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The process and methodology of revenue recognition for development project depend on the type of project. The revenue recognition for sale of condominium units is very...
IAS recognizes the percentage-of-completion method as the only valid method of accounting for construction contracts. Under an earlier version of IAS 11, both the percentage-of-completion method...
When evaluating a real estate sale transaction, two separate issues arise: (1). Is it appropriate to record the transaction as a sale? And; (2). If a...
In the construction industry, two accounting approaches have developed over the years regarding the recognition of revenue. The first approach—the completed-contract method—does not recognize any profit...