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there is the IAS11 regarding construction contracts. this standard is introduced to counter the dificiencies
observed in accounting for construction contracts, it defines how a contractor should account for costs and revenue incurred over the construction cycle
construction accounting relates to IAS-11,Construction Contracts
IAS related to contracting contracts its IAS -6 after abolition of13 standerds out of41 IASs and replace them by13 IFRSs. number of standreds to date are as follows :
28 IASs +13 IFRSs =41 Standerds
IAS11 / Construction Contract
