ACCOUNTING
Revenue Recognition- New Standard Deffered
1.The National Advisory Committee on Accountings standards (NACAS) has suggested deferral of
implementation of Ind AS 115 without specifying a new date. NACAS has also not recommended any voluntary adoption of this standard by companies in India. It is now for the Ministry of Corporate Affairs to take a final call on the deferral as well as on voluntary early adoption by companies in India.
1.The National Advisory Committee on Accountings standards (NACAS) has suggested deferral of
implementation of Ind AS 115 without specifying a new date. NACAS has also not recommended any voluntary adoption of this standard by companies in India. It is now for the Ministry of Corporate Affairs to take a final call on the deferral as well as on voluntary early adoption by companies in India.
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