Urgent

I under took an accounting work of a works contractor they are doing  Interior Designing work of a hotel , It is a proprietary concern, my query is

  • Method of accouting we should applied for  (Contract Accounting or Normal accounting)
  • Book of accounts in which we have to maintained
  • what step to be taken for doing this job
  • which area we have to take more reasonable care
  • If we shold consider the Work in progress ( WIP) , WIP Reserve , Work certified and uncertified

Can any body Please replay immedietly, it is urgent

Thanks in advance

 

Replies (1)
Do the accounting as per the normal acounting principles as the client is a Professional who is into Interior Designing. Books of accounts as follows: Cash/Bank Book JOurnal REgister Fixed Assets Register All the bills of professional receipts All teh bills in relation to the paymetns made by teh firm

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