• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

New! Lectures for ACCA AAA September 2022 Exams are now available >>

New! BPP Books for ACCA September 2022 Exams are now available, get your discount code >>

IFRS 15 vs IAS 11

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IFRS 15 vs IAS 11

  • This topic has 3 replies, 2 voices, and was last updated 9 months ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • September 18, 2021 at 1:30 pm #635976
    jijon
    • Topics: 17
    • Replies: 15
    • ☆

    Sir which approach is correct according to FR exam .Because it is said in the technical article that the IAS 11 approach is over ceded by IFRS 15 when accounting for contract assets and liabilities. However we get a different answer when we account it in IFRS method(by not taking the profit recognized in the calculation). Which approach is actually marked in the FR exam I prefer the IFRS 15 method because it is straightforward but it gives a different contract asset.

    September 21, 2021 at 7:41 pm #636166
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6119
    • ☆☆☆☆☆

    Hi,

    There still has not been any confirmation of which method would be used to calculate the contract asset/liability on the face of the SFP.

    Thanks

    September 23, 2021 at 5:58 am #636343
    jijon
    • Topics: 17
    • Replies: 15
    • ☆

    Yes but we still get mark either way right?

    September 25, 2021 at 8:52 am #636442
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6119
    • ☆☆☆☆☆

    You would have to, and I doubt you would see the question in section A or B given the current options. If it was then it would have to specifically outline how you treat it.

    Thanks

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate

If you have benefited from OpenTuition please donate.

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • John Moffat on Discounted Cash Flow Further Aspects, Lease versus Buy – ACCA Financial Management (FM)
  • ben920331 on Discounted Cash Flow Further Aspects, Lease versus Buy – ACCA Financial Management (FM)
  • John Moffat on The Statement of Financial Position and Income Statement (part d)
  • Viktoriia.Yanchuk on The Statement of Financial Position and Income Statement (part d)
  • John Moffat on The management of receivables – Simple settlement discount – ACCA Financial Management (FM)

Copyright © 2022 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy