What disclosures are required in Form 3CD for construction contracts?

Ans. The following disclosures are required in Form 3CD for construction contracts:

• The amount of contract revenue recognised as revenue in the period; and
• The method used to determine the stage of completion of contracts in progress
  A person shall disclose the following details for contracts in progress at the reporting date:
• Amount of cost incurred and profit recognised (less recognised losses) up to the reporting date;
• The amount of advances received; and
• The amount of retentions.​