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CHANGE IN ACCOUNTING POLICY – MEASUREMENT OF STAGE OF COMPLETION FOR CONTRACT WORK Prior to 1 July 2008, where the outcome of a construction contract can be reliably estimated, contract revenue and contract costs are recognised as revenue and expenses respectively by using the stage of completion method. The stage of completion is measured [...] Change In Accounting Policy As A Result Of Adoption Of FRS 140: Investment Property The adoption of this new FRS has resulted in a change in accounting policy for investment properties. Investment properties of the Company are now stated at fair value, representing the open-market value determined by external professional firm of [...] |
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