IAS 11 Project accounting - contractee's accounting
Date recorded:
Issue
The IFRIC was asked to consider providing guidance on the proper accounting by the contractee as a construction project develops from contract signature to completion.
Decision not to add
September 2004
Reason
The IFRIC agreed not to add this topic to the agenda, as the issue was one of application rather than principle. Also, there was no convincing evidence of widespread problems in practice.
IFRIC reference: IAS 11