Completed-Contract Method

Knowledge Center

Summary, forum, best practices, expert tips and information sources.

7 items • 12.544 visits

Translate

Welcome to the knowledge center about the Completed Contract Method.

Summary
Forum Discussions
Best Practices
Expert Tips
More...

Summary

What is the Completed-Contract Method? Meaning.

The Completed-Contract Method prescribes the accounting treatment of revenue and costs associated with long-term construction projects under U.S. GAAP, in which the outcome cannot be estimated reliably.

If the outcome of a construction project cannot be estimated reliably, U.S. GAAP requires the application of the Completed-Contract Method (please note that the application of this method is prohibited under IFRS).

Under this method, contract costs and related billings are reported as deferred items in the financial statements until the project is complete or substantially complete.

Although income is only recognized on completion, losses are to be recognized in their entirety as soon as their probable existence is known.

Special Interest Group

Completed Contract Method Special Interest Group.

Special Interest Group (4 members)

Forum

Forum about the Completed Contract Method. Below you can ask a question about this topic, share your experiences, report a new development, or explain something.

Start a new topic about Completed Contract Method

Best Practices

The best, top-rated topics about the Completed Contract Method. Here you will find the most valuable ideas and practical suggestions.

Expert Tips

Advanced insights about the Completed Contract Method. Here you will find professional advices by experts.

Information Sources

Various sources of information regarding the Completed Contract Method. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.

Research Links

Jump to further research sources regarding the Completed Contract Method.

News	Videos	Presentations

Books	Academic	More

Special Interest Group

Do you know a lot about the Completed Contract Method? Become our SIG Leader and gain worldwide recognition as an expert.

Return to Management Hub: Finance & Investing

More on Management | Return to Management Dictionary

This ends our Completed-Contract Method summary and forum.