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متابعة

How to classify revenue and receivables from free project worth millions carried for Group owner, whereby cash will bot be paid by owner / customer?

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تم إضافة السؤال من قبل مستخدم محذوف‎
تاريخ النشر: 2014/12/06
مستخدم محذوف‎
من قبل مستخدم محذوف‎

Dear Mr. Altaf,

Thanks.

Further to above question, declaration of free projects are not know at the time of execution of projects. We are carrying all projects for owner only (some of them are paid), however in certain cases we do get confirmation at later stage for free project from owner. 

Altaf Bhoon ACA
من قبل Altaf Bhoon ACA , Assistant Finance Manager , Atlantic Maritime Group FZE

When its free project then nothing will be receivable and no revenue will be recognized as we do not expect to receive any consideration related to project.

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