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For construction business

shivani (student)     28 July 2020

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what's the point to be considered during accounting of construction business (Partnership firm)??


yasaswi gomes   28 July 2020

yasaswi gomes

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As of now, there is no separate standard for construction contracts because IndAS 115 prescribes the accounting treatment for construction sector as well. Since your company is partnership, just recognise revenue as per AS and the rest is partnership accounting, 


sabyasachi mukherjee   11 August 2020

sabyasachi mukherjee

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Earlier it was construction contract AS 7

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