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?
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?
I like your, natural, way of teaching….stay blessed always……!