Accounts of construction co
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 July 2012
If a person who is into construction business incurs certain expenses at site such as architech fees, security expenses though actual work at the site has not yet started, weather to keep these expenses under loans and advances head or to be shifted to development expenses and taken in closing work in progress
CMA Ramesh Krishnan
(Expert)
05 July 2012
Expenses related to the actual works can be treated as Work in progress, such as Architect fees. but admin charges like security expenses will be treated as indirect expenses and debit directly to pre operative expenses and write off once the operation starts.
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