TMI BlogIncome recognition from contract activity - recognition income on reimbursement - AS-7 - there is no...Income recognition from contract activity - recognition income on reimbursement - AS-7 - there is no change so far as “cost based” percentage completion method in concerned - in the case of reimbursement, there is no profit element, consequently, recognition income of such reimbursement is not appropriate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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