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ACCRUED EXPENSES

3 Months Ended

Jun. 30, 2021

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 11 - ACCRUED EXPENSES

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​	​	​	​	​	​	​
Accrued expenses included the following as of:		June 30, 2021			March 31, 2021
Accrued compensation	​	$	542,455	​	$	496,320
Provision for claims settlement	​	​	—	​	​	495,000
Provision for contract losses		​	94,213		​	164,164
Accrued professional fees		​	284,477		​	213,213
Accrued project costs		​	95,675		​	114,611
Other		​	49,851		​	42,962
Total	​	$	1,066,671	​	$	1,526,270

​

Accrued compensation includes amounts for executive bonuses, payroll and vacation and holiday pay. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in the

provision are recorded in cost of sales. Accrued project costs are estimates for certain project expenses during the reporting period.

X

- Definition

The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(a),20,24)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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X

- References

No definition available.

+ Details

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