What will be the indas 115

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Accepted Answer

Ind AS 115 is a new revenue recognition standard that replaces the existing revenue recognition guidance in Ind AS 18 and Ind AS 11.

Ind AS 115 establishes a comprehensive framework for recognizing revenue from contracts with customers.
It requires entities to identify performance obligations in a contract, determine the transaction price, allocate the transaction price to the performance obligations, and recognize revenue when the performance obligations are satisfied.
The standard impacts various industries, including software, construction, telecommunications, and real estate.
It aims to provide more useful and consistent information to users of financial statements.
Companies need to assess the impact of Ind AS 115 on their financial reporting and implement necessary changes to comply with the new standard.

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