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Construction contracts

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Construction contracts

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by AvatarP2-D2.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • October 9, 2021 at 6:30 pm #637359
    AvatarVarun.J.Thakkar
    Participant
    • Topics: 75
    • Replies: 112
    • ☆☆

    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
    AvatarP2-D2
    Keymaster
    • Topics: 4
    • Replies: 7232
    • ☆☆☆☆☆

    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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