Which AS got 4eplaced by ind as 115

Question

Accepted Answer

Ind AS 115 replaced AS 9.

Ind AS 115 is the new revenue recognition standard in India.
It replaced AS 9, which was the previous standard for revenue recognition.
Ind AS 115 is based on the IFRS 15 standard.
It provides a single, comprehensive framework for revenue recognition across all industries.
The new standard requires companies to recognize revenue when control of goods or services is transferred to the customer.
It also requires more extensive disclosures about revenue recognition policies and practices.
Ind AS 115 came into effect on April 1, 2018.
Companies are required to adopt the new standard for financial years beginning on or after that date.

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