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?

BasimAijaz says

How come the cost to date given in the question and costs we calculate as balancing figure are different?

shehkay says

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?

muhammadazim says

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