Rev from Contracts

This topic has 1 reply, 2 voices, and was last updated 6 years ago by Stephen Widberg.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
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: 17
- Replies: 3459
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!
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.