12-10-2009, 06:37 PM
What would be the accounting treatment for retention money in construction projects? Should we record retained amount as liability or not?
If;
Yes - What if the contractor doesn't complete the work?
No - What if the cost has already incurred by the contractor and certified by the consultant?
Urgent Response Required
Asad
If;
Yes - What if the contractor doesn't complete the work?
No - What if the cost has already incurred by the contractor and certified by the consultant?
Urgent Response Required
Asad
