construction accounting concept
This query is : Resolved
15 February 2010
Please let me know the the concept of construction accounting in both form as a developer how to keep accounting & as a contractor how to keep accounting
CMA Ramesh Krishnan
(Expert)
15 February 2010
As a developer can maintain normal accounts only, he has to maintain books of accounts for the particular construction of asset
A contractor need to follow the AS-7 for recognasie the reveue and profit
A contractor need to follow the AS-7 for recognasie the reveue and profit
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