Construction In Progress On Financial Statements During The Covid-19 Pandemic

Abstract

This research aims to know about the implementation of Construction Accounting in Work is structured to facilitate understanding of the Statement of Government Accounting Standards Number 08 Construction Accounting in the Works and to re-explain the standard paragraphs. This research was conducted by applying a qualitative descriptive method. In this study, it will be more directed to a description of the accounting treatment of construction in progress on financial reports during the covid-19 pandemic. The result of this research implies the construction activities have stopped due to the Covid-19 pandemic. Recognition of construction in progress is important where it is necessary to follow the guidelines in Government accounting standards. In the end, Construction Recognition in proper construction will assist the government in disclosure in the Financial Statements. In the end, it will present the asset value fairly. Construction in progress is presented at cost or fair value at the time of acquisition in the balance sheet in the Fixed Assets group. The presentation of construction in progress is carried out in a combined manner, by adding up all construction in progress, from all fixed assets. Construction completion under construction in 2020 was affected by the Covid-19 pandemic due to the social distancing and Work From Home (WFH) policy and the reallocation of part of the budget ceiling to spending on handling the Covid-19 pandemic.