close x


Capital Work in Progress


Dear Members,

I had an argument with my Auditors saying that Capital Work in Progress is only when some capital expenditure is incurred for some unfinished capital work, like a room under construction or a machinery under installation.

If i have issued an advance for a fridge or TV then this can not be termed as capital work in Progress.

Am I Right - Which accounting standard / Guidence note would throw proper light on the above.

 
Reply   
 

Hi thomas, it is ok with your argument. Though advance paid to the capital works will be shown as capital advances in your GLs/TB.

But when it comes to Schedule VI disclosure, capital work in progress inlcudes capital advances.

 

Regards,

V R Nanda

 
Reply   
 


Company Secretary and Compliance Officer

Agree with Mr. Nanda

 
Reply   
 

I doubt, kindly clarify

 
Reply   
 

Agrred with NANDA

 
Reply   
 

LEAVE A REPLY



    

Your are not logged in . Please login to post replies

Click here to login   Click here to Register



 



Share on :