer

    Aug 12, 2020 · Ind AS-115 summary. Applicable from April, 2018) Scope- Applicable to all the contracts with CUSTOMER, except the followings-. CONTRACT: – Agreement between 2 or more parties that creates enforceable rights and obligation. –. –. STEP-1 IDENTIFYING CONTRACT. Again 5 Key Steps- all should be satisfied.

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  4. www.mca.gov.in › Ministry › pdfINDIAN ACCOUNTING STANDARD 115 REVENUE FROM CONTRACTS WITH ...

    5. 6. An entity shall apply this Standard to all contracts with customers, except the following: 1lease contracts within the scope of Ind AS 116, Leases; insurance contracts within the scope of Ind AS 104, Insurance Contracts; ts and Ind AS 28, Investments in Associates and Joint Ventures; and(d) non-monetary exchanges between entities in the ...

  5. kb.icai.org › pdfs › PDFFile62cd5337177242Educational Material on Indian Accounting Standard (Ind AS) 115,

    Aug 2, 2018 · The core principle of Ind AS 115 is that an entity recognises revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This Educational Material contains summary of Ind AS 115 discussing the

  6. old.wirc-icai.org › images › materialInd AS 115, Revenue from Contracts with Customers

    Key facts ± effective da te (Ind AS 115) No provision for early ad option In terim report 201 5- 16 201 5- 16 201 6- 17 2017 -18 Jun Sep Dec Mar Effective da te 1 April 2018 Annual report 31 March 201 9 Ind AS 1 15 issued on 16 Feb 2015 Withdrawn on 30 March 2016 We are here 4

  7. gtw3.grantthornton.in › assets › IAccounting for revenue - the new normal: Ind AS 115

    Step 1: Identify the contract(s) with a customer. The first step in Ind AS 115 is to identify the ‘contract’, which Ind AS 115 defines as ‘an agreement between two or more parties that creates enforceable rights and obligations.’. A contract can be written, oral, or implied by an entity’s customary business practices.

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  9. icai-cds.org › ICAIShop › resourcesEducational Material on Ind AS 115, Revenue from Contracts ...

    The core principle of Ind AS 115 is that an entity recognises revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This Educational Material contains summary of Ind AS 115 discussing the