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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
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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
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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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