Accounting for Loyalty Points Under Ind AS 115 | Revenue from Contracts with Customers
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- By Taxmann
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- Last Updated on 15 September, 2023
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How does a company in the business of selling goods online through an E-commerce portal recognize revenue when it follows a policy of providing loyalty points on the purchase of goods? These loyalty points can be used by the customers for the purchase of goods from the company at a discounted price. This discussion involves a case study on on accounting for loyalty points under Ind AS 115 putting emphasis on the recognition of revenue and accounting policy.
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