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please Guide me on contractor profit & loss account

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(Querist)
24 August 2010 Sir,
In contruction contract final a/c whether we have to prepare seperate contract a/c for each contract or to show them combinely in one profit & loss a/c?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 August 2010 Each project need to maintain the accounts and find the profit/loss separatly and consolidate the same
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Hitender Gaur

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Hitender Gaur (Expert)
01 December 2010 Yes Ramehs is right




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