IAS 11-Construction Contracts


Construction contracts are part of inventory valuation. The accounting and reporting is subject to a single IAS statement. Because of the nature of the activity undertaken in construction contracts, the time between the beginning of a construction process until the final delivery to the customer affects more than one accounting period.114 The main issue is the allocation of contract revenue and contract costs. The accounting rules have a major influence on the financial statements of a construction company. The statement affects large industries, for example building construction companies, including single-family dwellings, apartment houses, industrial plants, office buildings, heavy construction companies who build dams, bridges, tunnels, electric power plants and construction companies with special knowledge including plumbing, heating and air conditioning, electrical work etc.


Balance Sheet Construction Company Disclosure Requirement Single Contract Apartment House 
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© Betriebswirtschaftlicher Verlag Dr.Th. Gabler | GWV Fachverlage GmbH, Wiesbaden 2008

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