Question

Using the data from BE6-18, assume that Pennfield cannot reliably measure the outcome of the contract. Explain how this transaction would be accounted for under each scenario:
(a) if Pennfield Construction Corp. is reporting under current IFRS (IAS 11 and 18).
(b) if Pennfield Construction Corp. is reporting under ASPE.


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  • CreatedSeptember 18, 2015
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