Construction contract revenue recognition requires percentage of completion recognition at reporting date under ICDS standards. ICDS-III governs determination of revenue and cost of construction contracts and requires that revenue and associated costs be recognised by reference to the percentage of completion of the contract at the reporting date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Construction contract revenue recognition requires percentage of completion recognition at reporting date under ICDS standards.
ICDS-III governs determination of revenue and cost of construction contracts and requires that revenue and associated costs be recognised by reference to the percentage of completion of the contract at the reporting date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.