AS 7

Accountancy

Sir, why has interest for 9 months included in cost of construction when it was specifically mentioned for 8 months and also as per AS 7 and 16, it should be considered for that period only where construction is in progress?

Rahul Anand

CA Inter

★ 6K+

01-Mar-26 09:32

175

Answers (1)

ICAI has not been consistent in treatment of such questions. The number of months depends on assumption.

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CA Suraj Lakhotia

Admin

05-Mar-26 10:35

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AS 7

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