• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

PQ Awards Nominations

Please help us to win one of the PQ Magazine awards and send in the voting form >>
You can nominate us in any or all of the following categories: Online College of the Year, Study Resource of the Year, Private Sector Lecturer of the Year, and Accountancy Personality of the Year.

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

Revenue, costs and profit based ob stage of completion recognition

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Revenue, costs and profit based ob stage of completion recognition

  • This topic has 4 replies, 2 voices, and was last updated 11 months ago by mrjonbain.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • March 2, 2022 at 8:39 am #649621
    ACCA_procrastinator
    Member
    • Topics: 9
    • Replies: 11
    • ☆

    Hello!

    In the revision lecture there was a sentence that we should recognise revenue, costs and profit based on stage of completion.
    I couldn`t find anything about such recognition of costs in IFRS 15. Could you please, advice the point in IFRS 15?

    Regards

    March 2, 2022 at 10:34 am #649632
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1557
    • ☆☆☆☆☆

    Depends on contract in question. You should attempt to recognise performance obligations within the contract and then recognise revenue as these obligations are fulfilled. The above is just two aspects of IFRS 15. If you wish to ask the tutor something directly about above question please use the ask the tutor forum. Hope this helps.

    March 2, 2022 at 10:35 am #649633
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1557
    • ☆☆☆☆☆

    https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-financial-reporting-fr-exams/

    March 4, 2022 at 11:32 am #649807
    ACCA_procrastinator
    Member
    • Topics: 9
    • Replies: 11
    • ☆

    Thank you!

    March 4, 2022 at 4:14 pm #649836
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1557
    • ☆☆☆☆☆

    You are welcome.

  • Author
    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • John Moffat on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures
  • John Moffat on PM Chapter 13 Questions Standard Costing and Basic Variance Analysis
  • abdallah254 on FA Chapter 2 Questions The Statement of Financial Position and Statement of Profit or Loss
  • Iby2012 on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures
  • Iby2012 on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy