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Work in progress in construction contracts

Should WIP in construction contracts be accounted for as per IAS 2 Inventories?

asked Feb 3, 2013 in IAS 2 - Inventories by AnaY Level 2 Member (3,240 points)
retagged Feb 16, 2013 by Visio

1 Answer

0 votes
No. IAS 2 Inventories is not applied for WIP in construction contracts it is accounted for as per IAS 11
answered Feb 3, 2013 by anonymous