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Howmuch provision should I make for an invoice of 100,000/- due for the last 6 months of which 50000 revenue is recognised

The lease period from 01/07/10 to 30/06/2011 payable full in Advance. Howmuch provision should I make as on 31/12/2010.

Asked by: 563 days ago - 1 Answers - 895 views

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    As per the Standard, Revenue is recognised if it is probable. In this case instead of making the provision , we whould just reverse the revenue.

    Answer by Francis Panakkal 563 days ago


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