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IFRS Notes

11103


Contract Revenue and Costs

Contract revenue = (1) + (2)
(1) initial revenue agreed in the contract
(2) variations

variations in:
(1) contract work
(2) claims
(3) incentive payments

Measurement of contract revenue
at the fair value of
the consideration received or receivable

Contract costs = (1) + (2) + (3)
(1) costs directly related to the contract
 (2) costs that can be allocated to the contract
 (3) costs that can be charged to the customer, under the contract
 

   
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