When to Recognize Revenue for AMC (Annual Maintenance Contracts)?
Автор: Finance transformation - By Contetra
Загружено: 2022-05-07
Просмотров: 1258
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Everytime we buy a new electronic product like an air conditioner or a washing machine, we tend to make sure that it comes with a warranty period and a guarantee of "servicing" for atleast a year. Do you know how these electronic companies like Voltas, Godrej, LG, Whirlpool and many others account for this "one-year servicing cost"?
Watch this interesting video to find out how Annual Maintenance Contracts (AMC) are accounted as per the new Revenue Recognition standards IndAS 115 & IFRS 15!
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