Accounts Finalization of a Construction Company
This query is : Resolved
16 June 2023
Hi Sir/Ma'am,
I have some questions regarding stock valuation at the end of the year.
1.Why do we add direct expenditures in closing stock valuation? Like Fabrication, Scaffolding Exp. etc.
2.Should I book unbilled revenue for the work already done till march for which bill were raised in April next year or i should simply show it in WIP and does not book unbilled revenue?
I have some questions regarding stock valuation at the end of the year.
1.Why do we add direct expenditures in closing stock valuation? Like Fabrication, Scaffolding Exp. etc.
2.Should I book unbilled revenue for the work already done till march for which bill were raised in April next year or i should simply show it in WIP and does not book unbilled revenue?
16 June 2023
1 Such direct expenses add value to the closing stock.
2 Book unbilled revenue for the work already done till march for which bill were raised in April next year.
2 Book unbilled revenue for the work already done till march for which bill were raised in April next year.
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