Please can anyone guide on accounting, treatment and presentation of the following as per IFRS:
WIP, Accrued Income, Deferred Income.
Thank you,
Suresh
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Please can anyone guide on accounting, treatment and presentation of the following as per IFRS:
WIP, Accrued Income, Deferred Income.
Thank you,
Suresh
Quote:
Originally Posted by sureshvaik
Work in Process will appear as part of inventory IAS 2. It comprises cost of materials, labour and appropriate charge of overheads
Accrued Income is shown as income earned in the income statement and as a receivable in the current assets section of the balance sheet.
Deferred Income is income received but not earned appears as a current liability
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