The Accounting Advisory Services (AAS) team at BDO India is pleased to share, 'THE STANDARD STANCE' - An expert insight into key accounting matters. Each monthly issue of the publication will spotlight and discuss a key accounting matter noteworthy for organisations to stay ahead in their business journeys.
 
This issue of THE STANDARD STANCE SOFTWARE INDUSTRY: DECODING TOP CHALLENGES IN REVENUE RECOGNITION
highlights ten key challenges software entities need to deal with for revenue recognition under Ind AS 115.
 
A software entity applies Ind AS 115 Revenue from Contracts with Customers to recognise revenue from a contract with a customer. This revenue recognition guidance is industry agnostic; however, software entities face unique challenges in applying certain aspects of the guidance because of the judgements inherent in applying the guidance, the unique nature of software products and the continuous evolution of the software industry in terms of software products or pricing practices.

For a detailed understanding on revenue recognition under Ind AS 115  

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