Learn the differences between the percentage of completion and completed contract methods. Discover how each impacts revenue recognition for long-term projects.

Every business is required to choose an accounting method to report income and expenses. Two options that cater to businesses working on long-term projects, such as construction and engineering firms, ...

Contract jobs can vary considerably in length. The day of completion for a contract job oftentimes requires extension for a variety of reasons. The completed contract method allows you to delay ...

Developers of upscale home communities could include common improvements and infrastructure in contract subject matter for the completed-contract method of recognizing income from the sale of homes.

In this week’s Tax Geek Tuesday, we take a look at a case out of the Tax Court that should have tax advisors scrambling to see if an opportunity exists for their home-builder clients to defer ...

Certain construction contractors may be eligible to use the cash or completed-contract method of accounting for regular income tax. However, these taxpayers may also be liable for alternative minimum ...

The percent of revenue or completion method is a business accounting practice that allows a company to record costs and profits as the company works to complete a given contract. This system works ...