Completed-Contract Method

Knowledge Center


Description of Completed-Contract Method. Explanation.


Completed-Contract Method

Definition Completed-Contract Method. Description

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 (4 members)

Forum - Completed Contract Method  

In the forum section you will find recent discussions within this knowledge area.

Best Practices - Completed Contract Method

In the best practices section you will find the best forum discussions within this knowledge area.

Expert Tips - Completed Contract Method

In the expert tips section you will find advices from experts within this knowledge area.

Resources - Completed Contract Method

In the Resources section you will find powerpoint presentations, micro-learning videos, articles, news items, etc. within this knowledge area.


News about Completed Contract Method


Videos about Completed Contract Method


Presentations about Completed Contract Method


Books about Completed Contract Method


More about Completed Contract Method

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
2019 12manage - The Executive Fast Track. V15.0 - Last updated: 23-5-2019. All names of their owners.