Ind As 115 || Part 4 Illustration from 31-40 Sep 2025 Exam
Автор: Kushal Mehta Classes
Загружено: 2025-04-03
Просмотров: 182
Ind AS 115 (Indian Accounting Standard 115) is the key standard for recognizing revenue from contracts with customers. It aligns with IFRS 15 and provides a structured framework for businesses to report revenue accurately. This standard ensures consistency across industries by recognizing revenue based on the transfer of control of goods or services.
In this video, we break down Ind AS 115’s five-step model in a simple and easy-to-understand manner. Watch till the end to learn how businesses apply this standard for proper revenue recognition.
Timestamps:
00:00 - Introduction to Ind AS 115
00:45 - What is Ind AS 115?
01:30 - Why is Ind AS 115 important?
02:15 - Core principle of revenue recognition
03:00 - Step 1: Identifying the contract with a customer
04:10 - Step 2: Identifying performance obligations
05:00 - Step 3: Determining the transaction price
06:00 - Step 4: Allocating the transaction price
07:00 - Step 5: Recognizing revenue
08:15 - Exceptions and special cases
09:00 - Final thoughts and summary
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Key Tags
#IndAS115 #RevenueRecognition #AccountingStandards #IFRS15 #Finance #BusinessAccounting
Business accounting • Indian GAAP vs Ind AS • Ind AS vs IFRS • How to recognize revenue • Finance and accounting tutorials • Revenue from Contracts with Customers
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