05-06-2003, 03:52 AM
revenue is recognized as Income when ur enforceable right is determined, so for the period upto the Balance sheet date u can accrue as we can see (for verification)that in Bank statement of subsequent period it appears, that means that right is determined on the balance sheet date. In this case it is CORRECT.
If this is not the case, than it is not correct, It also depends the revenue recognition policy of the enterprise.
Muhammad Asif Masood
for islam see,
www.dawateislami.net
If this is not the case, than it is not correct, It also depends the revenue recognition policy of the enterprise.
Muhammad Asif Masood
for islam see,
www.dawateislami.net
