Session delivered by FAME at BITS Pilani Dubai Campus on 18.10.2016
The Revenue Recognition Principle is a cornerstone of Accrual Accounting together with the matching principle.
BITS Pilani Dubai Campus invited CA Ashwin Dedhia –Mentor, FAME Training Institute to deliver a session Revenue Recognition Principle and its impact on Accounting Records. Mr. Ashwin Dedhia, a Chartered Accountant by profession addressed to a group of Engineering Students pursuing Management Education.
CA Ashwin Dedhia addressed the topics like Revenue Recognition concept and its significance, Matching principle and its importance, Understanding the concept of Prepaid Expenses, Outstanding Expenses, Accrued Revenue, Prepaid Revenue and many more.
CA Ashwin Dedhia addressed the students and shared that Revenue Recognition principle and matching principle forms the basis for Accrual basis of Accounting. They both determine the accounting period in which revenues and expenses are recognised.
During this session, students asked various questions related to the presented topics, as well as other questions related to the Accrual Accounting. CA Ashwin Dedhia provided adequate answers for all the questions asked by students. The session was knowledgeable and Prof. Sriniwas Rao and Prof Prasad from BITS Pilani thanked CA Ashwin Dedhia for demonstrating his understanding on Revenue Recognition and for sharing his knowledge on the same.