ias 38

This topic has 1 reply, 2 voices, and was last updated 6 years ago by P2-D2.

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August 8, 2019 at 7:48 am #526635
sguha
Participant
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We expense out any research but incase we doing research on behalf of a customer……at yr end we can show it under current assets under inventory right…..and in the following yr if it gets sold we will take it to cost of sales n show against the revenue received.

am i right?
August 9, 2019 at 7:26 am #526785
P2-D2
Keymaster
- Topics: 4
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Hi,

If we are doing research for a customer then this will fall under IFRS 15, so we would build up a contract asset and recognise revenue over time.

Thanks
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