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Long-term contractors are permitted to use the percentage of completion method for the purpose of revenue recognition and income determination. Consider why this method is not used by other companies?
Wiki User
∙ 15y ago
This method is used for long-term projects when there is a contract, and reliable estimates of production completed, revenues and costs are possible.
Wiki User
∙ 15y ago
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When work to be done and costs to be incurred on a long-term contract can be estimated dependably what methods of revenue recognition is preferable?
percentage-of-completion method
Difference between Percentage of Completion method and Completed Contract method?
Difference between Percentage of Completion method and Completed Contract method?
Is the Percentage-Of-Completion Method GAAP?
yes it is
Issues in Percentage-Of-Completion Method?
Revenue can be misstated by manipulating the Total Estimated Cost (or Estimate At Completion)
What college QB has the best career completion percentage?
Colt McCoy at 70.9 percent has the highest college career completion percent. He also holds the highest single season completion percentage at a ridiculous 77.6 percent.
Lowest single season completion percentage for a quarterback?
tebow?
What was dan Marino's all time completion percentage?
59.4
Who is the most inaccurate quarterback in the nfl of 2008?
As far as completion percentage goes, for QBs that started at least 8 games in the 2008 season that was Derek Anderson (started 9 games) of the Cleveland Browns who had a 50.2 completion percentage on 142 completions in 283 attempts. The 2008 Browns were the only team in the NFL that season to have a team completion percentage of under 50 percent. Brady Quinn started 3 games and had a 50.6 completion percentage (45 completions in 89 attempts), Ken Dorsey started 3 games and had a 47.3 completion percentage (43 completions in 91 attempts), and Bruce Gradkowski started 1 game and had a 33.3 completion percentage (7 completions in 21 attempts).
What are the proforma journal entries used under the percentage of completion method?
Pro forma journal entries are used in a certain percentage of the completion method. They are generally used for construction projects.
Advantages of percentage of completion method?
Advantage of percentage of completion is that it allocates cost and revenues based of percentage of completion and don't wait till finish of work, Second advantage is that all costs and expenses allocated to the financial statements in which work has done and not allocate the full cost and expenses to the financial statement of the year in which work finish.
What was Bart Starr's completion percentage with the Green Bay Packers?
Bart Starr's career stats with the Packers: 1,808 completions in 3,149 attempts for a 57.4 completion percentage, 24,718 yards, 152 TDs, and 138 INTs.
What percentage of refuse collection in UK is now outsourced to private contractors?
More than 23 percent of refuse collection in the UK has been outsourced to private contractors since Tony Blair came into office. The politics of David Cameron will only increase this percentage.
