Completed-Contract Method

Knowledge Center

Summary, forum, best practices, expert tips and resources.


Completed-Contract Method

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.

Completed Contract Method Special Interest Group

Special Interest Group (4 members)

Forum about Completed Contract Method  

Discussions about Completed Contract Method.

Best Practices about Completed Contract Method

Here you find the most valuable discussions from the past.

Expert Tips about Completed Contract Method

Here you will find advices by experts.

Information Sources about Completed Contract Method

Here you will find powerpoints, videos, news, etc.

Special Interest Group Leader

You here? Sign up for free


Return to Management Hub: Finance & Investing

More on Management  |  Return to Management Dictionary  | 


This ends our Completed-Contract Method summary and forum.

About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.4 - Last updated: 3-4-2020. All names of their owners.