Construction firm accounting
This query is : Resolved
19 December 2013
If a construction firm get total work order of Rs 50 lakh but work completed at the end of fy is of Rs 42 Lakh then what would be receipt for said financial year Rs 50 lakh or Rs 42 Lakh
19 December 2013
Dear Deepak,
The appropriate way of booking sales for the said financial year is to look on cost side.
Formula should be Rs 50 lakhs * cost incurred till date/Initial cost estimated for the project.
The appropriate way of booking sales for the said financial year is to look on cost side.
Formula should be Rs 50 lakhs * cost incurred till date/Initial cost estimated for the project.
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