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COSTS INCURRED ON UNCOMPLETED CONTRACTS (Tables) | 12 Months Ended
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Mar. 31, 2014
COSTS INCURRED ON UNCOMPLETED CONTRACTS |
Schedule of costs incurred on uncompleted contracts |
|  | 2014 |  | 2013 |
Cost incurred on uncompleted contracts, beginning balance |  | $ | 6,180,839 |  | $ | 10,879,743 |
Total cost incurred on contracts during the year |  | 25,579,089 |  | 21,215,441 |
Less cost of sales, during the year |  | (21,799,856 | ) | (25,914,345 | )
Cost incurred on uncompleted contracts, ending balance |  | $ | 9,960,072 |  | $ | 6,180,839 |
Billings on uncompleted contracts, beginning balance |  | $ | 1,882,546 |  | $ | 6,969,717 |
Plus: Total billings incurred on contracts, during the year |  | 23,887,587 |  | 27,385,748 |
Less: Contracts recognized as revenue, during the year |  | (21,068,063 | ) | (32,472,919 | )
Billings on uncompleted contracts, ending balance |  | $ | 4,702,070 |  | $ | 1,882,546 |
Cost incurred on uncompleted contracts, ending balance |  | $ | 9,960,072 |  | $ | 6,180,839 |
Billings on uncompleted contracts, ending balance |  | 4,702,070 |  | 1,882,546 |
Costs incurred on uncompleted contracts, in excess of progress billings |  | $ | 5,258,002 |  | $ | 4,298,293 |

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- Definition Tabular disclosure of amount included in cost of uncompleted contracts in excess of related billings or unbilled accounts receivable. + References No definition available. + Details
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- Details
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