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Erase Accounting Contract Template

Erase Accounting Contract Template

Aug 6th, 2022

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How to Erase Accounting Contract Template

5 out of 5

69 votes

In this video tutorial, the focus is on the completed contract method in accounting. The instructor contrasts this method with the percentage of completion approach discussed in a previous video. The completed contract method involves recognizing revenue only upon the completion of a long-term contract, such as a five-year project, meaning all revenue is recorded at the end of the contract term. The video aims to clarify this method by revisiting concepts from the percentage of completion method, helping viewers understand the similarities and differences between these two accounting approaches.

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