Percentage of Completion Method for Long Term Contracts (Financial Accounting Tutorial #51): In the last video I gave a quick overview of the methods that we may use depending on how our company is structured (IFRS of ASPE) (besides the installment method). I just wanted to quickly go through a problem and provide a template I used for determining revenue and gross profit. It's simple and quick and should help you when you are trying to figure out those numbers to record your journal entries.
Via https://www.youtube.com/watch?v=jjndqx6cwrE | Amazon
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