CAclubindia Forum : Revenue Recogition in Construction Co

Pages : 1,

By : Srivathson
Article Student
[ Scorecard : 34]

ON : 07 October 2008

Dear Dudes

I have a doubt with respect to the REVENUE RECOGNITION in case of a CONSTRUCTION COMPANY, wherein there is a transfer of land first from the company and then there is a service contract between the company and the buyer. so when revenue has to be recognised?

By : SAI (Guest)

ON : 08 October 2008

Originally posted by :Srivathson

Dear Srivathson,

In this case, revenue recognition is based on transfer of property in goods and it is not like the treatment given in AS 7

Dear Dudes
I have a doubt with respect to the REVENUE RECOGNITION in case of a CONSTRUCTION COMPANY, wherein there is a transfer of land first from the company and then there is a service contract between the company and the buyer. so when revenue has to be recognised?

By : Srivathson
Article Student
[ Scorecard : 34]

ON : 16 October 2008

ok fine then when to recognise it

PAGE 1,

Forum for Chartered Accountants ,CAs India, CA India ,Company Secretary ,CS, Cost Accountants , MBA and Finance Professionals