07-22-2010, 07:25 PM
what do u mean by forfieted performance bond? is it an equity instrument? debt? or option??<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by aya_girl</i>
<br />How do we treat forfeited performance bonds due to failure of bidder to pursue the contract as required? Should we credit it as revenue? if so, when do we recognize the income? is it during the period the bid was awarded? or during the period the bidder defaulted and contract is cancelled, supposing these 2 events ocurred in different accounting periods? thanks
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<br />How do we treat forfeited performance bonds due to failure of bidder to pursue the contract as required? Should we credit it as revenue? if so, when do we recognize the income? is it during the period the bid was awarded? or during the period the bidder defaulted and contract is cancelled, supposing these 2 events ocurred in different accounting periods? thanks
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