07-20-2006, 05:43 AM
haan nabeel
u cant say it to be atually net of following
Closing Stock xxxxUnbilled Revenue xxxxOverbilled Revenue (xxxx)Provision for Expected Losses (xxxx)
it is actuallly wat u hav stated earlier
hav a look at IAS 11,specially the example in the index
it wud help u
dekho basis of IAS treatment
cost complete consider karo ,prudence basis
profit only dat for which u are confident dat u wud earn
and then whatever work u hav done it shud be reduced by whatever u have billed to the customer
look it u dont bill any amount to the customer then ur WIP is cost incurred + profit recogised
and dun confuse urself in closing stock
closing stock is nothing but a future cost which u have incurred today
i think u havent read IAS ,1st get a grip on IAS ad its all over
dont just attempt Q's of zuberi and make basis for conclusions
u cant say it to be atually net of following
Closing Stock xxxxUnbilled Revenue xxxxOverbilled Revenue (xxxx)Provision for Expected Losses (xxxx)
it is actuallly wat u hav stated earlier
hav a look at IAS 11,specially the example in the index
it wud help u
dekho basis of IAS treatment
cost complete consider karo ,prudence basis
profit only dat for which u are confident dat u wud earn
and then whatever work u hav done it shud be reduced by whatever u have billed to the customer
look it u dont bill any amount to the customer then ur WIP is cost incurred + profit recogised
and dun confuse urself in closing stock
closing stock is nothing but a future cost which u have incurred today
i think u havent read IAS ,1st get a grip on IAS ad its all over
dont just attempt Q's of zuberi and make basis for conclusions
