Contracts

This topic has 1 reply, 2 voices, and was last updated 5 years ago by P2-D2.

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October 5, 2020 at 8:37 pm #587421
adam
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why isn’t a contract considered an asset? It arises from past events and future economic benefits are expected to flow towards the entity which can be measured reliably as a price would have been agreed and the work required also stipulated
October 11, 2020 at 8:26 am #588567
P2-D2
Keymaster
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Hi,

You can’t recognise an asset as it is not prudent to do so, therefore the contract would not be recognised.

Thanks
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