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ias 38

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › ias 38

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by P2-D2.
Viewing 2 posts - 1 through 2 (of 2 total)
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    Posts
  • August 8, 2019 at 7:48 am #526635
    sguha
    Participant
    • Topics: 64
    • Replies: 42
    • ☆☆

    We expense out any research but incase we doing research on behalf of a customer……at yr end we can show it under current assets under inventory right…..and in the following yr if it gets sold we will take it to cost of sales n show against the revenue received.

    am i right?

    August 9, 2019 at 7:26 am #526785
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7205
    • ☆☆☆☆☆

    Hi,

    If we are doing research for a customer then this will fall under IFRS 15, so we would build up a contract asset and recognise revenue over time.

    Thanks

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