Dear All,
I need an opinion on the accounting treatement as per Indian accounting standard or Ind As.
Scenario 1
Company XYZ ltd (listed) owns an Television channel network. It gives an advertisement in print media with company ABC . Instead of paying money to the print media company (ABC); XYZ Ltd allows the print media company to advertise on its television channel in exchange of services provided to XYZ Ltd.
How will XYZ company and the print media company ABC Ltd recognise revenue and expense in this case?
Scenario 2
PMR consultants have provided service to XYZ limited (owns an television channel)
Instead of receiving money for services provided, XYZ limited allows PMR consultants to advertise on its channel in full consideration of the service provided by PMR.
At what value will the transactions be recorded in both the company books?
CAclubindia
