Revenue recogonition
This query is : Resolved
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?
If so how is that to be recognized in the books of accounts?
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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