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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IAS 11 CONSTRUCTION CONTRACT (COST PLUS CONTRACTS)
it says in COST PLUS CONTRACTS ,” the contract costs attributable to the contract, WHETHER OR NOT REIMBURSABLE, can be clearly identified and measured reliably….”
why REIMBURSABLE? like this a contract … so whose gonna reimburse..? how the contract works in this situation?
can u give a practical example of COST PLUS CONTRACTS??
I’m back again to asking you to contact the publisher!
A cost plus contract is one where the costs are added / accumulated as the contract progresses and are invoiced to the customer on a regular basis calculated as “Costs to date + agreed profits calculated based on those costs”
i know f7 paper doesnt ask examples..but if we know how something through some procedures…. it starts making sense and concept…
okay il contact publisher… 🙂
Thanks again