Educational Material on Indian Accounting Standard (Ind AS) 18, Revenue (Revised 2017)
September, 23rd 2017
Indian Accounting Standard (Ind AS) 18, Revenue , prescribes the recognition and measurement principles for revenue arising from certain types of transactions and events. Since revenue is an element which can influence the decisions of the users of the financial statements, the principles prescribed in the Standard need to be applied very carefully. Moreover, with regard to certain provisions, need of practical guidance has been felt. Accordingly, efforts have been made to deal with such implementation issues in this Educational Material which contains summary of Ind AS 18 discussing the key requirements of the Standard and the Frequently Asked Questions (FAQs) covering the issues, which are being/expected to be encountered frequently while implementing this Standard.