IAS 11 Construction Contracts
GPTKB entity
Statements (35)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
accounting standard
|
| gptkbp:appliesTo |
fixed price contracts
accounting for construction contracts cost plus contracts |
| gptkbp:category |
accounting standard
|
| gptkbp:criteria |
contract costs can be measured reliably
outcome of contract can be estimated reliably probable that economic benefits will flow to the entity |
| gptkbp:focusesOn |
allocation of contract revenue and costs to accounting periods
recognition of contract revenue and costs |
| https://www.w3.org/2000/01/rdf-schema#label |
IAS 11 Construction Contracts
|
| gptkbp:issuedBy |
gptkb:International_Accounting_Standards_Board
|
| gptkbp:objective |
prescribe the accounting treatment of revenue and costs associated with construction contracts
|
| gptkbp:recognitionMethod |
completed contract method (in rare cases)
percentage of completion |
| gptkbp:relatedStandard |
gptkb:IFRS_15_Revenue_from_Contracts_with_Customers
gptkb:IAS_18_Revenue |
| gptkbp:replacedBy |
gptkb:IFRS_15_Revenue_from_Contracts_with_Customers
|
| gptkbp:requires |
percentage of completion method
|
| gptkbp:requiresDisclosureOf |
contract costs
amount of contract revenue recognized contract revenue forseeable losses recognized as expenses gross amount due from customers gross amount due to customers methods used to determine contract revenue methods used to determine stage of completion |
| gptkbp:scope |
construction of assets
services directly related to construction contracts |
| gptkbp:startDate |
January 1, 1995
|
| gptkbp:status |
withdrawn
|
| gptkbp:supersededStandard |
IAS 11 (1978)
|
| gptkbp:withdrawn |
January 1, 2018
|
| gptkbp:bfsParent |
gptkb:IFRS_15_Revenue_from_Contracts_with_Customers
|
| gptkbp:bfsLayer |
6
|