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This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.

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November 28, 2019 at 11:06 am #554000
alikhakar
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I’m confusing contract costs with contract assets. What are the differences in accounting for both?
November 28, 2019 at 1:07 pm #554027
Stephen Widberg
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Contract costs are the incremental costs of obtaining a contract These costs are recognised as an asset if they are expected to be recovered from the customer. Otherwise they are expensed.
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