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Hide Page in the Accounting Contract

Hide Page in the Accounting Contract

Aug 6th, 2022

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How to Hide Page in the Accounting Contract

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In this video, the focus is on the completed contract method in accounting. It contrasts this method with the percentage of completion method discussed in a previous video. Specifically, the completed contract method involves recognizing revenue only upon the completion of a long-term contract, such as a five-year project, at the end of year five. In contrast, the percentage of completion method allows for revenue recognition throughout the duration of the project. The video aims to clarify the completed contract method by revisiting concepts from the previous example, highlighting similarities between the two methods for better understanding.

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