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ACCRUED EXPENSES
9 Months Ended
Dec. 31, 2019
ACCRUED EXPENSES  
ACCRUED EXPENSES

NOTE 10 - ACCRUED EXPENSES

 

 

 

 

 

 

 

 

 

    

December 31, 2019

    

March 31, 2019

Accrued compensation

 

$

339,262

 

$

284,651

Provision for contract losses

 

 

273,831

 

 

57,792

Accrued professional fees

 

 

276,383

 

 

267,309

Accrued project costs

 

 

50,923

 

 

118,929

Other

 

 

40,856

 

 

24,818

Total

 

$

981,255

 

$

753,499

 

Accrued compensation includes amounts for 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. The provision for contract losses has increased by $0.2 million since March 31, 2019. Accrued project costs are estimates for certain project expenses during the reporting period.