Friday, July 14, 2017

ICDS 4 vs. AS 9

The corresponding AS to ICDS 4 'Revenue Recognition' is AS 9 'Revenue Recognition'.

Point of Difference

AS - 9
ICDS - 4

Does not apply to companies engaged in insurance business.
Silent on the same.
Recognition of revenue from service transactions
Percentage completion method OR
Completed service contract method
Percentage completion method