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In this video, the focus is on the percentage of completion method in accounting, particularly in the context of long-term contracts. It explains the traditional approach of recognizing revenue upon transferring goods or services, exemplified by a retailer's sale. However, for long-term projects, such as bridge construction, companies have two options for revenue recognition: the completed contract method, which recognizes revenue only upon project completion, and the percentage of completion method, which allows revenue to be recognized gradually throughout the project's duration. The video aims to provide a detailed discussion of these two methods.