IFRS-15 Contract Costing

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For cases where the final price is not yet known, cost sheets will include an estimated price along with an estimation date. The estimate is made based on latest market prices as known on that estimation date.

The estimated prices for all portions of a contract delivery line are updated whenever:

-        A pricing or price rolling takes place

-        The contract terms are changed such that pricing is affected

-        Goods in one of the portions are delivered to or from a counterparty

 

Cost Sheet Tab

Cost sheets for contracts are now automatically created and saved when creating a contract.
Fixed priced Contracts are automatically priced and the final price on a Cost sheet is indicated in Bold.

 

IFRS15 Contract Costing 1

 

Cost sheets for To be fixed Contracts now show an estimated price for each pricing along with the date the price was estimated.  If the pricing is not yet final, the estimated price and the date the estimation was made is shown in italics.

 

IFRS15 Contract Costing 2