Real estate
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2011
Please give some light,
There is a real estate company,it incurrs cost on construction of buildings.How to record the direct cost like materials and all incurred specifically on a particular project? They are recorded as direct expenses or as WIP?
There is a real estate company,it incurrs cost on construction of buildings.How to record the direct cost like materials and all incurred specifically on a particular project? They are recorded as direct expenses or as WIP?
25 May 2011
For a real estate co. building forms part of stock in trade. Hence any expenditure towards it like material, labour etc. will be recorded as direct expenses in P&L.
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