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Insert Dropdown in the Accounting Contract

Insert Dropdown in the Accounting Contract

Aug 6th, 2022

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How to Insert Dropdown 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. When using the completed contract method, revenue is recognized only upon the completion of a long-term contract, such as at the end of a five-year project. The video aims to clarify the nuances of this method and its similarities to the percentage of completion approach, providing a clearer understanding of the accounting process for long-term contracts.

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