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...Contract costing toppers institute chapter overview basics income expenditure profit recognition accounting meaning related terms notional and transfer price work certified features rules uncertified progress payments job vs retention money estimated total etp cost plus items materials merits demerits provisioning for losses labour direct expenses indirect fixed prudence concept depreciation sub format of account extra etc display wip in balance escalation clause sheet refers to a large assignment order where the execution is spread over two or more financial years generally commences one year but ends different terminal involves ascertainment costs it an extension principles long term projects like civil construction ship building interior decoration following are major parties involved contractor who undertakes executes under b contractee whom undertaken site part each carried out at most incurred by directly relatable e g administrative office common apportioned various contracts on...