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Sale Recognization

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(Querist)
05 April 2011 Dear all,

plz solve my quaries.

example:
how sale recognization by builders .
we construction of flat & recieved some amount how sale recognization in various flat cases .plz sent the any chart & accounting standard .

thanks
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JIGAR DALAL

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JIGAR DALAL (Expert)
10 April 2011 In the books of Construction company, builder can classify its residential building or commercial plotas prevenue once it is completed and possession is handed over to the concern party. revenue will be classified in that financial year. till that any amount recd. from party will shown as advance recd. from customers in balance sheet
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