Admin. exp. of project in real estate

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Querist : Anonymous

Querist : Anonymous (Querist)

26 October 2013 I am in real estate co. & Pl advice the treatment of Project admin exp./finance exp./selling & distribution exp. (only for project for daily use) in real estate co.? whether they are capitalize or treated in P&L every year?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 October 2013 The accounting for these will be as per AS-7" CONSTRUCTION CONTRACTS".

All the relevant exp in connection with specific projects shall be sep accounted with teh rev earned from it.

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2013 Thanks for your suggestion, but pls explain as I am not clearly understanding your view...

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 October 2013 All the exp including the above you must debit to a specific a/c of this project and then credit the same account with the amount of income from this specific project.

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