Contract WIP Schedule
Recalculate revenue on contracts in progress and find loss contracts not fully provided.
- Ledger + contract WIP schedule
How the result is read
Revenue on a contract satisfied over time follows its progress (IFRS 15.35–45, ASC 606-10-25-27 and 55-17, FRS 102 section 23). Measured by cost, progress is cost to date over estimated total cost, and revenue earned is that share of the price; anything recognised beyond it is revenue brought forward. Billing on either side of revenue earned is a contract asset or a contract liability. A contract whose estimated cost exceeds its price is onerous, and the whole expected loss is provided at once (IAS 37.66, ASC 605-35-25-46), whatever stage it has reached.
In the application
Contract WIP Schedule is filed under Revenue & receivables, index letter C. "Run all analyses" runs it with every other analysis the ledger and the documents loaded can answer. The worksheet states the population it tested on its face — or "Not applicable" with the reason when a column it depends on is empty — and the Excel workbook the engagement exports files it under C, beside an index of the source files with their SHA-256 fingerprints.
Read it with
Run your next audit file test without the Excel crash.
One free engagement to evaluate, valid 60 days. The ledger never leaves the machine.
- 20 minutes
- Runs on a fictional engagement
- No client data required