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IFRS 115

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 115

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.
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  • May 25, 2020 at 8:35 am #571793
    gayathree1234
    Member
    • Topics: 40
    • Replies: 1
    • ☆

    Hi Sir,

    If an entity constructs a building for the customer,how we must account the construction cost since the building is in progress.I know revenue is recognised when the goods & services are transferred to customers.

    Thank you..

    May 25, 2020 at 3:44 pm #571819
    Stephen Widberg
    Keymaster
    • Topics: 17
    • Replies: 3444
    • ☆☆☆☆☆

    Likely to be a contract asset for the exam – though a tightrope in practice!- do you have a particular exam question in mind?

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