PROPERTY DEVELOPMENT COSTS
|
2008 RM |
2007 RM |
|||
| Land – at cost |
x,xxx,xxx |
x,xxx,xxx |
||
| Add : Incidental costs |
xxx,xxx |
x,xxx,xxx |
||
|
x,xxx,xxx |
x,xxx,xxx |
|||
| Cumulative land cost recognised as an expense in income Statement |
(x,xxx,xxx) |
(x,xxx,xxx) |
||
|
x,xxx,xxx |
x,xxx,xxx |
|||
| Add : Development costs | ||||
| Balance at beginning of year |
x,xxx,xxx |
x,xxx,xxx |
||
| Additions during the financial year |
x,xxx,xxx |
x,xxx,xxx |
||
|
x,xxx,xxx |
x,xxx,xxx |
|||
| Less: Cumulative development costs recognised as an expense in income statement |
(x,xxx,xxx) |
x,xxx,xxx |
||
|
x,xxx,xxx |
x,xxx,xxx |
|||
| Less: Transfer to closing inventories (Note x) |
(x,xxx,xxx) |
x,xxx,xxx |
||
|
x,xxx,xxx |
x,xxx,xxx |
|||
Included in development cost is the interest charged as follows:
|
2008 RM |
2007 RM |
|||||
|
Balance at beginning of year |
x,xxx,xxx |
x,xxx,xxx |
||||
|
Amount included in additions during the year |
xxx,xxx |
xxx,xxx |
||||
|
Balance at end of year |
x,xxx,xxx |
x,xxx,xxx |
||||
[...] Posted by learnaccounting on February 16, 2009 If you need sample disclosure of note on property development costs please refer to:Note On Property Development Costs [...]