Articles

The concept of business is actively under construction contracting!


Work under implementation

Work in progress The last period

 Expenses that have been closed in the final account and have been charged and have not yet contributed to the generation of the income of these expenses. The closing account shall be reduced by means of a proof of proof in accordance with the principle of income interview. These expenses may be

  1. materials already spent or uploaded to the final account and not yet included in the revenue extract
  2. Wages already paid and not yet included in the revenue deduction
  3. Works (expenses) have already been implemented and were included in the revenue abstract as items, but the consultant has not yet approved these expenses either to be accurately identified or take a percentage of the revenue item according to the study shown in the analysis card that this item has a profit margin of 25% The cost of this item shall be 75% of the revenue item shown in the revenue abstract
  4. Difference between the rate of exchange, between the subcontractor's extract (expense) and the rate of exchange of this item by the revenue (revenue)                                                                                                                                                                                                           For example:- Assuming that a contractor's draft has been done at a 100% rate of disbursement, this item has been adopted as a revenue item in the income abstract with an exchange rate of 80% meaning that 20% is proved as an expense to the subcontractor and there is no corresponding revenue
  5. Financing expensesfor letters of guarantee commission This commission may be for a period of one year and is the duration of the guarantee letter. Therefore, the value of this commission should be determined as a work in progress
  6. Site installation expenses At the beginning of the project, the value of these expenses shall be determined as works under implementation
  7. Any other expenses that are charged to the final account and did not all contribute to the revenue during the period

Work under implementation The last period will be the work under implementation the first period during the following year and will be    closed in the final account in the following year