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In Construction related field, Work -in Progress on going Project, Which side of the B/S in ending side? It is an Asset or Liability?

In Import & Export oriented Business, Advance / Partial  Payment for Importing Good  from Foreign Country, this amount how we can adjust entries?

Project Work Asset Disposition Construction Accounting Cost Profit
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Question added by ANI GOPALAKRISHNAN , Accountant , Power International Facilities Management
Date Posted: 2015/03/09
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Mohamed Mustafa
by Mohamed Mustafa , Commercial and Financial Manager. , Sices Misr SAE Products and Services for Oil & Gas.

will be in the asset side in b/s as a part of inventory / unfinished goods.

Mohammad Ayoub
by Mohammad Ayoub , AR & AP Expert , Hilti Qatar

Liabilities should be on the ending side of the balance sheet.

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