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Work in progress in construction contracts

asked Feb 3, 2013 in IAS 2 - Inventories by AnaY Level 2 Member (3.2k points)
retagged Feb 17, 2013 by Visio

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

wip
construction-contracts

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answered Feb 3, 2013 by anonymous

No. IAS 2 Inventories is not applied for WIP in construction contracts it is accounted for as per IAS 11

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