AS 9 Revenue & AS 10 PPE

AFM Definition, Scope & Accounting Standards including Ind AS Free JAIIB Capsule 27 views Updated
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AFM · Definition, Scope & Accounting Standards including Ind AS
What do Accounting Standard 9 and Accounting Standard 10 deal with in financial reporting?
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AS 9 deals with Revenue Recognition. AS 10 prescribes the accounting treatment for Property, Plant and Equipment (PPE).
Under AS 10, an item of PPE is recognized only if future economic benefits will flow to the enterprise and the cost can be reliably measured.
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AS 9 Revenue & AS 10 PPE — Full Text

What do Accounting Standard 9 and Accounting Standard 10 deal with in financial reporting?

Answer

AS 9 deals with Revenue Recognition. AS 10 prescribes the accounting treatment for Property, Plant and Equipment (PPE).

Additional notes

Under AS 10, an item of PPE is recognized only if future economic benefits will flow to the enterprise and the cost can be reliably measured.

Part of Accounting & Financial Management for Bankers · Definition, Scope & Accounting Standards including Ind AS · Last updated

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