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In finding out amonts due from customers what value do we take as costs to date?
Cz im getting a different amount than the kit answerThere are two components of “Amounts due from customers”
Firstly there is the “unbilled work in progress” from working 2
Then there is the Account receivable ( the difference between invoiced amount and amounts actually received )
Does your answer now coincide?
No sir,tha amount they have taken as costs to date doesnt reconcile.pls help
Is a loss forecast on the contract? If so, the costs recognised will be the balancing figure from working 1.
Are there any “period specific” costs to date which should be recognised in full in the appropriate period?
If neither of those works, then I’ll have to find the question and get back to you 🙁
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