Tham khảo tài liệu 'advanced financial accounting 7th edition_5', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 134 Part 2 Financial reporting in practice The fact that there are very few differences between the provisions of SSAP 9 and FRED 28 may be testimony to the absence of controversy surrounding the area of stock and workin-progress although some would argue that it provides evidence of the lack of theoretical work in the area. One interesting development is the recognition that long-term contracts are not confined to the construction industry. While SSAP 9 was drafted in terms of longterm contracts that related to the construction of tangible asssets its principles have been applied to other types of contracts notably those for services. This topic is the subject of IAS 18 Revenue but as the ASB and other standard setters are working on the subject of revenue recognition at present the ASB does not feel it appropriate to propose that the UK adopt the full text of IAS 18. Instead to ensure that accounting for long-term service contracts continues to be addressed in UK standards the relevant paragraphs of IAS 18 have been incorporated into the draft standard. We will discuss these paragraphs later in the chapter. SSAP 13 Accounting for Research and Development and SSAP 4 Accounting for Government Grants which we shall introduce in the second part of the chapter have also been around for some time but are not presently slated for replacement. They contain few issues of principle but SSAP 13 brings us back to the often faced question of when does expenditure result in the creation of an asset Stocks and long-term contracts SSAP 9 SSAP 9 differs from most other statements in that a large proportion of the document is devoted to appendices that deal with practical problems. The ASC was of the view that the problems that arise in this area are of a practical rather than of a theoretical nature. Appendix 1 deals with the relevant practical considerations but as was always the case with appendices it did not form part of the SSAP. There are two other appendices Appendix 2 .
