Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Financial Statement – KAPLAN EXAM KIT – CHAMBERLAIN
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- November 14, 2010 at 9:58 am #45950
Hi Dear
Can any one clear my concept regarding the presentation of ”Prfoit & Loss from Construction Contracts”.OPTION 1
When solving the above title question I took the net figure (Profit of $ 20,000 from Construction contract) and present it after Gross Profit.OPTION 2
or I should follow , as the question solved.Please let me now which is better as per IAS .
November 18, 2010 at 3:08 pm #70539I haven’t got the question book with me, and I can’t remember how it was dealt with in the suggested solution. However, I really don’t think that you will need to worry about the exact positioning of the profit from the construction contract – it’s hardly going to feature in the examiner’s marking scheme! can you really believe that Steve Scott is going to instruct his marking team and say something like “….and if the student has put the construction contract profit in this position, then that’s worth a mark” or equally “….if they haven’t put it in this position, then they lose a mark”?
Don’t worry about it!
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