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Accounting for Construction Contracts
02-14-2007, 12:37 PM,
#1
Accounting for Construction Contracts
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?
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02-14-2007, 04:45 PM,
#2
 
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.
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