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7. Prepayments and other current assets

12 Months Ended

Dec. 31, 2012

Prepayments and other current assets

7  Prepayments and other current assets   Prepayment and other current assets mainly represent deposits for purchases and services, rental and utilities deposits, and prepaid expenses. The other current assets also include cost of estimated earnings in excess of billing.   Cost and estimated earnings in excess of billings

		2012				2011
		US$’000				US$’000
Contracts costs incurred plus estimated earnings			3,785				8,604
Less: Progress billings			(3,684	)			(8,098	)
Cost and estimated earnings in excess of billings			101				506

ZHEJIANG

Prepayments and other current assets

7  Prepayments and other current assets   Prepayment and other current assets mainly represent deposits for bidding projects, deposits for purchases and services and prepaid expenses.   The other current assets also include cost of estimated earnings in excess of billing.   Cost and estimated earnings in excess of billings

		2012				2011
		RMB’000				RMB’000
Contracts costs incurred plus estimated earnings			198,706				117,105
Less: Progress billings			(98,957	)			(53,574	)
Cost and estimated earnings in excess of billings			99,749				63,531

X

- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.17)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

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Period Type:	duration