Having said that, in this case, revenue is to be acknowledged from the construction of contracts. building contracts could possibly be either fixed or Value moreover contracts or a mix of the two (IAS 11 2011).
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Regardless that they were Nearly identical, the different comprehension of income resulted in various ways of treating profits in monetary accounting. The IASB thought they'd not supplied adequate income criteria, policies and techniques on how earnings was handled (IAS eighteen 1993).
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