banner_ad

work in progress accounted in construction company

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 June 2008 our company have own land & develop that land to construct flats and sale to customers, i.e basic aim

now constructin started initial expenditure booked like

development authority charges
development soil investigation
development archtech fee
the above expenditure transferred to WIP account this was correct or not?

now construction expenditure like purchase of cement, metal, steel, sand all are booked under which head total 6 phases construction was started phase wise expenditure booked total expenditure first booked under WIP after that how the expenditure transferred to P& L Account and what is the procedure for revenue recognition?

please help sir- what is the accouting procedure and which expenditue goes to WIP and wich expenditure goes to P & L account?
please suggest me sir
Profile Image

Taranjit Singh

Profile Image

Taranjit Singh (Expert)
03 October 2009 Hello, is this query still pending?????? plz send me a PM if yes.....
Profile Image

Taranjit Singh

Profile Image

Taranjit Singh (Expert)
03 October 2009 Hello, is this query still pending?????? plz send me a PM if yes.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
CHARTERED ACCOUNTANT ARTICLE ASSISTANT

KPRS And Associates

New Delhi

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details