Capital work in progress

Dear Experts, What is the accounting treatment of capital work in progress for the period before commissioning under the following two scenarios? 1. The assets are finance from the company’s internal sources. 2. The assets are financed by the govt in form of a grant from an international financial institution. Kind refer to the applicable [...]

By |February 26th, 2009|IFRS|0 Comments

Work in progress

Dear Experts, An Org. is into construction of building and renting to tenants for offices as considered as PPE due to other revenue significant. Building under construction remain in CWIP. Now at the year end what if contractor has not submitted payment certificate up to year end and on sending confirmation to him, there is [...]

By |February 13th, 2009|IFRS|0 Comments