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Can someone tell me how Indian railways recognise revenue(as per AS-9) from sale of ticket coupons of Mumbai local train? According to me they should recognise the revenue at the time of sale of ticket coupon. But, is it against the revenue recognition criteria prescribed by AS-9? Because, as per AS-9, revenue can be recognised as per two methods: Proportionate completion method and Completed Service Contract method. If it is against the recognition criteria, whether auditors of Indian railways give a qualified report? |
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