how to calculate work in progress

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 April 2010 i am working for builders here i want to know how to calculate work in progress.
how many type of method to calculate.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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08 April 2010 Whatever expenses you have incurred during the year for the project will be the work in progress for the builder

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 April 2010 agreed.Cost to cost method is preferable

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CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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10 April 2010 agreed with Aditya and continuing that project is still not finished.

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2011 not satisfied with aditya. builder develop property (flat/room) and sold fully/partly during the f.y. and if he sold part wise than cost to cost method not working properly.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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28 March 2011 Not very clear what u mean in the last post.

Till the time the project is not complete all expenses will be transferred to Work in progress a/c.