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June 2010 Q2 Construction Contract-Receivables

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › June 2010 Q2 Construction Contract-Receivables

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by MikeLittle.
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  • December 2, 2013 at 10:37 am #149027
    skokst
    Member
    • Topics: 8
    • Replies: 6
    • ☆

    Amount due from customers, why do we include depreciation of a plant when calculating Receivables?

    December 2, 2013 at 5:42 pm #149258
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23309
    • ☆☆☆☆☆

    Don’t think of it as depreciation – think of it as part of “Costs to date” – it’s the value of the plant used up on the contract so far.

    If you follow my workings in the construction contract lecture, working W2 is Costs to date + attributable profits – amounts invoiced.

    The value of the plant used up to date is surely part of costs to date and that value which has been used up is classically termed “depreciation”

    OK?

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