Ayushi Jain

There is requirement of automation of cost recognition functionality in Project Management and Accounting, this is required when the project type selected as "Fixed Price" with revenue recognition method of "Completed percentage". This functionality is required to recognize cost based on completed percentage method. However, cost recognition of completed percentage will work in same manner as that of revenue recognition principles.

This requirement is complying with reporting requirement of IND AS- 115 - "Revenue from Contracts with customers". Kindly note that "IND AS - 115" is equivalent to "IFRS 15".

Thanks & Regards,

Ayushi Jain