My company has in their liabilities a “provision for
loss on engineering services contract”.
I don’t understand whether this is a loss the company has actually
incurred as a result of this contract, e.g. it cost them more to do the work
than the revenue they were to receive per the contract? Or, is this item an expression of the costs
yet to be outlaid as the completion of the project isn’t expected until 2014?
No comments:
Post a Comment