Revenue Recognitions For Development Project
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 …
Posts tagged Percentage Of Completion Method
Percentage-of-Completion Methods [A Closer Look]
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 …
Accounting Method For Sales & Profit Of Real Estate Company
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 …
Revenue Recognition: Completed-Contract And Percentage-Of-Completion Method
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 …