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student
27 Points Posted on 03 August 2021
Please advice Which accounting standards are applicable on builders..
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On 03 August 2021 at 01:00 Report
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This discussion clarifies the applicable accounting standards for builders. While AS 7 specifically addresses construction contracts, it is also relevant for builders. Additionally, AS 9, concerning revenue recognition, is considered applicable to the building industry.

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Chartered Accountant
24588 Points Posted on 03 August 2021
AS 7 shall be applicable
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On 03 August 2021 at 06:03
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student
27 Points Posted on 03 August 2021
I think AS 7 deals with contractor... Not with builders, m i right?
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On 03 August 2021 at 09:36
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Chartered Accountant
24588 Points Posted on 03 August 2021
Yes but for builders also AS 7 and AS 9 should be appt
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On 03 August 2021 at 09:58

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