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Construction contracts

This topic has 1 reply, 2 voices, and was last updated 1 year ago by P2-D2.

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Posts
October 9, 2021 at 6:30 pm #637359
Varun.J.Thakkar
Participant
- Topics: 47
- Replies: 50
Dear sir,
In construction contracts,if input method is used to recognise revenue over time and there is an overall loss( derived from Step 1), then the amount of receivables and Contract asset will be different right?
Just wanted to confirm it with you..
Thanks
October 16, 2021 at 8:21 am #637786
P2-D2
Keymaster
- Topics: 4
- Replies: 6473
Hi,
I wouldn’t try to think about it as such and would just work the question as given and see what the final outcome is. Sometimes trying to take short cuts can backfire at times.
Thanks,
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