20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for December 2024 exams.
Get your discount code >>

IAS11 – Construction contracts (Example 5) Open tuition materials

This topic has 1 reply, 2 voices, and was last updated 13 years ago by MikeLittle.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
September 13, 2011 at 9:52 pm #49795
tameablebunchy
Participant
- Topics: 2
- Replies: 6
I am having a problem with example 5, I know it says when there is more than one period the amounts are cumulative, but I’m not getting generalize cost recognised can you please offer some explanation.
Thank you.
October 27, 2011 at 12:10 pm #88048
MikeLittle
Keymaster
- Topics: 27
- Replies: 23200
From memory, isn’t example 5 where there is a forecast loss over the whole contract? If so, general costs is the balancing figure necessary to result in recognizing in full the forecast loss in the year in which it is first forecast?
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.