UDC 657
Authors
Moderov S.V.
Abstract
The article discusses the features of accounting for long-term contracts (delivery, provision of services, performance of work) - what remains the same and what has changed or should change. Questions are being addressed, how to take into account the proceeds and the cost of long-term contracts in accordance with IFRS and RAS, how to apply the percentage of completion, what are the features in accounting for long-term contracts. The article contains tables, calculations, three examples.
Keywords
long-term contracts, work contracts, long-term contracts, percentage of completion, assets and liabilities under a contract, performance obligations, provisions for loss-making contracts, IFRS 15 “Revenue from contracts with customers”, RAS 2/2008 “Accounting for construction contracts”.
