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Cost incurred regarding a building under construction, what is the appropriate accounting treatment for these costs?

IAS IFRS
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Question added by Mujibur Rahman ACCA , Founder And CEO , MR-Accountants
Date Posted: 2015/12/08
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Bishan Jamwal
by Bishan Jamwal , Finance Manager , G4S Qatar WLL

Dr Cost of construction

Cr cash / bank

Once construction is completed:

Dr Building (asset to be depreciated)

Cr Cost of Construction.

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