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ACCRUED EXPENSES

3 Months Ended

Jun. 30, 2023

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 10 - ACCRUED EXPENSES

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​	​	​	​	​	​	​
Accrued expenses included the following as of:		June 30, 2023			March 31, 2023
Accrued compensation	​	$	1,182,453	​	$	1,257,245
Provision for claims	​	​	234,472	​	​	256,227
Provision for contract losses	​		119,124	​	​	102,954
Accrued professional fees	​		234,176	​	​	241,195
Accrued project costs	​		615,213	​	​	440,550
Other	​		167,011	​	​	235,014
Total	​	$	2,552,449	​	$	2,533,185

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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.

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- 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
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(a),20,24)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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- References

No definition available.

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