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Executory Contract

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Executory Contract

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  • November 23, 2016 at 3:09 pm #350999
    kakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Hi Tutor,

    I saw this term appears in few past paper, is executory contract still examinable ?
    If yes, which accounting standard is relevant ?

    Thanks,

    November 24, 2016 at 10:05 pm #351291
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7187
    • ☆☆☆☆☆

    An executory contract is where the contract is settled at a later date and not immediately, so it could fall under a few different standards (IAS 37,IFRS 9, IAS 17). Essentially anywhere there is a contractual obligation.

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