Admin. exp. of project in real estate
This query is : Resolved
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?
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.
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...
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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