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Hi Mike,
would you mind to help me with following question please.
In question practice chapter 24 IFRS 15, question 4
Cost recognised at 31/10/2014 is 3410 (balance figure)
where is this come from? I can not figure out!!!Thanks in advance.
Revenue recognised is 75% x $4,200,000 = $3,150,000
An overall loss is forecast of $260,000
If we have revenue of $3,150,000 and we’re forecasting a loss of $260,000, how much are the costs to be recognised?
OK?
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