Revenue – Recognition on the SFP – ACCA Financial Reporting (FR)
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How come the cost to date given in the question and costs we calculate as balancing figure are different?
Hi! I have a doubt, we normally calculate contract asset using the following formula: Profits recognized till date – invoices sent. However, in my bpp books they have used the above formula in some questions and a new formula (revenue – invoices sent) in some questions, How do we know which formula to use in exam?
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