Accounting entries and heads for construction co.

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What are the accounting entries and accounting heads for various expenditure in a construction company? Following is the list- 

1) Amount paid to Contractor 
2) Amount paid to owner of Land as advance for constructing on his land and later adjustable against some portion given to him 
3) Staff for supervision 
4) Security guard 
5) Various approvals for building 
6) Municipality fees 
7) Material purchased

 
Replies (3)

how can we learn construction accounting in tally step by step ( assignments)

 

its indas, it falls under revenue recognition. If it is AS follow construction contract because they have a contract asset and these dont have and something simple like that. Tell me your standard and Ill get back to you. 

how can we learn construction accounting in tally step by step

 


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