AS 9 for construction company
This query is : Resolved
SUNNY SEHGAL
(Querist)
25 June 2010
Sir,
Can any one tell me whether AS 9 will be aplly to construction company and how much amount is to be considered for AS 9.Please tell me how to compute the same in detail.
Can any one tell me whether AS 9 will be aplly to construction company and how much amount is to be considered for AS 9.Please tell me how to compute the same in detail.
Aditya Maheshwari
(Expert)
25 June 2010
AS 9 not applicable on following
This Standard does not deal with the following aspects of revenue recognition to which special considerations apply:
Revenue arising from construction contracts;
Revenue arising from hire-purchase, lease agreements;
Revenue arising from government grants and other similar subsidies;
Revenue of insurance companies arising from insurance contracts.
AS 7 is applicable for construction contracts.
This Standard does not deal with the following aspects of revenue recognition to which special considerations apply:
Revenue arising from construction contracts;
Revenue arising from hire-purchase, lease agreements;
Revenue arising from government grants and other similar subsidies;
Revenue of insurance companies arising from insurance contracts.
AS 7 is applicable for construction contracts.
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