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Q. Explain about Percentage of completion method?
The percentage-of-completion method makes out revenue based on the estimated stage of completion of a long-term project. To calculate the stage of completion firms compare actual costs incurred in a period with the total estimated costs to be incurred on the project. To exemplify assume that a company has a contract to build a dam for USD 44 million. The approximate construction cost is USD 40 million. You compute the estimated gross margin as follows
The firm distinguish the USD 4 million gross margins in the financial statements by recording the assigned revenue for the year and then deducting actual costs incurred that year. The formula to recognize revenue is as
(Real construction costs incurred during the period / Total estimated construction costs for the entire project for period) * Total sales price=Revenue recognized
Data evaluation is observed as the most significant activity in accounting recently. Evaluation of data comprises controlling the activities of business along with the assist of bu
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and current price at par -
basic methods for calculating depreciation
Question: You have decided to borrow $20,000 so that you can consolidate the loans you currently have with other lenders. You have agreed to repay the loan in 8 equal semi-annu
Limitations of Ratio Analysis : In spite of the a variety of uses of ratio analysis, it go through from certain limitations, some of which are as under; 1. Limited use
Ask queshow to be an experttion #Minimum 100 words accepted#
Q. Illustrating the recording of sales returns? Following are two instances illustrating the recording of sales returns in the Sales Returns and Allowances account - Suppose
Other than the Parsimonious forecasting approach, what other financial forecasting approaches are there? Other than the Parsimonious forecasting approach, there are a number of oth
twhat is debit?
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