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FRS 102

When to recognise costs for projects?

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Hi,when to recognise costs of products bought for sale in the income statement, especially when these are bought as part of the small project for the client?

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Hallerud at Easter
By DJKL
11th Sep 2019 10:51

When the relevant sales invoice is passed through the accounts, surely.

You just have to consider stock /WIP valuation and matching concept-is this not a pretty simple exercise with cut off?

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By atleastisoundknowledgable...
11th Sep 2019 11:16

Quote:

... is this not a pretty simple exercise with cut off?

Depends whether you’re an accountant/ bookkeeper, or just a business owner trying to save on professional fees.

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