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Accounting for Construction Contracts - Printable Version

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Accounting for Construction Contracts - kmeechin - 02-14-2007

The "Accounting for construction contracts" is an international accounting standard(i.e. IAS11). In Malaysia, does this standard apply to SME's construction company as well? If a contract that only take one to six month(s) to complete, does this contract apply to IAS11?


- Muhammad Ahmad - 02-14-2007

Applicability of IAS depends upon the relevent laws & legisilation of that contary. The IAS 11 will be applicable to all contracts irrespactive of the period of agreement.