Forums › Ask CIMA Tutor Forums › Ask CIMA F2 Tutor Forums › This relates to IFRS 15
- This topic has 0 replies, 1 voice, and was last updated 1 month ago by Deekay2000.
- February 5, 2023 at 11:53 am #678355Deekay2000Participant
- Topics: 1
- Replies: 0
Letseng Diamonds mine made and order for 1000Kgs of dynamite from Complete Blasters (Plc). They stated in their order that they will only accept the delivery of the dynamite if Complete Blasters agrees to cover the cost of any injuries caused by the use of this dynamite blasting material. In the past, injuries have cost Letseng Diamonds M178 000.
Letseng Diamonds have also indicated that they will buy the blasting material on conditions that Complete Blasters provides a single day annual training for the next three years on how the dynamite should be handled in the field of work.
On the 1st of October 2022, Complete Blasters delivers the dynamite at the price of M266.50 per Kg. They also communicated with Letseng`s health and safety management that a single training session bears a standing charge of M110 000.
Explain how Complete Blasters will account for revenue for the year ending 31st December 2022.
- You must be logged in to reply to this topic.