|
11104 |
Recognition of revenue and costs
When the contract outcome can be estimated reliably
Percentage of completion method
ias 11-pr22
Contract revenue and costs are recognised
by reference to the
stage of completion
of the contract
ias 11-pr25
by reference to the
stage of completion
of the contract
is called as percentage of completion method
ias 11-pr26
contract revenue is recognised in the period when
the work is performed
contract costs are recognised, as an expense, in the period when
the work
related with the costs
is performed
Expected losses
ias 11-pr22
if it is probable that (1) > (2),
recognise expected loss, as an
expense, immediately
(1) total contract costs
(2) total contract revenue
|
International Accounting
Standards (IAS)