Question
Explain clearly the conditions for revenue and costs of a construction contract to be recognised and the expenditure of a development project to be deferred
Explain clearly the conditions for revenue and costs of a construction contract to be recognised and the expenditure of a development project to be deferred in accordance with IAS 11 and IAS 38 respectively. What are the main practical problems relating to the implementation of the standards IAS 11 and IAS 38 ?
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Cornerstones of Financial Accounting
Authors: Jay Rich, Jeff Jones
4th edition
978-1337690881, 9781337669450, 1337690880, 1337690899, 1337669458, 978-1337690898
