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Insert Page from the Accounting Contract

Insert Page from the Accounting Contract

Aug 6th, 2022

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How to Insert Page from the Accounting Contract

5 out of 5

25 votes

This video tutorial discusses the completed contract method in accounting, which is an approach for recognizing revenue. Unlike the percentage of completion method, where revenue is recognized throughout a long-term project's duration, the completed contract method involves waiting until the entire contract is finished to record any revenue. For example, in a five-year contract, revenue would be recognized only at the end of year five. The video emphasizes the importance of reviewing the percentage of completion method, as it shares similarities that can aid in understanding the completed contract method.

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