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Applicability of AS-7 construction contract on

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Atharv Sankliya

1359 Points Posted on 09 June 2023

does AS-7 applies on the builder developing building without any specifically negotiated contract with customer?

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Quick Summary

This discussion explores whether the AS-7 construction contract standard applies to builders developing properties without a specifically negotiated contract. The consensus suggests that if a standard contract for building delivery is in place, AS-2 and AS-9 would likely be the applicable accounting standards, rather than AS-7.