IFRS 15 and IAS 11

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August 26, 2015 at 9:08 pm #268691
account33
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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
August 27, 2015 at 8:38 am #268745
MikeLittle
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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
August 27, 2015 at 8:16 pm #268838
account33
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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?
August 27, 2015 at 9:21 pm #268846
MikeLittle
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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
August 28, 2015 at 4:50 pm #268959
account33
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Found the IFRS15 chapter in course notes. Many thanks
August 28, 2015 at 5:27 pm #268966
MikeLittle
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You’re welcome
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