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IFRS 15 and IAS 11

Aaccount3310y ago
Would a construction contract question come under IFRS 15? And if so, would the solution be completely different to a solution under IAS 11? Thanks
MikeLittleMikeLittleTutor10y ago#1
IAS 11 is not in your syllabus! In answer to your question, IF a construction contract question came up in the exam, you would apply IFRS 15
Aaccount3310y ago#2
Thanks Mike, I'm using the June 2014 BPP study text. I've googled IFRS15 but I can't establish what parts of the standard I can ignore out of the hundreds of pages of PDFs. Any ideas where I should go for IFRS15 examples apart from buying the September 2015 study text?
MikeLittleMikeLittleTutor10y ago#3
The construction contract questions in the course notes, somewhere around chapter 12 or 13 are still ok for calculating basic profits and for the workings generally. There is now a dedicated chapter (27? 28? 29?) in the course notes that should be good enough for you If you come across any issues, post again
Aaccount3310y ago#4
Found the IFRS15 chapter in course notes. Many thanks
MikeLittleMikeLittleTutor10y ago#5
You're welcome
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