Hello sir
One of the criteria for revenue recognition for services under ias 18 is that the stage of completion must be able to be ascertained. Can you please explain what does it mean>? ( with an example if possible )
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Ias 18 (services)
12y ago#1Construction contracts - get a quantity surveyor (or architect or civil engineer) to determine stage complete.
ok?
ah ok. Thx
Also do you think we are really getting consolidated cash flow for this sitting>?
12y ago#3Cash flow? It's been some time since he asked it - it's time it came up again. That, or a tent structure with a foreign subsidiary
If we get a tent structure with a foreign subsidiary what are some of the easy marks we could accumulate in the exam. It's quite easy to get confused in a consolidation question especially since you under pressure
what is tent structure?
12y ago#6A tent structure is what I call (in the course notes!) a parent with 2 subsidiaries but not in a vertical structure
12y ago#7Anisa
I'm thinking that the marks for translating the foreign subsidiary should be pretty straight forward and the "standard" workings will pick up marks.
Look at the question from June 2008 Ribby - admittedly it has been adapted in the BPP revision kit that I have but it will give you an idea
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