Just a quick question can someone with an accounting background explain how it is that work performed by the entity and capatalized is revenue in nature. If we strip out this figure of $1,156,000 the profit figure falls to $943,620.
A mining company in this regard could put to profit successful efforts (although not allowed under the mining for extractive industries accounting standard) of exploration.
I just can't see how it is revenue in nature I could see how it is an asset, but not a revenue figure. I am a little confused with what this figure represents, is it an accrual, but surely that would go to revenue.
thanks in advance
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