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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Capital Gain Incidents
- Minor Aadhar card cancelled
- Form 121 of income tax
- Applicability of corporate governance provisions as per the SEBI LODR
- Minor - PPF Rules Doubt
- Cheque bounce intimation letter
- Unable to login
- Appeal before the CIT (A) - Form
- Capital gain property
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
