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Contract A/c.

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(Querist)
02 January 2011 How Revenu Recognise in folloeing conditione

1> Land own by builder and developed by him
2> Land own by other's and developed by builder.

in above bothe case how revenu recognised in case such building are sold by builder in such a case what accounting stander followed. and method of accounting

reply as soon as eraly possible

thank's
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Ankur

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Ankur (Expert)
03 January 2011 Please mention more details on

1. What is the revenue stream. (is he earning lease rentals or is it outright sale of property)
2. Or is it a development contract for fixed price.

Please clarify.

3. AS 9 would be the basic AS reference. Or accounting for long term construction contract (AS 6 .. i guess).
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