Schedule 6

Stat Audit 718 views 1 replies

Can anyone please explain the meaning of  "Estimated amount of contracts remaining to be executed on capital account [net of advance]" ?

Replies (1)
It includes Future capital expenditures that a company has committed to spend on long-term assets over a period of time.(Ex: Pending WORK ORDERS) If the Company paid any advances, then we have show net of advances As these will not effect the financial statements, the amount should be shown in notes to accounts


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