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Accounts for builders

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 March 2014 Dear Sir,

Please help me. How to a/c for builders.

our company process..

First customer book the flat and entered into agreement with builders,who's given consideration instalment as per agreement...like advances taken from customers.
how to a/c for as per AS-7 or AS-9?

and please explain?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
20 March 2014 u need to follow as -7 as its a specific AS for real estate business only...

follow the percentage of completion method...
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 March 2014 i know but how to pass entries
please tel me
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 March 2014 under percentage of completion method how to pass the entries?
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