Preparation of accounts for construction firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2010
hw closing stock can be valued for a construction firm?
wat are special considerations to be given while preparing accounts for a firm engaged in construction biz
wat are special considerations to be given while preparing accounts for a firm engaged in construction biz
CMA Ramesh Krishnan
(Expert)
22 August 2010
In construction company also stock valuation need to be done as per AS-2 only,
other points
1.Some times stock in the hands of subcontractor the same need to be consider
2. some sub contract stock included in the main contractor value need to be excluded
3.Some time stock already billed but in construction site it may available, the same to be taken care while valuation of stocks
other points
1.Some times stock in the hands of subcontractor the same need to be consider
2. some sub contract stock included in the main contractor value need to be excluded
3.Some time stock already billed but in construction site it may available, the same to be taken care while valuation of stocks
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