There are various ways to record revenue as it is earned for longer term contracts like a

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There are various ways to record revenue as it is earned for longer term contracts like a construction project. Under both IFRS and U.S.

GAAP, the percentage of completion method to record revenue is used when certain criteria are met. U.S. GAAP allows using the completed c ______ method, which delays recognition of revenue and expenses to the end of the contract. IFRS does not allow this method to be used.

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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