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Deposit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Deposit

  • This topic has 1 reply, 2 voices, and was last updated 12 months ago by Stephen Widberg.
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  • July 3, 2021 at 5:05 am #626866
    Noah098
    • Topics: 936
    • Replies: 352
    • ☆☆☆☆☆

    Sir if a deposit becomes non-refundable after 75% of completion of a house then can we recognise it as revenue once 75% of construction is done or we have to wait till we pass control of the asset to the customer?

    July 3, 2021 at 3:52 pm #626915
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2528
    • ☆☆☆☆☆

    I think you recognise it.

    You have an enforceable right to the money for the work that you have completed.

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