COSTS INCURRED ON UNCOMPLETED CONTRACTS (Tables)

12 Months Ended

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