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Today's topic is long-term construction contracts, which are projects that typically take over a year to finish. We're looking at it from the contractor's perspective. From the client's viewpoint, accounting involves property, plant, and equipment, where assets are debited and depreciation is recorded annually. For the contractor, revenue recognition is important, falling under special topics. The method used depends on the reliability of completion estimates for the project, such as building construction. If estimates are reliable, the accrual method is used.