Question

I'm currently doing a project on IND-AS( Indian accounting standards). i have filled most of the info in it from the newest accounting standards to the once which have been withdrawn by the ICCA. all i need is conclusion for my project in about half para typed with good language. the project it at the college level

Answer 1

Answer:

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Answer 2

A construction contract is a contract specifically negotiated for the construction of an

asset or a combination of assets that are closely interrelated or interdependent in terms

of their design, technology and function or their ultimate purpose or use.

A fixed price contract is a construction contract in which the contractor agrees to a fixed

contract price, or a fixed rate per unit of output, which in some cases is subject to cost

escalation clauses.

A cost plus contract is a construction contract in which the contractor is reimbursed for

allowable or otherwise defined costs, plus a percentage of these costs or a fixed fee.

4. A construction contract may be negotiated for the construction of a single asset such as a

bridge, building, dam, pipeline, road, ship or tunnel. A construction contract may also deal

with the construction of a number of assets which are closely interrelated or interdependent in

terms of their design, technology and function or their ultimate purpose or use; examples of

such contracts include those for the construction of refineries and other complex pieces of

plant or equipment.