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7. Prepayments and other current assets | 12 Months Ended
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Dec. 31, 2015
Prepayments and other current assets | Prepayment and other current assets mainly represent deposits for purchases and services, rental and utilities deposits, and prepaid expenses.
ZHEJIANG JIAHUAN |
Prepayments and other current assets | Prepayment and other current assets mainly represent deposits for bidding projects, deposits for purchases and services and prepaid expenses.
|  | 2015 |  |  | 2014 |
|  | RMB’000 |  |  | RMB’000 |
Prepayments and other receivables |  |  | 13,039 |  |  |  | 11,333 |
Deposits |  |  | 4,433 |  |  |  | 3,067 |
|  |  | 17,472 |  |  |  | 14,400 |
ZHEJIANG TIANLAN |
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
|  | 2015 |  |  | 2014 |
|  | RMB’000 |  |  | RMB’000 |
Contracts costs incurred plus estimated earnings |  |  | 160,634 |  |  |  | 207,632 |
Less: Progress billings |  |  | (62,994 | ) |  |  | (53,723 | )
Cost and estimated earnings in excess of billings |  |  | 97,640 |  |  |  | 153,909 |

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- 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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