As 7 construction contracts

1447 views 2 replies

what is the scope of "assets " in AS 7. will it include movable and immovable assets (both)? is this standard applicable for construction of things like computer, furnitures etc??

 

anticipating quick reply by our experts

 

arvind

Replies (2)

It includes both movable and immovable assets becasue,

According to AS-7:-

 

A construction contract is a contract specifically negotiated for the

construction of an asset or a combination of assets that are closely

interrelated or interdependent in terms of their design, technology and

function or their ultimate purpose or use.

but my specific query is whether for short terms contract( e.g a contracts for a period of less than 1 year) As 7 is applicable? whether AS 7 would cover a contract for construction of articles like furnitures, computer software, etc.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details