What are the two basic methods of accounting for long term

Assignment Help Accounting Basics
Reference no: EM131119191

1. What are the two basic methods of accounting for long-term construction contracts? Indicate the circumstances that determine when one or the other of these methods should be used. 

Reference no: EM131119191

Questions Cloud

Replace the existing process with the new process : Crunchy Potato Chip Company packages potato chips in a process designed for 10 oz of chips. The weight of the bag cannot be more than ± 0.5 from the process mean. You have just designed a new process for filling the chip bags. The new process results..
How much revenue and gross profit should hawkins recognize : Hawkins Construction Co. appropriately uses the percentage-of completion method. How much revenue and gross profit should Hawkins recognize in the first year of the project?
What is the expected time person spends waiting in line : A new shopping mall is considering setting up an information desk manned by one employee. Based upon information obtained from similar information desks, It is assumed that the arrivals follow a Poisson distribution and answer times are exponentially..
Discuss the appropriateness of the revenue recognition : Discuss the appropriateness of the revenue recognition techniques employed by CN for recognizing freight revenues.
What are the two basic methods of accounting for long term : What are the two basic methods of accounting for long-term construction contracts?
Object-oriented analysis and design methodologies : How does object-oriented analysis and design (OOAD) methodologies compare to the traditional structured analysis and design methodologies covered earlier in the book?
Discuss the criteria used to recognize revenue for each type : Sapient recognizes revenues based on the provisions of the written service contracts generated for each client. The primary types of contracts are (1) Fixed-price, fixed-time contracts; (2) Support and maintenance contracts; and (3) Performance stand..
Empirical data to support the trait approach to leadership : Despite no scientific or empirical data to support the trait approach to leadership, many still believe there is an association between leadership behavior and certain traits. Research and cite your responses to the following questions: Why do you th..
Under what conditions may a seller who is exposed : Under what conditions may a seller who is exposed to continued risks of a high rate of return of the product sold recognize sales transactions as current revenue?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd