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Rev from Contracts

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Rev from Contracts

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by Stephen Widberg.
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  • October 19, 2019 at 2:44 pm #550185
    Candy
    Member
    • Topics: 135
    • Replies: 79
    • ☆☆☆

    Dear tutor,

    Q5 We have answer = balancing Cost (9.2) in P/L

    Can you please explain what this figure is?

    If I were to include it in my P/L statement – where would it go?

    I cannot understand if this is cost of sales and where to include.

    Thank you

    October 20, 2019 at 9:03 am #550216
    Stephen Widberg
    Keymaster
    • Topics: 14
    • Replies: 2872
    • ☆☆☆☆☆

    If we make a decision about what what figure to use for revenue and profit…………then costs or COS has to be the balancing figure.

    It’s unusual because normally we make a decision on what figure to use for revenue and cost of sales and then profit is the balancing figure!

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