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Voices on reporting - Special session: Webinar on Ind AS 115 – Consumer and retail sector

Voices on reporting - Special session

The new standard on revenue recognition for Ind AS compliant companies i.e. Ind AS 115, Revenue from Contracts with Customers is effective for accounting periods beginning on or after 1 April 2018.

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The new standard on revenue recognition for Ind AS compliant companies i.e. Ind AS 115, Revenue from Contracts with Customers is effective for accounting periods beginning on or after 1 April 2018.

The requirements of new standard are expected to affect different companies in different ways and to have a pervasive impact due to the addition of significant new concepts on the recognition, measurement and disclosure of revenue.

Continuing with the series of special sessions on Ind AS 115, this month the Voices on Reporting session focusses on the significant areas of revenue recognition where current guidance under Ind AS is expected to change due to implementation of Ind AS 115 for entities in consumer and retail sector.

The consumer and retail sector is fairly diverse and includes food, drink and consumer goods industry, retailers and agribusiness companies. In this session, we focussed on some of the key implementation areas relevant to this sector, such as:

  • Principal versus agent evaluation
  • Customer loyalty programmes
  • Sales with right of return.


Downloads:

Slidedeck (PDF, 835 KB)

 

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