banner_ad

Work in progress

A/c entries 426 views 2 replies

Hi All,

   could anybody guide me how accounting entries being done in case of following cases.

An agency constructs building for Govt. . For this they procure material like cement,bricks etc. They also used to issue this to repective projects. What will be the accounting entries for this issue. (if tthe normal life of the project is more than 1 year). What will be the accoutning entry after the project gets over and ready for handover. Please guide me.

 

Replies (2)
Originally posted by : Biraja Senapati
Hi All,

   could anybody guide me how accounting entries being done in case of following cases.

An agency constructs building for Govt. . For this they procure material like cement,bricks etc. They also used to issue this to repective projects. What will be the accounting entries for this issue. (if tthe normal life of the project is more than 1 year). What will be the accoutning entry after the project gets over and ready for handover. Please guide me.

 

 

There is an AS for the same. Please check MCA/ ICAI website for AS on Construction Contracts.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details