 Now, the five steps model, revenue from contracts with customer. The first one is identify the contract with customer. Second is identify performance obligation and third is determine the transaction price and then allocate the transaction price to performance obligation. And then recognize the revenue with or an entity satisfy a purchase obligation. Now one by one, identify contract. The contract has been approved by the parties of the contract. Both parties should agree in writing or maybe sometime with understanding. This party right in relation to the goods or services to be transferred can be identified. The payment terms of the goods and services to be transferred can be identified. In the contract clearly mention what goods and services you want to buy and you are supposed to supply. The contract has a commercial substance. There should be a profit motive in between. It is probable that the consideration to which the entity is entitled in exchange for goods and services will be transferred to the customer. It's very clear. Now a performance obligation to transfer goods and services is satisfied when the goods and services or services are delivered to the customer and customer thereby obtain control on the promised goods or services. Till such time the customer get the control on those goods you cannot recognize the revenue. Sale of product very clear revenue from sale date of sales or date of delivery. So when we are buying on cash basis so there and then transaction is complete. So price is there but on date of delivery sometime we sell the goods and then we get it when the reach is goods to the customer only then we can call it performance performing a service revenue from fees or service service performed and billable. So if you've done a job for somebody if the other party is agreed that the goods or the services rendered and you can build them only then it is recognized. So buying use of assets revenue from interest rent royalties at time passes or assets are used. You know sometime we rent out our assets so the rent you receive on time basis. Royalties in case of for example we as a book let's say an author you receive royalty depending upon what agreement you enter into. So there should be an agreement is it on production basis or is it on sale basis. Sale of assets other than inventory gain or loss and disposal date of sale or trading. So if sometime we are selling our outdated assets so whatever amount we are getting on the date of sale that will be the price. The amount of consideration that come expect to receive from a customer the in a contract is often easily determined because customer agreed to pay a fixed amount. Usually that's how it is that the amount is fixed in terms of in certain cases other contract companies must consider if there is a variable consideration. If you do this job you'll get this much if you go on adding and then it's a what you are going to get the variable not fixed but it depends what are you are expecting from your supplier and the buyer. Time value of money as I earlier explained this thing that if it's delayed let's say for a year then you should not just record what you are paying I mean agreed today but you must work it out its present value and that will be recorded. Non-cash consideration sometime we are giving barter system you know so that is also we again mentioned clearly. Consideration paid or payable to customer sometime it happens that if the customer give you certain let's say jobs to do and in return they expect you something to pay that should also be agreed. What a contract has multiple performance obligation and entity will allocate transfer pricing to the purchase obligation in the contract by reference to the standalone selling price this is slightly I will give you an example in the numerical case that it happens sometime that there is multiple performance not just one go you do this this this and accordingly you fix the price for each stage of performance if standalone selling price is not directly observable the entity will need to estimate it by various methods so the methods are there adjusted market assessment expected cost residual approach provide if it is not possible. Then a company satisfy its performance obligation when the customer obtain control of the goods and services. So this is the correct of the matter that only you can recognize revenue when the customer get hold on the control of those goods and services control of asset is defined as the ability to direct the use of and obtain substantially all the remaining benefits from the assets. So only then you can see the revenue recognize company satisfied but obligation either at point of time or a period of time. So that is important either it is period of time and over a period of time or at the point of time and a certain particular date. Thank you very much.