Hi all,
What is the treatment of loss on construction contracts as per AS-7?
Vikas Purohit (Motivational Speaker ) (177 Points)
26 October 2012Hi all,
What is the treatment of loss on construction contracts as per AS-7?
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 26 October 2012
The loss so arising should be recognised in the th P& L Statement as and when incurred.
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