22 August 2023
What accounting entries are to be made when the goods are sold but significant risk and rewards are not transferred to the buyer(in transit)?
23 August 2023
Under Ind AS 115, an entity recognizes revenue when it satisfies an identified performance obligation by transferring a promised good or service to a customer. A good or service is considered to be transferred when the customer obtains control. Account it as goods in transit.
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