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Dear Sir, please help me to explain the calculation of contract asset.When contract asset is equal cost to date + profit to date- receivable.When contract asset is equal revenue recognized – amount invoice ?Thank you.
Hi,
Under the current rules it is easiest to record it based on revenue recognised less amount invoiced.
Thanks
Dear sir, but 2 ways of calculation will give 2 different results.Which results will be awarded mark?In BPP, there is some questions solution is 1st way, some questions solution is 2nd way.I do not know which way to apply for each case.Please help me to explain.Thank you.
Hi! is there a video or an article from the FR examining team confirming if this is the method to be used in exams? Because it is really confusing as your videos show the old method too and bpp questions are a mix of old and new method. Which method exactly do we follow
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