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accounting standard 7 and 9

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10 September 2009 i want to ask that if a pvt ltd company is involved in construction of buildings n appartments after purchasing lands.....so the cost when recognised for the year will be including the whole cost paid for land or proportionately to the % of work completed what is the general practice....???urgent
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Prashant

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Prashant (Expert)
16 September 2009 You have to treate this whole amount as a WIP. And it is added in Appt. Build. cost.
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