Poonawalla fincorps
Poonawalla fincorps

APPLICABLITY OF ACCOUNTING STANDARD

This query is : Resolved 
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(Querist)
11 August 2008 A businessmen is engaged in construction business.

He transfer all the expenses to WIP.

He follows the completed contract method for construction business.

Whether such practice is allowed or he has to follow AS-7.
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CA V.V.V.S.Kiran

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CA V.V.V.S.Kiran (Expert)
25 August 2008 ITS MANDATORY TO FOLLOW AS-7

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