Revenue Recognition and Disclosure Practices-Accounting Standard-9 (As-9)-An Overview

This paper highlights the concepts, processes and mechanisms of revenue recognition in business organizations. It also highlights on the Accounting Standards for revenue recognition issued by Institute of Chartered Accountants of India. It also shows a comparative study of revenue recognition from Indian Accounting Standard, International Accounting Standard, and US GAAP. It again highlights the corporate practice of revenue recognition in India.