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Revenue recogonition

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(Querist)
24 May 2014 According to AS 7 revised, Revenue of a construction Industry is to be recognized in percentage completion method. But is there any specific clause are situation where they can recognize using completed cost method?
If so how is that to be recognized in the books of accounts?
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Rupesh Jain

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Rupesh Jain (Expert)
24 May 2014 you have to do the revenue according to AS-7, for that you can take help of engineer for what % of completion of project.
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