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Hello Sir, It
d help a lot if you could clearly list out which costs are exactly accounted for as assets?The Penalties and the storage facility and the compensation?
Please use the topic not the question name as thread header. If you want to respond please do so in a new thread.
I know it’s a very confusing scenario
Storage facility – contract asset as construction proceeds
Penalty and compensation – unless client is accepting them, I don’t think they can be recognised as assets.
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