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Construction contracts-COS in income statement

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Construction contracts-COS in income statement

  • This topic has 1 reply, 2 voices, and was last updated 14 years ago by MikeLittle.
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  • November 29, 2010 at 10:48 pm #46374
    valentinat171
    Member
    • Topics: 18
    • Replies: 34
    • ☆☆

    Dear Tutor,

    If I show the COS as a balancing figure in my income statement, will I still be able to collect the full mark for that? Or do I need to show the calculation of the COS to earn the mark?

    Many thanks,
    Valentina

    November 30, 2010 at 11:01 am #72074
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23318
    • ☆☆☆☆☆

    If it’s the correct figure, the marker will not be interested in “how” you got there. However, if it’s incorrect – say you have applied the correct principles but have made a calculator error – then showing your workings could very well save you from losing ALL the marks for that figure

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