In what aspect does construction accounting mainly differ from a trading or manufacturing?

Question added by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice
Date Posted: 2013/10/29

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by Prasanth Prabhakaran , Accounts Manager , BRASSWORLD

In realization of revenue; it will be according to the % of work completed and certified

by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice

Wording is incorrect, what is meant is correct. Please correct the wording.

What are the entries in construction accounting when a contract is signed? What are the entries when a percentage of completion invoice is created?
Top Answer: Dr Cr A/C xxx A/C Receivab ... See More

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What is construction accounting?
Top Answer: Accounting is based on the cost , organization and planning phases of work and work and follow-up, some c ... See More

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How important is it to know few aspects of accounting?
Top Answer: as an accountant it is very important to know most aspects of accounting not only a few of them. See More

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How is revenues recognized under construction accounting?
Top Answer: <p>Revenue for an financial year is recognised based on percentage of completion of contracts.i.e; ... See More

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