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Explain the disclosure requirements for contracts in progress at the end of the reporting period in accordance with International Accounting Standard (IAS) 11, Construction Contracts.

      

Explain the disclosure requirements for contracts in progress at the end of the reporting period in accordance with International Accounting Standard (IAS) 11, Construction Contracts.

  

Answers


Wilfred
1. The aggregate amount of costs incurred and recognized profits (less recognized losses) to date.
2. The amount of advances received.
3. The amount of retention.
Wilfykil answered the question on February 11, 2019 at 06:25


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