07 September 2017
Dont confuse AS-9 revenue recognition with real estate sector for real estate Revenue recognition is governed by Guidance note 4 factors are there to fullfill revenue recognition
Four Factors are 1.25% of the cost for the project has to be incurred against budgets 2.There should be an Agreement to sell for 25% in terms of square feet of the total project 3.all necessary approvals from goverment authorities has to be obtained 4.atleast 10% of the money has to be realised in cash for the project cost
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