how to calculate work in progress

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Querist : Anonymous

Querist : Anonymous (Querist)

06 April 2010 i am working for builders here i want to know how to calculate work in progress.
how many type of method to calculate.

Aditya Maheshwari

Aditya Maheshwari (Expert)

08 April 2010 Whatever expenses you have incurred during the year for the project will be the work in progress for the builder

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

08 April 2010 agreed.Cost to cost method is preferable

CMA Arif Farooqui

CMA Arif Farooqui (Expert)

10 April 2010 agreed with Aditya and continuing that project is still not finished.

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2011 not satisfied with aditya. builder develop property (flat/room) and sold fully/partly during the f.y. and if he sold part wise than cost to cost method not working properly.

Aditya Maheshwari

Aditya Maheshwari (Expert)

28 March 2011 Not very clear what u mean in the last post.

Till the time the project is not complete all expenses will be transferred to Work in progress a/c.

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