AS 7 – Construction Contracts

By |2021-11-11T05:46:02+00:00November 11th, 2021|Categories: Accounting|Tags: , , , , |

AS 7 Construction Contract defines and specifies the accounting treatment of revenue and expenditures associated with a construction contract. Construction contracts have to be accounted for in the financial statements of the contractors using Accounting Standard 7 Construction Contract. Different Types Of Contracts A construction contract is one that is entered into expressly for the building [...]