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?
Menu
Accounting for Real estate
Replies (1)
if company want to sell the building on completion of project then recognize as direct expenditure, of if it want to lease it out then transfer to capital work in progress.
Recent Topics :
- GST Return
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
Related Topics :
CAclubindia
