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What is the ideal treatment of "Contra Charges" in contract accounting ? Should it be treated as a cost incurred or as a reduction in Contract Value ?

Accounting Costing
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Question added by Hansraj Konattu , Cheif Accountant , MULTIFORMS L.L.C , DUBAI
Date Posted: 2014/03/29
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Sohail Mateen
by Sohail Mateen , Finance Manager , Doosan Babcock

What type of contra charges, you are referring to as both the two techniques are used in the industry???

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