International Financial
Reporting Standards (IFRS) Notes
IFRS Notes
11105
If contract outcome cannot be estimated reliably
Percentage of completion method isnot
used, if the contract outcome cannotbe estimated reliably
ias 11-pr32 if the contract outcomecannotbe estimated reliably,
(1) revenue is recognised up to the contract costs recoverable
(2) costs are recognised, as an expense, when they are incurred
(3) expected loss on the contract is recognised immediately