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Different Revenue Accounting as per IFRS15 and India GAAP Conventions (Multi-period accounting) when

Received Response
edited Mar 13, 2021 6:03PM in Revenue Management 2 comments


We are using PL with IFRS 15 and SL with India GAAP convention. RMCS is linked to the primary ledger.

We have a requirement for a certain kind of subscription to do revenue accounting as Point in Time in primary ledger from RMCS as per IFRS 15 but to accrue the revenue over time as per India GAAP.

For example, if total subscription is for Rs. 60000 for 1 year, which consists of software support paid upfront, we need the below accounting:

PL (IFRS 15) from RMCS

Contract Liability Dr 60000

Contract Revenue Cr 60000

SL (India GAAP)

Jan-21 Receivables Dr 60000

          Deferred Revenue Cr 60000

          Deferred Revenue Dr 5000

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