AS-7 or AS-9

Hello Ms Devanshi

For accounting of constructon contracts AS 7 is applicable only, & according to AS 7 when the outcome of a construction contract can be measured reliably contract revenue & contract cost associated to such contract should be recognised in the Financial Statements.

So for recognition of revenue from construction contracts AS 7 is there,

AS 9 does not cover the revenue reocgnition from construction contracts

Thanks & Regards

Raman Gora