Accounting for property development
Options
stefanboro
Registered Posts: 187 Dedicated contributor 🦉
Hi All,
Can anyone give me a brief masterclass on accounting for property development?
I gather it's just simple - All direct costs go into WIP and accounted for according to the accruals principle?
If a property is subsequently rented with no immediate intention to sell then the WIP is capitalised?
Can anyone give me a brief masterclass on accounting for property development?
I gather it's just simple - All direct costs go into WIP and accounted for according to the accruals principle?
If a property is subsequently rented with no immediate intention to sell then the WIP is capitalised?
0
Comments
-
Although it appears that I need to be careful in my recognition of WIP, even if the below link is out of date:
http://www.hmrc.gov.uk/manuals/bimmanual/BIM33185.htm
Oh boy....0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.4K For AAT students
- 267 NEW! Qualifications 2022
- 145 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 46 AAT Level 3 Diploma in Accounting
- 67 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 269 VAT
- 90 Software
- 271 Tax
- 133 Bookkeeping
- 7.1K General accounting discussion
- 195 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 578 Job postings
- 16 Who can benefit from AAT?
- 35 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership