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In this video, the focus is on the completed contract method in accounting, particularly in relation to long-term contracts. It contrasts this method with the percentage of completion method, previously discussed. The completed contract method involves recognizing revenue only at the end of the contract, for example, after five years in a long-term project. This approach differs from the percentage of completion method, where revenue is recognized over the duration of the project. The video aims to clarify the completed contract method by reviewing concepts from the earlier discussion on the percentage of completion, highlighting their similarities to enhance understanding.