How much should be recognised here,24 lacs or whole of 66 lacs?
Nitish Agrawal
(CA)
(810 Points)
Replied 30 April 2015
CA AnKiT BoHrA (AB)
(Manager)
(25955 Points)
Replied 30 April 2015
yes, it should b 66 lacs, because there wont b any future benefit.. and there are no chances that u can get any benefit or way out not to pay these 66 lakhs... So in current year this should b booked as expense
Vishwas Surana
(Intern)
(53 Points)
Replied 30 April 2015
Dilip
(chief Accounts Officer)
(79 Points)
Replied 01 May 2015
singh
(accountant)
(26 Points)
Replied 08 May 2015
I am working in a company who is taking contactor of building construction. It’s a new company and we have received 2 or 3 contract till now. I want to know that which expenses head I should open for purchasing of material like 1. Nail, cement, Bled, nut, plywood, sand, iron sheet, PVC Hand Gloves, Plastic Shoes for Labour, Cable roll, PVC tape, rope, painting material example chuna, brush, etc. please help me for this I am new to construction company. Thanks
CAclubindia
