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Real estate

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 May 2011 Please give some light,
There is a real estate company,it incurrs cost on construction of buildings.How to record the direct cost like materials and all incurred specifically on a particular project? They are recorded as direct expenses or as WIP?
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Ashish Goyal

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Ashish Goyal (Expert)
25 May 2011 For a real estate co. building forms part of stock in trade. Hence any expenditure towards it like material, labour etc. will be recorded as direct expenses in P&L.

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