Accounting standard 9 -->owner/builder --> how to record proportionate expneses

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CA Kunjan - www.canaresh.com (Querist)
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14 October 2022 how to record expenses incurred in books of owner-builder if only one flat is sold out of 20 flats? building is still under construciton.
my view--> proportionately, on sq feet , whatever is sold divided by total sq feet built till now.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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15 October 2022 For recording expenses in books the actual expense for the whole building is debited. But to calculate proportionate profit at the year end, the view correct. It is also calculated based percentage on completion method.

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