Hi
If its loss making then we take all cost to p&l, but am unsure how to treat in sofp. In some questions it gets you to work out percentage completion and you then have to apply this to
the profit and then add only the costs incurred to date and then deduct
What has been invoiced to the client to arrive at figure for sofp, I think that's correct?
CIMA Forums
Construction contracts
9y ago#1Hi,
If it is loss making then the loss is recognised as part of the amounts due from customers and deducted.
Thanks
Sign into reply to this topic.