Revenue Recognition - Export Sales

[KIRTI TULSYAN]

Dear Colleagues, 
 
 Can you give your views on the point at which revenue should be recognized 
 in case of exports. 
 
 Should it be at the time of: 
 
 (1) Dispatch from factory 
 (2) LEO date in Shipping Bill 
 (3) Date of Mate's Receipt 
 (4) On Board date in Bill of Lading 
 (5) Any other date 
 
 Is it possible to have an ex-woks sales in case of exports? 
 
 What is the earliest point of time for recognizing revenue in case of an 
 FOB/ CIF contract? 
 
 Thanks & best regards, 
 
 CA Sushanta Raul 
 
REPLY 1 

It should be the on board date in bill of lading. 
That should be maintained consistently. 
Regards, 
Biswadeep Sinha 

REPLY 2

Hi 

revenue recognition for - 

Exports sales on FOB – date of bill of lading 

Exports sales on CIF – date of Dispatch from factory 




-- 
Thanks & Regards 

Vivek Jalan, ACA 
Room No.303 
Century Plaza 
81, N.S.Road 
Kolkata - 700001 

--

Best Regards, 
Kirti Tulsyan
B.Com.,ACA,CS


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