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AS 7 Query

Please see the attached question. As per the standard, one of the condition is that variation should be approved by the customer. In the question it is given that the variation in year 2 has been approved by the customer and accordingly the revenue has been increased in year 2. But nothing has been mentioned for year 3, then why year 3 variation has been considered as revenue?

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Deepak Gupta

Deepak Gupta

CA Inter

1K+

30-Sep-20 01:19

32

Answers (1)

Year 3 variation is not added.


Suraj Lakhotia

Suraj Lakhotia

Admin

30-Sep-20 06:41

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