07-22-2006, 05:03 AM
trade discount & cash discount;
yup i also feel i am not clear on what trade discount and cash discount...plz clear this..
contract a/c
infact for wip a/c i also stand by your side and i also justify ur treatment by another viewpoint also,progress billing is just our sales and sales are recorded on accrual basis and not receipt basis
but wat makes me confuse are the following things
nobody among the following has followed urs treatment for contract a/c
means no1 credits contarct a/c with progress billings
javed zuberi
pac
my teacher
otherwise i myself feel dat urs treatment is da best justified
now wat i feel that more important than my concepts are my passing in exams..if i go in exams with these concepts but these are not acknowledged by the examiner than for sure i m da loser
besides WIP and amount due from customers may be the same as per IAS11
B/W i have another question what if the contract is not a long term contract...then wud its treatment be as per IAS2
yup i also feel i am not clear on what trade discount and cash discount...plz clear this..
contract a/c
infact for wip a/c i also stand by your side and i also justify ur treatment by another viewpoint also,progress billing is just our sales and sales are recorded on accrual basis and not receipt basis
but wat makes me confuse are the following things
nobody among the following has followed urs treatment for contract a/c
means no1 credits contarct a/c with progress billings
javed zuberi
pac
my teacher
otherwise i myself feel dat urs treatment is da best justified
now wat i feel that more important than my concepts are my passing in exams..if i go in exams with these concepts but these are not acknowledged by the examiner than for sure i m da loser
besides WIP and amount due from customers may be the same as per IAS11
B/W i have another question what if the contract is not a long term contract...then wud its treatment be as per IAS2
