By taking classes from Vishal Jain Sir, I understood what a teacher does and what a mentor does....A great mentor is there for the enlightement of his students 🙇♂🙇♂
These revisions are extremely useful to revise . They helped me to recollect the points that I had forgotten and that were important. Thankyou sir and may god bless you.
Sir at 3:22:47 you said that revenue and cos is recognised according to the measure of progress. But sir there was an amendment 1 year ago which said cos will be recognised at cost incurred till that date. And not according to the progress of contract.
I totally agree with you. When I say that revenue and cost of sales is to be recognised in accordance with measure of progress - the context in which i am saying that is to explain that in case of profitable contracts we recognise revenue and cost normally but in case of loss making contracts we have to follow a different treatment. Hope this clarifies your query.
